Fast Small Business Loans - not for the faint of heart

So, you need money for your existing small business?

Maybe you need to pay salaries. Maybe your suppliers will not deliver without a fee. Maybe the rent is due. Maybe you need or want new equipment. Or maybe there is an opportunity not to be missed.

Or maybe you do not have a business, but you want one. You have a great idea, you have a plan ... you know it will work. You just do not have the funds.

What is quite clear is that there is no shortage of entrepreneurs and businessmen "Wannabe" out there, with no shortage of cash needs. The problem is actually getting that cash in today's financial times disgusting.



The traditional options of credit to enterprises are:

1) Business Loan: This is where you apply for a loan from an investment bank, to give them any information, you personally sign your house away and activities (and sometimes children too ... okay, only kidding, a little '), usually pay large upfront fees and high rates, and then subsequently have to bow to your banker (which changes every few months) so that you do not call your loan. Typically payments are monthly, with a term of anywhere from 2 to 5 years. (You can detect a little 'animosity towards these types of loan here?)

2) Bank Line of Credit: Apply all of the above to a line of credit, only that instead of having a loan with a lump sum and monthly payments order, you are given a credit line from which you can borrow and and loan repayment, again and again. (That's why we speak of a loan "revolving credit", it goes up and down.)

Now here is an insider's secret on bank loans and credit lines.

You can not get!

Ok, maybe it could be possible, but it would be the rarity.

You see, banks are pretty much no loans to "normal" anymore. They simply have too much pressure to take the risk ... so that only provide amazing "Perfect" borrowers. In short, we provide individuals and organizations that represent a credit risk +.

Unfortunately, if you need financing that "there is" an A + credit risk.

So, what can the rest of us to get funding for our small business?

Do not leave the bank.

(By the way, if you do not believe me, go ahead and apply for funding from the bank. We wait. Come back here after you've been turned down ...)

Back?

Ok, here's another insider secret to get a line of credit these days.

You may need to go to non-conventional lenders.

A non-conventional finance is essentially a legal entity that will lend you the money. Sometimes business owners use credit cards for this business, sometimes rent equipment from a leasing company, sometimes just real hard to borrow money from loan sharks.

One financing option is increasingly popular line of unsecured credit.

The easiest and fastest is the line of small business and personal credit. This type of a program is similar to a bank line credit, or a revolving credit.

However, when working with a lender you can actually legitimate unconventional be approved and get the funding, usually from $ 10,000 to $ 250,000. Depending on the program, which usually is not necessary to provide documentation such as tax returns earlier, tax returns, financial statements or business plans. How are guaranteed, you can not also need to devote your home, children (!), Or other assets. You can find these with no entry fees (although you may need to provide your credit reports).

And, if you need finance fast, you can often get funding in 72 hours or less.

These lines are also available in the market today sucks? For "normal" borrowers?

Absolutely.

Now, here's the "fearless".

These programs are not cheap LOC. While reasonable interest rates and conditions are available, is often plagued with a "success fee" (or points) when they are financed. Why? Because times are tough, and lenders are taking a risk (also know that if you can get this loan from the bank, you would do). Is this unreasonable? Hey, it's their money. You simply need to determine how much you are willing to pay for it.

One caveat ... There are a lot of scams out there right now. Those "guaranteeing" that will be funded. Those who claim tax-free. Those who say how easy or almost anything they want. So, be careful.

When all is said and done, unsecured small business loans and lines of credit are available.a...