Nontraditional Ways to Get Small Business Financing

Posted by Nellie Akalp under Finance
From http://blog.corpnet.com 3205 days ago
Made Hot by: LimeWood on February 16, 2016 6:37 am

Small business owners who encounter trouble securing traditional loans have an ever-increasing array of alternatives to choose from.

Established banks working through the U.S. Small Business Administration offer the lowest interest rates on small business loans, but it’s tougher for entrepreneurs to obtain financing if their business is too new or too risky. Nontraditional lenders have stepped in to provide easier-to-obtain business loans for such entrepreneurs. The terms of this type of financing can vary widely, but expect to pay more for this speedier, easier option.

If you’re looking for a new source of cash for your business, consider these nontraditional financing possibilities.

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Comments

Written by lyceum
3199 days ago

Ben: Thanks for the input. Now I have to check out who Don Bluth is... ;)

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Written by UPmarketArt
3200 days ago

Love your piece! What do you feel are the drawbacks to microloans-as they are where you're from- compared to traditional loans?

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Written by lyceum
3201 days ago

I am all for crowdfunding. How big part is this kind of financing in the business environment at the moment?

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Written by BenMulholland
3201 days ago

Not entirely sure about the business side of crowdfunding, but I do know that it's becoming much more prevalent in fields of entertainment.

Some of the biggest hits in gaming this year have come from crowdfunding, and the avenue is even allowing revivals of franchises (and professionals such as Don Bluth coming out of retirement).

It'll certainly be interesting to see how much crowdfunding can lend itself to a business environment, although at the minute I'm a little skeptical at the size of the raised funds and the frequency of substantial pots. To be honest, I think it's naturally more suited to the entertainment fields, although I'd love to be proven wrong.

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