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.

Small businesses account for up to two-thirds of the jobs in the U.S. economy. Our country, and the health of our economy, depends on small businesses. However, funding for small businesses has become harder to obtain. The recession of 2008-2009 hit banks hard and they significantly reduced their lending in response. Although the economy is doing well, banks have not returned to their pre-recession lending amounts. This means a smaller pool of money available.

Traditional banks and lending sources see small businesses as a gamble they are unwilling to take. Too many small businesses do fail, but a significant number of these failures happen because of the difficulty in obtaining capital.  Alternative business funding sources have bridged this gap and small businesses have come to rely on this type of funding more and more.

Our alternative business funding sources are backed by companies that see the potential for small businesses. You can expect complete transparency throughout the process because we want to see your business succeed. Our lenders are willing to take risks associated with lending to small businesses because they have seen the exponential growth many small businesses are capable of obtaining.

South Florida Funding Group understands that all businesses require capital to grow, but small businesses often struggle with the limitations of traditional lending. We trust that you know the right time to invest and expand your business, and work hard to find the resources you need when you need them. We provide small business funding in South Florida but are not limited by this geographic location.

Why you should consider South Florida Funding Group as an alternative business funding source:

We see small businesses and the people behind them as more than just a credit score. We are a single source of multiple alternative business funding sources, allowing you to choose which is right for your business. In addition, South Florida Funding Group offers:

• Merchant Cash Advances
• Unsecured Business Line of Credit
• Unsecured and Secured Business Loans
• Commercial Real Estate Investment Loans
• Residential Investment Business Loans (includes fix and flip)
• Business Loans Utilizing New Market Federal Tax Credits
• Equipment Leasing and Financing
• Cannabis, Hemp and CBD Business Loans
• SBA Loans

For details regarding the above-listed funding options, and what they can mean for your goals for your business, visit https://www.southfloridafundinggroup.com/funding-programs for more information.

We serve a wide array of businesses that often struggle with obtaining financing. Some of the industries we serve include:

• Agriculture
• Automotive/Transportation
• Beauty
• Construction
• Food & Beverage
• Healthcare
• Manufacturing
• Non-profit
• Retail
• Services
• Utilities
• Wellness

Your bank or another traditional lending source probably requires a long, drawn-out, and sometimes expensive, application process. After working hard to provide them with all the documentation they require, you will often face a long wait along with time-consuming requests for more information. To add insult to injury, it can take weeks to months to work through the loan process, only to be turned down in the end. During this time, many small businesses struggle or see opportunities pass them by.  Banks cite reasons such as a weak credit score for the company or being too new, creating an insurmountable obstacle as businesses must start somewhere.

The advantages of using alternative lending sources:

• Speed—traditional lending sources can take a long time to process your requests for a loan. If your need for operating capital can’t withstand the wait, you want to explore your options with alternative lending sources. Some opportunities really do only come along once in a lifetime. If you see such a chance and know that it may be gone before you can get traditional financing, then exploring alternative lending can help you grab a fleeting opportunity.
• An inability to qualify for traditional loans—for whatever reason, you may know that you do not currently qualify for traditional lending. Your credit history does not have to prevent you from building or growing the business of your dreams. Alternative lending sources can help you build your business while you take the steps to repair your credit history.
• Flexibility—many sources of alternative lending do not face the same regulations as banks. The lack of regulation means they can offer more flexible options in approvals, collateral, re-payment terms, and loan amounts. Using the flexibility of alternative lending sources, you can devise the type of loan you need for your business purposes. Your business model and plan are unique, and the type of lending you need will likely be unique as well.
• Relationships—alternative lending sources often allow you to establish a relationship with their company over time and lower your rates as a reward for the timely repayment of loans.

Many small businesses rely on loans from friends or family to get started or to see them through the expected ups and downs of starting a business. Unfortunately, these types of loans are not an option for everyone and can come with their own difficulties, and often unreasonable expectations. Angel investors are another option, but the process is also lengthy, and there are only so many investors willing to take a chance on a new business.

Alternative sources for business loans can help your small business get established or take advantage of a growth opportunity. If you have a business plan, manage your business carefully, and develop a record of stable growth, you increase your chances of qualifying for traditional lending opportunities. Using the alternative products we provide to get your business on a stable footing can bridge the gap between starting and running a successful business.

We invite you to explore, risk-free, the options that we can provide. Our application process is short and painless. You can view the application process, then decide if you want to move forward.  There is no costs or obligation to apply.

Working with a single source of alternative lending resources helps simplify the process. The South Florida Funding Group can help find the options available to you and help you decide which type of funding will best suit your current needs. Having all your options in one place saves you the time and hassle of applying to multiple alternative lenders.

Consult with Drew Cashmere, your own dedicated funding manager. Drew will explain the resources available and help you decide which is best for your business goals.  If you have questions about the process or need to reach Drew, you can contact him at This email address is being protected from spambots. You need JavaScript enabled to view it..

At South Florida Funding Group: WE FUND THE IMPOSSIBLE, EVEN CANNABIS!