How to Get a Small Business Loan?
Marcellous Curtis
Traditional banks are reluctant to lend many to small businesses due to a lot of reasons.
fi
Insuf cient Collateral
Debt to Income Ratio
fi
Insuf cient Credit
Customer Concentrations
Personal Guarantee
Economic Concerns
Small Business Lending Statistics & Trends
Small Business Lending Statistics & Trends (USA) 50
43
38
48
25 13
9 0 Small Business Loan Application small businesses in 2019 overall small met businesses nancing received needs no capital after applying for a loan
fi
fi
Small Business Loan Application in 2019 small businesses overall met nancing needs small businesses received no capital after applying for a loan
Your best options to get a small business loan
fi
fi
There are several online alternative lenders that loans to small business owners that they can choose as per their current nancial requirements. You can use an online lending marketplace to nd these lenders and compare a variety of loans sold by them such as startup loans, equipment nancing, line of credit, term loan, invoicing nancing, and more.
fi
fi
Online Alternative Lenders
Crowdfunding
The second great way to secure a small business loan is crowdfunding. There are a lot of really good crowdfunding websites that help young entrepreneurs to raise money and grow their businesses.
Angel Investor This is another funding option to get working capital for your small business. In this type of business funding, an angel investor provides capital for a business startup in exchange for some share of equity in the company.
Small Business Administration
fi
ff
ff
If you have a perfect credit score, amazing business history, and pro table business, you can secure an SBA loan for the growth and success of your small business. SBA also o ers many di erent types of business loans to help entrepreneurs get started in their new venture.
Thank you!