Small Business Funding When the Banks Say NO!
While banks may arguably be the best or at least the most convenient source of small business funding, they are not the only option. If your business has been turned down by the banks, then you can find alternate sources of funding that may work just as well, if not better than receiving a loan from a bank.
Cannabis Business Loans
The cannabis business is an expanding market with significant growth potential. New uses for the product appear on an almost daily basis. Unfortunately, due to the nature of the business, securing funding for a cannabis-based business can be difficult. Traditional lenders for business loans often refuse loans based strictly on the controversial nature of the product.
The Importance of Proper Credit Management in both your Business and Personal Life
Learning about credit management never stops. I thought I knew everything you needed to know about credit management and credit scoring but I was wrong. Over the past 3 months, my wife and I have made 3 larger purchases. I purchased a tread mill for my wife and, we purchased and financed two newer Range Rover Sports. Mine was a low mileage 2016 and while hers was a lower mileage dealer owned 2020.
Alternative Lending for Millennial-owned Businesses
Who are Millennials? Millennials or Generation Y are those born in or after 1981 to 2000, and they are taking over the world. According to current research, millennials are 1.7 billion individuals around the world.
The millennials are one of the largest ethnically diverse and technology-savvy population. Being born into recession and terrorism, molded them into people that are not easy to understand.
The millennials have been stereotyped as entitled and lazy but also innovative and creative.
Millennials fall between the ages of 19-35. It is not surprising that every strategy and business models revolve around them as they are moving to their prime spending years. So, many financial institutions are trying to cater to this demographic need.
In this content, we will get detailed knowledge about millennials and their problems with a bank loan.
Your Bank Said NO so What Do You Do Next?
Small business loans are difficult to obtain from traditional banking institutions. As many as two-thirds of small businesses are turned down by big banks. When your bank says no, how do you get the capital you need to continue building your dream? You need to find a small business alternative funding source. We at South Florida Funding Group pride ourselves on providing loans that help a small business grow and thrive without the hassle of traditional lending sources.
