This is a video that really drives home the point that the “bailout” Washington D.C. is doing DOES NOT WORK, and there are others who fill the void. No matter how you look at it, it looks like small business loan sharking, but it is better than no loan at all.
Would you do business with this type of guy?
So if we can’t find money from friends and family we might have to resort to these types of folks. The regular banks have seemed to turn tail on making loans to small businesses. What I am curious about is if small businesses are the engine that pull the economic train why isn’t there some sort of economic program set up by the SBA to get these types of loans in place? In my understanding the SBA does NOT make loans, they help guarantee the loans that the small businesses must get from the banks on their own merit.
While the lobbying efforts for Fortune 500 companies is substantial there really is very little lobbying for small businesses that is effective. If small businesses we just able to do two things:
1) be able to secure affordable loans
2) be able to get group coverage for health insurance at substantial discounts
We just might see the economy rebound significantly. Think about this just two simple things could get the economy jump started. Instead it seem like we have a snake trying to eat a horse with the new healthcare bill and the snake is not digesting it so well! ;-0)
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Small Business Lending and Loan Sharking
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What you say is very true. Banks are turning potential customers away, especially the small business owner. In turn they are now looking for different revenue sources, some may find family and friends to help but others may have to make alternative choices. Some small businesses are financing through cash advances which can be a short term help and provides cash flow.
Indeed, getting loans nowadays especially for small businesses is quite a pain in the ass. Banks and other financial institutions require so many paperworks and guarantees. Without being able to get the funds they need, businesses usually have no choice but to close down. Luckily, other financial options are trying to provide solutions for them, a lot of them online. It’s all a matter of looking for the right one.
Michelle´s last blog ..Merchant Cash Advance For Emergency Business Financing
Thanks for your valuable information, It is really help me to grow my small business.
I created a tutorial on my blog on how to install and set up WordPress. This tutorial is geared toward business owners who want to set up their own website at a low cost.
I have had small business, hard world out there.
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Looks like we are heading for a double dip to me, you are right the bail out will not work.
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If you google small business loans or unsecured business credit, there are companies out there that can get busines owners unsecured lines of credit. Not sure what they charge or the rates, but hey it is probably better than having no money for equipment.