Business loan volume is an important indicator of economic health and recovery. Small businesses, as one of the major forces of job creation and employment in the US, need capital in order to effectively grow and pursue larger opportunities. It follows that the more capital they are able to obtain when they need it, the more robust sign of positive economic activity. However, a trend of small business loans increasingly going to businesses only on the largest and most developed end of the spectrum has been reported on in multiple business journals, including in a recent Forbes article where it was cited that 42% of small business owners seeking small business loans were denied by traditional banks, and small and micro business lending are both down, although big business lending is up. Bad credit business loans are providing some options. The growth of bad credit business loan alternatives in response to the dearth of readily available capital can be seen as a natural reaction to the credit crunch.

Bad credit business financing isn’t easy, but then again financing a small business, even with sparkling credit isn’t a walk in the park. When you are in the process of repairing your bad credit, applying for a bad credit business loan alternative can be a way to move your business along despite the problems that you would normally experience applying from a lending bank. That being said, you are going to have to plan accordingly in order to avoid damaging both your credit score and your ability to apply for bad credit business financing in the future. Ensure that you are ready to expand. The financing that you apply for should have a clear use envisioned on your part before you seek it out. For example, on common use for bad credit business financing is to use it to purchase inventory when existing inventory is not sufficient to fill a large order from a big client. In this case, it’s clear that costs will be able to be

Bad credit business financing can be tough to come by, since credit is such an important factor in the underwriting process of most banks. Still, bad credit does not mean that business owners are totally unable to find loan alternatives that can work for them. Increasingly, entrepreneurs in the US are using bad credit business loan alternatives to grow while they recover from bad credit scores, or as a mean to accelerate their ability to handle high sales volume. Given the relatively newer importance of bad credit business financing products, small business owners may not be sure what to expect when they apply for this type of funding. Consistent performance is a strong positive when  applying for bad credit business funding. If your business has been on the downswing, you can still get funded and apply working capital to new projects, but when bad credit business loan alternatives really have a chance to shine is when your business is reporting month over month growth. Keeping a tight

The availability of business loans for the small and medium sized businesses that one typically thinks of as being representative of independent entrepreneurship in the US took a historic hit with the “credit crunch”, which started around 2007 and has persisted, although with signs of general thaw, until now. However, while statistically, small business loan volume is recovering, there has so far been a larger amount of loan volume going to business on the bigger, more established side of the somewhat broad definition of what constitutes a small business. In this financial landscape, business owners are increasingly turning to business loan alternatives, provided by a newer, more nimble breed of financing companies. As this trend is still relatively new, and there seem to be more of these companies out there every day, it’s important that business owners be able to successfully identify which ones have the ability to help the most. In general a good way to identify a positive financial resource is to investigate

While news of the recovering economy and increasing small business loan volume should be a cause for celebration, many small business owners aren’t feeling the sense of relief that others are reporting on. The Huffington Post recently pointed to statistics that paint a slightly different, yet importantly distinct picture. Business loans have gone up, but mostly to larger, more established businesses, while volume for medium and smaller businesses has actually gone down. Big banks are moving progressively farther away from small business lending, or are focusing on businesses that, while technically included in the category of SMBs, are towards the larger end of the spectrum and considered to be safer bets. Small business owners often don’t have traction with banks that have higher standards for approval than many of them are able to meet. Bad credit is a major issue on the part of small business owners looking for capital, but other issues that can stop them from getting approvals include being in industries that

There are many financial products geared for small business owners out there. Since the financing landscape can be so alien and complex, small business owners might not be fully aware of the range of options available to them. For small business owners who, due to bad credit or other financial issues, can’t find financing from traditional small business loan programs, the issue can become a lot cloudier. Aside from taking the time to create a plan regarding when to apply for financing, they also need to consider what they are eligible for in the first place. Where bad credit business loan alternatives fit in. More commonly known as merchant cash advance, these products function similarly to small business loans, but emphasize monthly sales over credit score as their main criteria for approval. These products are typically much faster to get approved for than business loans since they don’t require collateral, so for business owners who have bad credit or for those who simply need fast access to

  Bad credit business loan alternatives have no restrictions on use. This means that for business owners who use this type of financing, the sky truly is the limit for how creatively they allocate their capital. While it’s typical for business owners to use bad credit business loans and similar products to purchase equipment, make payroll for new hires and expand their businesses to new locations, it’s also possible to use this type of financing to pursue business improvements related to the office environment. Making your office a more comfortable and productive place to work has benefits which range form reduced employee turnover to a heightened ability to relay information. Using small business financing to update tech. Each week in a typical small  business, multiple hours of work can be lost through the cumulative effects of faulty technology. Many things can get in the way of business owners updating their technology, which typically include a lack of time, a perception that the tech is not really that

While there are many things that differ from industry to industry, and even from business to business, there are a few things that remain constant for every business owner. One of these is the need for a formal business plan. A business plan is required for everything from applying for a loan from a bank to recruiting business partners and top level employees, so it pays to have one that is both up to date and up to industry standards at all times. This isn’t a one time thing either. As your business grows and the markets you are in change, you are going to need to reflect this in your business plan with edits, additions and omissions. Something as simple as one key piece of information that is either wrong or outdated can make your business plan look bad no matter how clean the rest of it is, so keeping this document tuned up and ready to be looked at is a wise strategic

Navigating the financial landscape that comes with running a small business is often difficult, and it’s made even more tough by the presence of certain potholes and mirages. One common scam that small business owners should be aware of is the grant scam. How does a grant scam work? This type of scam is kept alive by a simple misdirection. Business owners will either stumble across or otherwise be made aware of a grant that their business is able to apply for, which, should they receive it, will give them what essentially amounts to free money. This should be the first logical red flag, but many business owners are willing to take the existence of grant programs at face value as fact. Once the business owners are sold on their grant applications, the next phase of the scam kicks in. You will be sold (or attempt to be sold) an expensive audit of your business plan, additional help filing your request, a one time fee, or

Let’s face it, we love our employees, but when cash flows are tight, it can be tough to find extra ways to show them how much we appreciate them. Fortunately, it’s often the thought that counts when it comes to providing employees with extra on the job benefits, and with a little creativity and a positive attitude, you can make a little budget go a long way. Some of the benefits of providing additional fun for your employees are more dedication to your company, as well as potentially more hours spent on the job bouncing ideas off of each other. This can lead to much more creative solutions coming from your team, as well as a better atmosphere in the office for communication. Many start ups and high growth companies make it a point to have many employee perks, and seeing as how a large number of them do quite well, it’s not a bad idea to inject the same level of excitement into your

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