S
ince the economic downturn, small business owners seeking funding for operation and growth are finding it increasingly difficult to secure financing from banks and commercial lending institutions. As Project Director and Business Consultant for a non-profit organization and providing Technical Assistant to small businesses seeking funding through the SBA Community Express Loan program, several of the SBA lenders that I work with admitted being reluctant to lend but feel a little ease since SBA guarantees 80 percent of the loan programs.
What does this mean to small businesses? When traditional bank financing is unavailable, small businesses need alternative business financing sources to start or stay in business! To help, here are 7 alternative financing options for small businesses.
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