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SBA Alternative Loans

Bank Won’t Fund You? Secure Your SBA Alternative Loan.

  • No Social Security Number Required
  • Bad or No Credit SBA Loan Alternatives
  • No Business Plan? No Problem With These SBA Alternatives
SBA Alternative Loans

Find a SBA Lender Who Isn’t a Bank

Many banks advertise the cash they’ve lent out to small businesses as a selling point, but leave out the drawbacks: the necessity for credit history (usually five years), incredibly high profit margins and a required amount of collateral. These conditions make it nearly impossible for new small businesses or companies that are small in size but experience growing pains, to find funding. Plus, the ever changing lottery of interest rates makes borrowing from a bank risky in today’s economy.

There are plenty of non-traditional ways to get funding for your small business: venture capitalists, angel investors, crowdfunding, and even cash advances. The hard part is determining which avenue is the best for your business plan.

Alternative Lenders

Another method of financing becoming increasingly popular is some what of a middle ground alternative. These private lenders are typically able to lend up to $300,000 to business that have a moderate credit history. These companies use social media interactions, customer data and proprietary algorithms to creatively lend to companies that wouldn’t normally be approved. Their interest rates tend to be slightly higher than a bank, but much lower than the quick-cash and cash advance schemes.