Many small businesses turn to their banks as a primary source of funding for new acquisitions, equipment, supplies, payroll and even to pay their taxes. Banks, however, do not make money extending credit in small monetary amounts that small businesses may require. It is estimated that banks accept only one in five small business loan applications.. To make the loan application process more complicated, the paperwork is quite extensive and likely requires a business plan, collateral, and a spotless credit history to receive consideration for their business funding. For many companies wondering how to get funding for a small business, traditional financing proves to be a blind alley.
Once a small business owner has been turned down for even a modest loan by their bank, they may not know where else to turn. Many a businesses have shuttered because traditional financing institutions would not grant them funding when they required it or took months to deposit loan funds into their accounts.
Alternative Funding: How to Get Funding for a Small Business
Part of the rise in successful small businesses nationwide is due to a growing awareness of alternative funding sources. Those firms researching how to get funding for a small business should contact National Business Capital and establish a sound financial business relationship. We have provided needed funding to just about every type of business and will review every business owner’s individual funding request. With an over 90% loan acceptance rate, many small businesses have received business funding right when their companies needed it most. To learn more, call us today: (888) 888-9124.