Business Financing Options That Circumvent Local Banks.
Business Financing Options That Circumvent Local Banks. Financing your own business maybe somewhat daunting, but a rewarding process. However, financing a startup or small business can be a difficult, drawn-out process, especially for those with poor credit. While there is no minimum credit score you must have to get a business loan, traditional lenders have a range they usually consider acceptable. If you have a low credit score and no collateral to offer, consider an alternative loan. In this article, we break down 11 small business funding options, examine the benefits of alternative lending and provide tips on how to finance your business. Business Financing Options That Circumvent Local Banks. Why is it difficult for small businesses to get loans from banks? Capital is difficult for small businesses to access for several reasons. It’s not that banks are against lending to small businesses — they want to — but traditional financial institu