Many small businesses experience enormous challenges getting a traditional business loan in these times for many reasons. For one thing tighter lending restrictions were placed on banks after the 2008 financial crisis. Sometimes the financial institutions have minimums which are above the small business needs and qualification. There is also stringent qualification requirements and challenging terms and collateral requirements that small businesses struggle to satisfy. It is observed that the rate of lending to small businesses have fallen some in preference to lending to bigger firms since the start of the financial crisis.
- CASH FLOW matters more than Credit score
- Use the funds as you choose
- 4 + months in business
- $100k in annual sales revenue
- 500+ FICO score
- Available in all 50 states