Loan Options

I saw an interesting article on Inc.com discussing some of the small business loan options available. The list was by no means exhaustive, nor was it meant to be. It contained sufficient options and enough data about those options to get you to thinking creatively and help you to realize that there are other options besides bank financing if your company just doesn’t qualify for any bank’s business loan yet. In other words, it was my type of article. Here’s an excerpt:

“The good news: Recently, government initiatives, such as the Small Business Jobs Act, have bolstered small businesses and freed up lending lines—and the proof is in the numbers. In Capital One Bank’s 2011 survey, 85% of U.S. small business owners said they were able to get the financing they needed.”

Go to the article, The New Rules of Getting a Loan, to read more. (One comment. This title is a misnomer. The rules are not new. They may be stricter but otherwise they’ve been this way for years. And the article mentions a staggering drop in small business lending. If a 10% drop is a staggering drop especially in a recession, then what would the author call a 20% drop, ‘earth shattering’? Remember when you read the article that journalists use inflammatory language to engage you and get you to read the article.)

Hope you are enjoying your 4th of the July weekend! (assuming, of course, you reside in the US)

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About Tiffany C. Wright - The Resourceful CEO

Tiffany C. Wright is the author of “The Funding Is Out There! Access the Cash You Need to Impact Your Business” and “Solving the Capital Equation: Financing Solutions for Small Businesses.” She is the founder of The Resourceful CEO, which helps owners of small/medium-sized businesses prepare their businesses for sale. Tiffany has an MBA from the Wharton School of Business, sits on non-profit boards and serves as a business mentor with the Cherie Blair Foundation.
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