Small businesses have always had a hard time securing reliable loans from most standard financial institutions. Often times, trying to get a loan from a bank could take a long time, despite a business needing additional funding as soon as possible. Not every loan application would go through successfully, leaving the small business to figure out a way to generate additional revenue in a very short period of time.
Banks and other financial institutions typically have very high financial requirements that make it difficult for small businesses to qualify. If a small business could meet most of the bank’s financial requirements for a loan, there’s a good chance that small business didn’t really “need” a loan.
Smart Business Funding has been the answer to many small businesses’ need of supplemental income and additional funding, even when the banks would turn them away. We are driven by helping small businesses succeed by providing an additional revenue stream that is reliable, easy to acquire and can be provided in short periods of time.
Recessions Make It Harder to Get a Loan from a Bank
During the recession, and even post-recession, banks have been very hesitant to loan to businesses of all sizes. However, because small businesses are not always financially stable, banks are even less likely to offer funding to small businesses through loans to help keep them operating and growing.
Smart Business Funding has always been there for small businesses, regardless of the status of the recession. As a result of banks not providing as many funding opportunities as they did before, there has been a drastic rise in demand for alternative loan options.
Smart Business Funding has consistently provided alternative funding options to businesses of all sizes, including small businesses. With very basic financial and business requirements (3 months of business operation + $10,000 in monthly revenue), it’s easier than ever to receive additional funding for your business.
Merchant Cash Advance Options Are the Perfect Loan Alternative
Instead of having to pay high interest on your loan, our merchant cash advance is a great alternative. To pay off your small business loan, a small percentage of future credit card sales will be captured and used as payment until the loan is fully payed off. This gives small businesses a tremendous amount of flexibility in paying off their loan while gaining immediate access to the funds they need.
Contact Smart Business Funding today to learn more about how our merchant cash advance program can help your business thrive! We want small businesses to succeed rather than have to try and get unreliable loans from other financial institutions.