Given the turbulent economy over the past decade, alternative financing from traditional banks has become far more difficult to obtain. The Small Business Administration has stated that traditional banks decline up to 80% of the loan applications they receive.
This alarming statistic has left many small business owners looking for non-traditional sources to assist them in gaining additional working capital in order to fill the void left by traditional lending sources.
National Business Capital & Services is a leading alternative financing company. We have greatly simplified the process small business owners undertake to receive additional working capital, yet our applicants will have access to many other types of financing than the banks offer.
Top 5 Alternative Financing Options
- Term Loans: Business loans with set terms, and set rates. Ideal for those that know exactly how much they need, and how much they feel comfortable repaying within a certain time period.
- Equipment Financing: Funding options that help business owners lease, upgrade and purchase new or used equipment for business use. No collateral is needed – instead, the equipment itself will be leveraged in exchange for financing.
- Loans for Healthcare Practitioners: Specialized business loans for doctors, dentists and healthcare professionals. These come with exclusive benefits that help grow medical and dental practices.
- Small Business Loans: A variety of financing options for small businesses, each with terms, rates and amounts that help entrepreneurs from every industry grow in unique ways.
- Business Lines of Credit: One of the most flexible financing options available on the market. With a business credit line, you only have to pay for what you withdraw from your credit line. Any funds you do not use will always be available for you to withdraw from immediately when needed.
Not every option will be right for every applicant. Our expert advisors will provide the assistance needed to help our clients qualify for and obtain the right financing for their specific requirements.
How to Get Alternative Financing from a Trusted Source
With traditional banks, the timeline from application to when the financing is actually deposited in a borrower’s account (if approved) can take several months. At the onset, both paperwork and documentation requirements can be extensive.
At National, applicants take an average of 1 minute to complete and submit their application. Personal and business financial documentation is not extensive.
Next, decisions are made within 24 hours using realistic criteria. For example, a low FICO score will not immediately disqualify an applicant. Nor will an open tax lien! Another alternative financing difference: the entire application to financing process may be carried out online.
Once approved, clients will receive their money within days. Alternative financing enables small businesses to run leaner and to maintain less working capital, yet they will have quick access to additional funds should an opportunity or issue arise.
Applying for Alternative Financing
Obtaining financing through National can make a huge difference in a small business’ efficiency and ultimately its effectiveness.
With National’s assistance as a trusted financial partner, small business owners can turn to our Business Consultants both now and in the future to ensure the continued success of their enterprise.
The non-traditional financing industry fills a void created by the economy and tightened credit at banks.
It also presents great opportunity for small business owners who wish to establish a long-term business relationship with a trusted and dependable alternative financing company – National.
We invite you to contact us with your questions by calling (877) 482-3008 or by applying online.