Small Business Bank Borrowing Tips for Companies in Need of Capital Amid Slow Economic Rebound

I recently blogged about how banks are still reluctant to finance small and middle market businesses . Even as we head into a slow economic rebound, the constriction of credit in the marketplace remains a challenge for many companies that need growth capital for hiring new staff, developing new products, and expanding into new markets. 

Here are a few tips on bank borrowing for small businesses who have had difficulty obtaining new credit or have been denied adequate financing by traditional lending institutions.  

1) The application process can be very challenging and after you submit copious documents you may still get turned down. At this point, you need to realize that you're not bankable and seek alternative financing options, which is a solution the bank isn’t going to tell you about.

Learn more about Alternative Financing Solutions: Securing Small Business Loans for Working and Growth Capital.

2) When soliciting loans, commercial bank standards are similar so if you get rejected once, you need to try something else. While many businesses are either struggling to stay afloat or finding it difficult to capitalize on upcoming commercial growth opportunities, others are taking advantage of innovative alternative financing options to secure new financing even in tough times for small business lending.

What many businesses don’t realize is the extent to which they can leverage their business assets to secure funding. Alternative financing options can help businesses unlock the value of their assets to get the backing they need when the commercial banks say ‘No.’

For instance, read more about How Manufacturers Are Leveraging Their Business Assets to Secure Financing 

3) Regional banks are generally good for small businesses. However, if you don’t fit their lending criteria, there are alternative lenders that are more specialized and can help your business secure the funding it needs.

Check out how the New Paradigm for Small Business Lending Focuses on Service and Customized Financing Solutions that Best Serve Borrowers' Needs

4) Finally, be wary of banking for small business statistics: These statistics may be deceptive, so they shouldn’t scare off businesses from seeking financing. For example, when stats report that small business borrowing is down, you have to take into consideration that growth and demand for loans is also down. Banks are still making loans, so it’s important to not rely too heavily on statistics when looking for financing solutions for your business’s unique needs.

Since 1998, US Capital Partners has been providing prompt, innovative, and reliable financing solutions including lending, corporate financing, and debt re-structuring to businesses across the United States and abroad. We will give your business the attention it deserves and find the most suitable product for you. We offer true one-stop financing and will work in partnership with you throughout the lending process. If you would like to know more about how your business can secure the funding it needs, visithttp://www.uscapitalpartners.net/ or call (415) 882-7160.

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Businesses Still Struggling to Borrow Money Have Promising Financing Options Amid Slow Economic Rebound