Article Side

Online Article Directory!

Hello Guest! Login or Register to submit articles!

When a Bank Says “No” to Your Business Loan

By Merchantpmf Subscribe to RSS | April 17th 2012 | Views:
loading
 
  



The small business loan industry is changing. These days the economic situation in the United States has had a serious impact on the way small businesses function along with how they find funding. The small business loan industry was once dominated by commercial bank loans and credit unions, which have always been the traditional source of funding. Today these sources for small business loans have dried up to a large extent as they cut back on their commercial loans programs to cope with the credit crunch and the burst in the housing market.

So where does this leave our small business owners? For many it means difficulty in finding funds. Bank loans have always been difficult especially for business owners without great credit scores or any liabilities. Today the restrictions are even stricter, calling for qualifications that many business owners cannot hope to fulfill. So what are these businesses to do? Close their doors or put off improvements and expansions indefinitely? There is almost no small business, which can afford to open a new location or conduct major renovations without some sort of additional funding from an outside source. Instead of stagnating with the economy how are these business owners to make it when the banks shut their doors to them?

For this reason, the small business loan industry has begun to change to accommodate the higher demand for alternative loans. Many businesses have begun to look at grants or industry competitions as a way to fund their businesses or get start up capital. These can be timely processes and often there are many more applicants than funds available. For others in search it means to turn to providers of merchant cash advances or unsecured small business loans.

Not long ago these types of funding were reserved for the service industry and others who couldn’t qualify for a bank loan. Now that more and more businesses in many industries are finding themselves in the same position, these merchants are turning to these business loan alternatives. Any business that accepts credit cards as a form of payment is eligible for a merchant cash advance and unsecured small business loans. The reason many merchants prefer this form of funding is because they are able to pay back the funds as money comes in. The funds are taken directly from the credit card sales leaving the merchants free of the responsibility of remembering to mail in payments or to worry about arbitrary deadlines, which have no correlation to the amount of revenue they are bringing in.

For many merchants, learning more about merchant cash advances and unsecured small business loans can help them make a decision based on their better understanding for the system. On top of that, it may help them feel better about the state of the small business loan industry when they find that they are not alone and there are still providers out there who are interested in helping them with funds for their businesses.

Irish Taylor is a business finance consultant with Paramount Merchant Funding and has been providing business owners with financing since 1992. For years she has helped people qualify for a small business cash advance.

Merchantpmf - About Author:
Irish Taylor is a business finance consultant with Paramount Merchant Funding and has been providing business owners with financing since 1992. For years she has helped people qualify for a small business cash advance.

Share on Facebook Tweet It Stumbleupon this post This post is delicious !

Article Source:
http://www.articleside.com/marketing-articles/when-a-bank-says-no-to-your-business-loan.htm

Related Marketing Articles Subscribe to RSS

Reseller hosting provider: an opportunity to the new line in online business
Published by Genevieve Ackles on February 15th 2012 | Business
If you are working in IT industry and are looking for new business opportunities, there is a good op...
 
Business suites and modern offices at a reputed Manchester business centre to complement your thriving business
Published by John Smith on June 22nd 2012 | Business
If you have it, flaunt it. This saying holds true when it comes to finalizing a business suite or an...
 
An HSE Risk Assessment is crucial for any business
Published by Mary Porter on June 16th 2012 | Business
If you are a company with some staff to look after it is essential that you get an HSE risk assessme...
 
How a merchant cash advance can benefit your business
Published by Merchant Cash on March 29th 2012 | Business
Running a business is a big deal indeed, with the different aspects of business needing different st...
 
Promotional products for the efficient promotion of business
Published by Anoshan on July 21st 2012 | Business
Good promotion is very necessary for any small or big business. Advertises and hoardings do the work...
 
Financial management of a small business
Published by Adam Walker on April 11th 2012 | Business
Small business owners tend to many times think that it is best to do all the work by themselves. Tha...
 
Three valuable guidelines for flower business
Published by Loo821ql on January 10th 2012 | Business
Do you love seeing flowers in a well and beautifully arranged manner?...
 
Telemarketing service is the ultimate support for any startup business.
Published by Idea2result Result on March 30th 2012 | Marketing
The earth is a place where anything can happen at any point of time and this is both literarily and ...
 
Having a presence can provide considerable advantages business in Dubai
Published by Tim Robbin on December 28th 2011 | Business
Having a permanent office in Dubai is able offers many advantages in the Middle East. Businessmen o...
 
Why have business valuation
Published by Grey Knuts on August 14th 2012 | Business
There are relatively easy steps that can enhance the value and salability of many, if not most busin...
 
Web design- tool for success in business!!
Published by Sudhanshusnv on February 29th 2012 | Business
A professional web design firm is a great investment for any business. There is a great chance that ...
 
Are you looking for Spray Booths for Sale for your business?
Published by Mary Porter on June 20th 2012 | Business
Spray booths are a useful tool for many firms in a range of different sectors, and there are a numbe...
 
Business Law gives smooth flow to every business
Published by Wills Loren on March 7th 2012 | Business
feedbackhere.com: We provide Law services most event planners have something directly to them, in ma...
 
Are you looking for new Lifting equipments for your business premises?
Published by Mary Porter on July 5th 2012 | Business
Many companies in a huge range of sectors regularly have to work with extremely heavy items and equi...
 
The reason why a business needs an online mortgage loan processor
Published by Amitaabh Saboo on December 1st 2011 | Business
The housing market is one that has a lot of competition, and therefore, a small or medium sized comp...
 
Managed printer service for your business
Published by Glyn Jones on December 15th 2011 | Business
If you own a small business, then you would have of course realized the advantages offered by the ma...
 
Order fulfilment houses are the helping hand for your business
Published by Diego Hall on January 9th 2012 | Business
Handling a huge business alone is an impossible task and hence some works can be outsourced to other...
 
Save money for business viewpoint with Bostonstore.com promo codes
Published by Gayathri NithyaDevi on April 30th 2012 | Business
Deals365.us-It is the right place for your all your shopping needs to save money. Find Bostonstore.c...
 
How important is business bookkeeping services in your small business?
Published by Matthew Thomas on February 22nd 2012 | Business
Bookkeeping services have helped companies in many ways which in turn helps a company grow. it has t...
 
Unsecured business loans as fast and active funding option
Published by Macrobusinesscapital@gmail.com on December 30th 2011 | Business
Being a small business owner the need of financing is always there to get your operations running or...