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How to get a Business Loan

 

Getting a business loan in today’s market is not an easy proposition.  With the mortgage meltdown and tightening of the residential lending market we have also been seeing a tightening in the business lending marketplace.   

 

If you don’t have perfect credit and a great financial statement it is you are probably not going to qualify for a bank loan in this market.  However, money is still available.  And Business Funders can help you get it.  We find out what type of capital your company needs and work with you and a variety of lenders to find the program that is best for your situation.

 

There are quite a few options for entrepreneurs.  A hard money is a good option if you have assets such as land.  Hard money loans are commercial loans that use assets, usually real estate, as collateral.  These loans are not considered as risky for lenders they have collateral that can be foreclosed on if the borrower defaults on the loan.   

 

For a startup, venture capital might be a good solution.  There are two main sources of venture capital, venture capital investment firms and angel investors.  Venture capital investment firms pool money from investors to loan to other businesses in exchange for equity in the business.  Most of these are medium to large loans.  Angel Investment Groups are smaller groups of individual investors.   Both types generally loan seed or start up money, but they sometime do mezzanine financing, at later stages of business. 

 

An accounts receivable loan might be right for your business if you have an established business but do not have real estate assets to use as collateral.  This type of loan uses a companies’ outstanding account receivables as collateral.   A business may get a loan on receivables or possible use account factoring and actually sell their receivables at a discount.    

 

These are just a few examples of the many types of loans still available.   Business Funders professionals can help you to narrow down to the best possible solution for you individual business situation.  Our goal is to get you the money needed fast with the best possible terms. Whether you are a start up or have been in business for many years Business Funders and our lending connections can help your company meet its goals. 

  

 

 

 

 

 

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