If your business has been turned down for financing from your bank, you are not alone. Banks decline about 80% of the applications they receive from small businesses according to the Small Business Administration (SBA). And for small business owners with a low FICO or an open tax lien, these not uncommon financial situations are a red flag to a traditional lender.
With the economic fluctuations of the last decade, many business owners sacrificed their personal credit to keep their businesses going. As small business’ lending criteria at banks has become more restrictive, alternative financing companies have filled the void. National Business Capital, an industry leader, has less restrictive financing criteria, when making our financing decisions. We assist small businesses obtain additional working capital to:
- Expand their business
- Pay suppliers
- Renovate or refurbish their offices and public spaces
- Purchase new office furniture and equipment
- Pay support and services that will enable business growth
- Increase inventory
- Improve cash flow
- Fund payroll
- Build a new website
- Pay taxes
- Add new staff
- Buy-out a partner
Or any business decision that requires working capital.
Small business owners especially require additional cash flow to remain competitive. National Business Capital has assisted over 70% of our clients to receive financing after their banks have declined their applications.
Alternative Business Funding Solutions
We offer various types of alternative business funding that are suitable for your needs. Among the most popular alternative business financing options available are:
- Small Business Loan – Specially designed for businesses that have an opportunity or need working capital, this financing can improve cash flow and keep your business liquid. An injection of working capital can help your business meet obligations, including employees’ salaries, rent, utilities or other necessary expenses to keep your business going and provide additional time to regroup and recharge.
- Equipment Financing – Whether you lease or buy, obtaining the machinery, heavy equipment, diagnostic equipment, trucks or fleet vehicles, whatever is required from the vendor of your choosing. National Business Capital has no vendor restrictions, and once approved, the money can be allocated any way you wish.
- Business Line of Credit – To ensure that your company will be better positioned for those unexpected opportunities or issues that happen, your Business Consultant may recommend establishing a Business Line of Credit. Features of this financing include quick access to cash and that business owners only pay for what they use.
Alternative business funding solutions from National Business Capital have resolved many of our clients’ financial issues. However, it is our goal to form long-term financing relationships, so that whenever your business requires working capital, you will have a partner to turn to for a quick resolution. We will set up an initial consultation, understand your business requirements and guide you to the right financing for your current needs and source it for you. Our applications take an average of two minutes to complete and require far less documentation than traditional banks.
Our financing decisions are made within 24 hours using reasonable criteria and approved applicants receive their money in days. If your bank has denied your application for working capital, call National Business Capital at (888) 888-9124. We will strive to ensure your business receives the financing it requires to thrive.