Are you looking for small business loans? A small business doesn’t have a smooth ride throughout a given year and two consecutive years may also be very different, especially in regards to revenues and profits. In such a climate and in such a world, a small business may be in need of a small to medium sized loan from time to time.
The largest conglomerates always have some pending business loans, in most cases there is more than one and the amounts are huge. It is only a small business or a medium sized enterprise that doesn’t get as much loan as it should. An old saying, money begets money, is an irrefutable truth.
If you are a small business owner and you are in some financial crunch, then you will need to opt for a loan. You may not get angel funding or you may not have enough savings to fund your business problems. But getting a small business loan is not that easy. You need to understand how the loan industry is working and what its state is. The State Of Small Business Loans is going to get you accustomed with the challenges that you will be dealing with and also give you an idea of what you should be doing to either do away with those challenges or to opt for an entirely different proposition.
More than $25 Billion was approved as small business loans in 2013. That amount is not meager but it will appear to be ridiculous when you find out that more than $5 Billion was raised through crowdfunding the very same year. Centuries old banks and an archaic concept of business loan is managing to issue or approve only five times the money that crowdfunding raises, which is basically a concept that has been explored for only three years.
What will astonish you further is that almost half of all small business loan applications have been rejected in 2013. That scenario is unlikely to change and there is no reason to believe that banks will be approving more amount than what had been provided last year. If you are in need of a loan then these numbers are certainly not good news.
But you can always look for alternatives. There is small business working capital loan and merchant cash advance which can attend to your short term financial challenges. Explore the info-graphic to know more.