What Are The Alternatives to SBA Financing

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What Are The Alternatives to SBA Financing
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SBA loan is still just a bank loan and if you
treat it as such, it will still come down to many
of the same factors and elements that are
required for banks and other lending institutions
to loan you the money.
If you arent willing to fill out mountains of
paperwork or put down a personal guarantee, a SBA
loan may not be right for you.
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Invoice Factoring
Need access to capital right away? Then, invoice
factoring is the best way to get it. It is really
just an exchange of cash for an asset.
A provider can have the cash in your hands in
less than 2 days and usually receives repayment
through a fixed percentage from your daily
receipts.
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Equipment Leasing
Another way to get the equipment and supplies you
need is through an equipment leasing program.
With this program, you bypass the banks and the
loan stage and skip right to the part where the
equipment is delivered to your business.
With equipment leasing, you not only have access
to the best equipment when you need it, but you
can get the equipment for very little money down
and some reasonable monthly payments.
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Equipment leasing is becoming more popular with
many of todays small businesses and is one of
the better alternatives to an SBA loan. With
equipment leasing you get new equipment, low
monthly payments and less hassles than you would
normally get with the loan process.
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Working Capital Loans
There is another alternative to SBA loans that is
fast becoming a popular competitor its called
the working capital loan and it is a loan based
on the gross sales of your company.
This loan is especially good for new startups and
small businesses that dont have much in the way
of a credit history but still need funding to
take their business to the next level and remain
competitive.
A working capital loan is a much easier
alternative to a SBA loan and this has many small
businesses choosing it over SBA loans.
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The SBA loan program is a good opportunity for
startups and small businesses but there are
alternatives and there is something available to
suit every business needs.
Finding one thats right for you is easy and
could save you a lot of time and hassle in the
future.
Original Source
Alternatives to SBA Financing
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