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Every business business owner that lacks the necessary capital to face a daunting obstacle, or take advantage of an exciting opportunity for growth wants to know the answer to the question: “How hard is it to get a business loan?”
The harder the funding process, the more time, money and resources are exhausted by business owners who seek a business loan to accomplish their funding goals.
Read on to learn how difficult different financing processes typically are for different types of business loans, and how you can get the funding you need as quickly and easily as possible by choosing the right small business loans for your needs, and the right channels for obtaining the capital you need to achieve growth and expansion.
Giving a simple answer to this question is tricky. Depending on which type of business loan you’re after, and the policies of the lenders you apply for them through, getting the best business loan for your company can be an incredibly easy process, or a near-impossible task.
Let’s break down how hard it would be to get different types of business loans to give you a better idea on how you can make the entire process easier on yourself, and save yourself enormous amounts of time and energy along the way.
In short, alternative financiers like National focus on the value of your business as a whole when approving your company for a business loan, whereas banks will solely focus on credit score.
Traditional how to lenders won’t save you any time, and they’ll require an enormous amount of personal effort be invested in paperwork, but National won’t.
For example, if an SBA is what you’re after, don’t give up if you get rejected by banks—National has built strong relationships with lenders that specialize in getting small businesses approved for SBA funding that would be otherwise rejected by traditional lenders, and also speed up and simplify the financing process to secure their clients with SBA loans in as little as 45 days, instead of the 8 months required by traditional lenders!
The short answer is, it’s actually pretty simple once you get a firm grasp on what you need to qualify, and an idea of the sheer variety of simple business funding solutions available through alternative business financing.
Getting the capital you need to grow your business doesn’t have to be difficult. In fact, it could be really fast and simple! Just fill out National’s 1-minute application here, or call a Business Financing Advisor at (877) 482-3008 to ask how they can help you obtain the business loan of your choice in as little as 24 hours.
National Business Capital is the top FinTech marketplace offering small business loans and financing. Harnessing the power of leading technology and smart people, we’ve streamlined the application process to secure over $1 Billion in financing for business owners nationwide.
Our Business Financing Experts work within our 75+ Lender platform to match you with the right option. Easily access the best low-interest SBA loans, short and long-term loans, business lines of credit and equipment financing all in one place.
We strengthen local communities one small business loan at a time. For every deal we fund, we donate 10 meals to Feeding America!
Joseph Camberato, CEO of National Business Capital, developed a passion for business at a young age. Joe started his company in 2007 in his spare bedroom and has grown to secure over $1 Billion dollars in financing for small business owners nationwide. National’s team has an amazing culture and has been name the #1 Top Workplace on Long Island 3 years in a row and counting. Joe is a trusted financial expert who’s published more than 2,000 articles in the last 3 years. His articles have generated over 5 million page views and has been featured on blogs such as Google News, Yahoo, CNBC, Forbes Magazine, etc. His passion has also inspired him to build the "GrowByJoe” YouTube channel where he shares his insights into small business trends and tips for growth. Joe also holds a seat on Forbes Finance Council and is an active member of the Young Presidents' Organization (YPO), a global leadership community.