Inch Closer To Your Business Expansion With Online Business Loan Uk!

A small step of applying for an online business loan uk can inch you closer to your business expansion!

Make the best use of an online business loan uk to improve your day to day cash flow and enhance your business in the long run. Only a uk business loan can meet your needs for setting up a new business firm or expand an old one in UK.

A UK borrower can seek out for online secured business loan uk to start a new business or to grow an established business, online uk business specialists will work with you to find the right business loan for your specific needs. A new business loan would be the right one for you, be it to start off a fresh in your business OR move to a new business location, then a new online business loan uk would be the right one for you.

Different options available to an online business loan uk borrower looking out to fund business requirements are as follows:

Small online business loan uk

New online business loan uk

Business online startup loan uk

Secured online business loan uk

Unsecured online business loan uk

A small online business loan uk caters a borrower looking out for small business finance to fund his smaller business requirements. One can be easily approved for such an online business loan uk even without a collateral as it calls for a smaller loan amount.

New online business loan uk caters a borrower hunting for a fresh start in his business it could be on a smaller scale or a bigger scale, a secured one or an unsecured one. Move to a new business location with new online loan for business.

Secured online business loan uk helps a uk homeowner to fund his huge business loan requirements. It is the security that holds the key to your cheap loan rates and offers 100% loan approval with a loan backed with security.

Unsecured online business loan uk enables a uk borrower to raise business finance in the absence of a collateral. It is rightly designed to help the uk tenant looking out for immediate business finance. As there is no collateral attached a tenant takes no risk of losing out any asset. Your business loans are made instantly to you as there’s no verification of collateral carried out.

Run your business plans smoothly with online business loans uk regardless of your bad credits, ccj or mortgage defaults. Good or bad credit, online business loans uk are still made to you however it would affect your online business loan uk rates. A request for a free online quote from lenders online can help you compare the business loan rates across all uk competitors and helps make a sound decision which is a first step towards your growth in business.

Secured Business Loans – Source of Funds to Establish Your Own Business

The term business seems so simple. But, do you know how much efforts are required to start and establish a business. A well-established business showcases the hardship, dedication and capital investment made by an entrepreneur. Are you one of them who want to rule the world and are tired of the orders of your boss? If yes, then it’s great; most of us want the same. But, whenever you evaluate the investment needed, it made you back out from the business plan. No need to despair any long; now you can borrow a secured business loan to secure your business dream.

Business loan come in two main forms – secured business loan and unsecured business loan. Now, you would think why I suggested you secured loan despite of other loan alternatives available. There is a strong reason behind it, I am here to suggest you the best option and that’s what I did. A secured business loan requires a borrower to put collateral against the loan borrowed. Collateral, which a borrower needs to keep, can be in the form of a house, car, savings account or any other property owned by the borrower.

A secured business loan is a package of everything perfect. It offers a loan for a longer term, which can be extended up to 30 years in some cases. A borrower can borrow a secured business loan for a larger amount which can range between £25,000 to £10 million depending on the loan term and credit rating.

A borrower can enjoy the benefit of flexible repayment options offered by secured loan. One can choose a fixed rate loan or a flexible rate loan. A fixed rate loan implies that a borrower has to pay fixed monthly installment. People who are sure that they will be able to pay fixed monthly installment each month, can opt for this option. Flexible loans requires a borrower to pay monthly loan as per their convenience. Borrowers can make overpayment, underpayment and can enjoy payment holiday too.

If you want to start a new business, then you need to present a business plan. Your business plan will help in determining your possibility of getting the loan. Thus, a business plan is needed to be planned thoroughly. Don’t keep any secret; disclose every minute detail to the lender. An ideal business plan contains each and every detail of the business – product, identifying competitors existing in the market; your business strategy, your future plans, financial forecasts and what are the risks involved in the business.

Entrepreneurs who have an established business may need to submit few documents such as a copy of business tax returns, balance sheet, profit and loss statement and other financial statements. These statements will work as evidence that the borrower is making profits or losses and whether the profits are large enough to cover the monthly payments or not. You need to make a business profile giving description of the annual sales, length of time in business and ownership whether a business is in the form of proprietorship, partnership or a private limited company.

Traditional lenders such as banks and financial institutions can be approached for borrowing a secured business loan. It won’t be wrong if I state that twenty first century is an era of technology. Every one wants to become computer savvy. An important contribution of the rapid mounting technology is the invention of internet. Internet has broadened the growth scope of the finance market with the entry of online lenders. Online lenders offer fast online loan with ease. A borrower can access online lenders by browsing loan providing websites. Online lenders give the convenience of borrowing loan. Online application form are available at most of the websites, a borrower needs to fill it. Online lenders approach the loan applicants with the most appropriate loan option.

There is one more area lenders focus on; this is credit status of the borrower. Higher the credit score, more is the possibility of getting a secured business loan at better rates, and that too for a longer term. Poor credit score cannot stop you from getting a secured business loan. You just need to have collateral to put as a security to borrow the loan.

Though, there are various benefits attached with a secured business loan. However, as a coin has two sides same is the case with a secured business loan there is risk involved regarding the repossession of the collateral kept as a security if one fails to repay the loan. There is risk involved in every deal, running a business also involves risk but a wise man knows how to manage the situation and accept the challenge. If you want to make a mark for yourself in the business world then you would definitely accept this challenge and will bear the risk to prove your capability and entrepreneur skills.

Credit Worries No Hurdles In Bad Credit Women Business Loans

Women are now integral part of the business world. Therefore a loan has become a must for any business women if she wishes to advance her business interests. But in the process of doing business, women are bound to come under financial constraints and payment defaults may happen as a regular feature. So no one should ignore financial help to business women if she has a bad credit, as a loan only can improve her financial health and in turn can enable her in paying debts. Bad credit women business loans are crafted especially for business women having bad credit. A business woman can make improvements in her credit score as she pays off the loan installments of bad credit women business loans. With the help of the loan amount she can buy a business or pay off various bills related to raw material or equipment purchase or she can clear debts.

Bad credit happens to business women when she regularly defaults on payments. So her credit score on FICO range of 300 to 850 falls below 600 indicating that she may be a risk for the lender in offering a loan. But bad credit of a business woman can be countered effectively. The best way to do so is that the business woman takes a secured bad credit women business loans. for providing the secured loan amount the lender will take any of the business woman’s property like home as collateral. This way she can borrow greater amount at lower interest rate. another advantage is that the business woman going through a bad phase can easily pay back the loan as secured bad credit women business loans are provide for a larger repayment duration of 5 to 30 years. This means her monthly monetary outgo towards installments gets reduce and she saves money for other business purposes.

If smaller amount is what a business woman needs than unsecured bad credit women business loans is the right option. For her there are no risks as none of her property is involved in the loan as collateral. But lender would like to have a good look into the repaying capacity through income and past records of bank statements. The unsecured loan however comes at slightly higher interest rate. The loan amount is kept smaller and repaying duration also is shorter.

But before availing the loan the business women should know that there are special concessions being given by lenders for them. Business women should look around for these concessions so that their businesses can benefit more from them.

Also ensure that you have made an extensive comparison of different bad credit women business loans on offer from as many lenders. The lenders can be located on internet. See which lender has suitable offer for your type of business. Apply online to the lender for fast processing and approval of the loan amount.

Surely business women get maximum benefits on availing bad credit women business loans. The installments of the loan should regularly be cleared for escaping debts. Remember that with each clearing of the installments your credit score improves and that makes the loan availing a lot easier in future.

Now Realize Your Business Dream With a Fabulous Business Loan

The business loan has always been giving its helping hand to the needy people to tide over their financial imbalances. Loan industry has got the momentum in the recent years.

It has well grown throughout the world. There has developed a severe competition in the domain of loan. A large number of companies are doing their best to provide attractive loans to consolidate their business.

With the incarnation of cheap business loan, people can protect themselves from the embarrassment of asking money from informal sources. Because it is very frustrating to get money in present economy. In an era of globalization and industrialization, business has become quite competitive and risky as well. At times, business activities are hampered due to several risky factors, which may take place at any point of time like flood, earthquake, riot and sudden break-out of fire etc. Apart from these factors online business loan is also resorted to expand the existing business or to set up your own small enterprise.

Business loan has a great resemblance to the famous proverb that says `who would climb the ladder must begin at the bottom’. It means every successful entrepreneur has started his journey to big corporate world with small little endeavor. It is understood that almost all the eminent business enterprises of today have sought some kind of business loans.

It is recommended that one should visit online shops to get the better idea about multiple business loan. As it goes without saying that funds are the life blood of every business. Thus, it is essential to be financially viable so as to thrive on in the phases of fluctuation. Online business loan in UK has become very popular. As it does not entail any major complication with regard to documentation and collateral.

At times, people have multiple business plans but due to financial constraints they have to hold back their advancing steps from implementing those plans. In such circumstances, these loan prove to be very instrumental and work as tools to support you to grow further.

Online business loan has become one of the popular ways of drawing finance for business activities. There are a large number of online business loan provider in UK, who are offering such loan with multiple benefits and advantages. You can also opt for bad credit payday loans, which is termed as short-term loan. It is very helpful and handy in the times of financial emergencies. It does not involve a long process. We can get it within a short span of time from online shops at great ease. Bad credit payday loans does not demand any collateral. Generally, one has to fill an online application for his employment details and resident proof to get this loan.

Bad credit payday loans have become one of the ways to find money in the times of sudden financial needs. These loans are usually in small amount for personal purposes such as buying refrigerator, washing machine etc. Thus we have multiple options for coping with our financial fluctuations. Thanks to online business loans, which has proved like a boon for us. Hence, do not wait. Just grab this wonderful opportunity to consolidate your existing enterprise. These business loans provide a sudden fillip to your undertaking in an amazing way.

Find The Best Small Business Loan

A small business loan is the first step as you will require funds to grow your business. Small business loans are available for all kinds of people that have good credit scores or bad credit scores. The most important task to obtaining a loan is preparing a business plan. When applying for loan you will want to have an accurate and current balance sheet which will act well when contacting the lenders. The business plan needs to show the lender that providing you with a loan is a low-risk proposition. So the key is preparation. In other words, the loan is not being granted on the status of your business, but being granted on your personal financial status. If you do not have assets, an unsecured business loan would be right for you.

Getting a loan might be difficult during the first two years. During this time most businesses face challenges involved with not only opening their doors, but hiring, training, meeting the demands of customers, clients, suppliers, and vendors. Businesses with a history demonstrating success in paying their bills on time will have the easiest time obtaining a financing because they’ve proven their ability to meet financial obligations. Business loans for start-ups are one way to keep things afloat but they are by no means that only answer to cash flow problems.

The three steps to finding a small business loan are working with the right bank, making a clean application, and negotiating the best interest rate. We review the three below.

Find the right bank

Business startup capital may be available from a variety of sources, such as banks, private investors, venture capital firms, and finance companies. Banks and other lending institutions cite risk factors as the main reason for turning down loan requests from startup businesses. Banks are more apt to offer loans to qualified customers with whom they already have an account in good standing. Banks are not keen on making very small loans, because fixed overhead costs don’t make them profitable. Banks want to see that you have a well thought out plan for how you are currently or how you intend to make the business profitable and repay the loan on time. Banks, credit unions, and other lending institutions have stated that if they think you are placing them at a potential financial risk they will decline your application for the loan all together. Banks believe that this will make them more consistent lenders, rather than being forced to reign in credit as the economy takes a dive. Large banks and lenders have more rigid rules for smaller businesses and the processes that they employ are more complicated for small business loans.

Applying for the small business loan

Before you apply for financing it is worth checking if you are eligible for a grant. The government has business grants available for certain kinds of smaller businesses. When applying, You will need to share all of your personal and business financial information. It is beneficial to apply with a financial institution that already has information on file and is familiar with your profile and spending habits. If the process to apply for a small business loan is not effective and you have been turned down by many lenders, a last resort will be to contact the Small Business Administration for help.

Find the best rates

Interest rates vary depending upon the credit history of the business owner. Interest rates may be fixed or variable. Variable or fixed rates is something you need to decide upon. Typically you will get lower rates on variable loans, but you usually have a shorter time period of having a fixed rate. With all of the credit tightening going on, smaller companies are affected more than large firms. Because these loans are unsecured without collateral, the interest rates are typically higher than a secured loan. Still try to negotiate rates and payment plans with each credit entity. Also, the interest on a business loan is tax deductible.

When looking for financing be sure to find the right type of financial institution. Your local bank is usually the best place to start because you probably have information with them already. But, maybe your lender could even be a family member. Keep your options open. When applying for a loan make sure you include your business plan so the bank understands how you plan to receive income and pay back their loan. Small business loans are riskier to lend to because the bank is betting on a plan. Don’t feel angry that you might be paying 1%-5% more than normal secured loans, be happy that you are getting a loan.

Secured Business Loans – An Opportunity To Showcase One’s Entrepreneur Skills

Publilius Syrus’s statement, “Money alone sets the entire world in motion” holds true to the world of business. Starting a new business involves huge investments. You may have big plans for the business but they won’t work if you don’t have the money to finance them. There are different sources to finance the business. But the best and cheap alternative available in the finance market is the secured business loan.

Secured business loans require borrowers to put a security against the loan. Borrower’s commercial properties, machines or equipments can work as collateral. Secured business loans can be used to start up a new business or to enlarge the existing one. An entrepreneur can also utilize secured business loan to finance the working capital, which can be used to purchase raw material, paying the labour charges etc.

Borrowers can enjoy various benefits with secured business loans. A borrower gets the freedom to use the property which is kept as a security against the loan, to ensure smooth running of the business. Secured business loans are offered at low interest rate as the loan is secured against the loan.

With a secured business loan, borrowers get the option to pay either a fixed interest rate loan or a flexible interest rate loan. In a fixed rate loan, the interest rate is fixed in the beginning of the loan term and it remains constant throughout the loan period. While, a flexible rate loan implies that the rate of interest varies with fluctuations in the market rate of interest. A borrower can choose the interest rate according to his or her convenience.

Running a business is very risky, filled with uncertainty. You may get huge profits one month and big losses next month. Thus, returns are unpredictable. In such circumstances, flexible repayment option offered by secured business loans can be helpful.

Secured business loan providers can finance small as well as big businesses. You can borrow any amount ranging from £25000 to £10 millions. Few lenders can provide you business loan for a higher amount too. Amount of loan you can borrow depends on the value of the collateral and the lender you select. Repayment term of a secured business loans can be extended up to 30 years.

You need to stay prepared with some documents and business plan to apply for the business loan. A borrower needs to submit following documents with the lender to get a secured business loan:

oBusiness financial statements

oBusiness tax returns

oPersonal financial statements and tax returns

The next thing you need to work on will be the business plan. Your business plan must include information regarding the product you produce or plan to produce. Give details about your present and future marketing strategies, what are other sources of finance you have employed in your business, your management structure and the risk involved in the business. So highlight your financial performance both in the past and in the future. You will be more impressive if you have carefully thought-out and become familiar with your plan. A good business plan can brighten up the possibility of getting a fast and cheap secured business loans.

A borrower needs to concentrate on one more area, that is, his or her credit score. This will be an important aspect on which the lender will be looking at. So try to improve it by paying out old debts and it will be easier for you to grab good rates in the market.

Secured business loans are offered by commercial lender as well as financial institutions. Now, you can apply for a secured business loans online too. Browse through various loan websites and collect loan quotes from them. Compare loan quotes and find the one which you find the best satisfying your needs and expectations.

Starting up a new business or expanding the existing one may require huge investments. Secured business loans can serve this purpose in the most efficient and effective manner by offering low and flexible loan repayment options.

A Bad Credit Score is Now History With a Bad Credit Business Loan

Borrower’s credit score always reflect on their history of repaying. Paying late and failure to pay credit affect your credit score. Credit scores also appear on their repaying history and this may lead to getting in a way of your chance to get another business loan. Amount over dues and bankruptcy would add score on your credit history and this might put off lender on giving you loan. It is true that bad credit business loan may still be availed by those who have bad credit score. It is an advantage on your part because the lender may approve your loan yet, gives you a higher rate of interest and gives you a shorter loan period.

Bad credit business loan may either be a secured and unsecured form of loan. Businesspersons with bad credit score of history find it easier to avail a secured form because this requires collateral like properties to reduce the risk of the lender. Moreover, secured credit business loan is beneficial because this has a lower interest rate. This type of loan can be availed to buy assets that are fixed like building, lands and machinery and sometimes in order to pay everyday operations like buying materials that are raw or pay employees. Usually, unsecured bad business credit loan carries the everyday expenses like employees wage with interest but in low rate.

Bad credit business loan can help you to rebuild your bad history in credit and you can start a new business with no credit history. This kind of loan is also called as a prime sub loan, auto loan, home loan, loan for credit card and your personal loan. Best loans of this type are those with interest rates that are reasonable and very flexible options for repaying. The interest rates are usually higher but with a fine rating in credit. So, it is recommended that you seek for the best loan package after examining the pros and cons of the package deal. It is also a good idea to seek the expert’s advice when selecting the best loan for your business. Finding the best bad credit business loan requires you a lot of time and sometimes it is also frustrating. It is very vital that you do a lot of researching before choosing the best loan because this could really give you the best deal and there are only few banks that are ready to finance business that has a bad credit history.

Bad credit business loans are usually offered in businesspersons that hold current accounts with the bank. Moreover, there are also many lending agencies that could help you in this part. Although these lending agencies usually have a higher loan rate of interest comparing to banks, they often approve loans more often than banks. Online bad credit business loan is one of the most known alternative for banks or any lending agencies.

Before submitting an application for a bad credit business loan, you should consider aiding your history of bad credit. If possible, cancel all your credit cards that are unused. Especially nowadays, it is so impossible for a person to avoid making debts. A person experiencing financial hardship is not different from any other type of business loan. The only good thing with this bad credit business loan is that you can possibly handle your financial obligations without any bad credit score and any businessperson who wants to get a loan to finance his financial obligations even with a bad credit history, can apply for a bad credit business loan.

Who Gives Business Loans?

The most common type of lender is the commercial bank, credit union, savings and loan companies, or investment companies. These lenders offer business loans, however, often times these loans must be secured. This could mean offering up your personal assets as collateral. Although, the business is yours to do with what you want, these loans are very risky to any un-established business. And that’s assuming you qualify. Unsecured loans, usually less than $100,000, are available to business owners based upon his or her personal credit history. Commercial banks may also request that a business have a co-signer or guarantor. This may mean finding a financial partner or checking into the various types of small business loans available through the federal government. Women and minorities have an even wider selection of entities willing to loan them business capital. Organizations such as the Women’s Business Ownership, Women Entrepreneurship in the 21st Century, and several others cater to lending money to women that wish to start-up a business, still others actually guarantee them business loans. Minority business loan programs are also available. Many businesses and government agencies or organizations allocate special funds to lend to minority business owners. The MBDA or Minority Business Development Agency is a federally funded agency that specializes in fostering minority-owned businesses. This agency can help minorities with personalized assistance and financial planning to secure adequate financing for business ventures.

One type of investor that can loan a business money is called an “Angel Investor.” These are professional investors who invest solely in companies. Angel investors are an excellent source of early stage financing. Often times, angel investors will finance a business loan that may appear a risk to commercial banks, or may appear too small to venture capitalists. One downfall to angel investors, they are often highly involved in the business itself. Many business owners do not want someone else running the show, so to speak, and opt to stay away from angel investors for business loans.

Venture Capitalists are in the business of loaning money to businesses that offer strict investment criteria and specialize in very specific high-growth industries. In return for capital, venture capitalists will acquire stock in the company. Venture capitalists generally look for businesses that can show profit within three to five years, and then they move on. However, during those three to five years, venture capitalists play a very active role in shaping the business. This often leads to a lack of control by the business owner.

Both angel investors and venture capitalists can be found by asking your business lawyer or accountant. Or you can conduct your own search via the Internet.

Many individuals turn to family and friends to acquire a business loan. Others may seek financial assistance through business partners or potential customers. No matter whom you ask to lend you the money you need for your business, having a good business plan or blueprint is the key. No investor, large or small, wants to invest in a business that doesn’t have a good foundation, and that always starts with an excellent blueprint.

What to Do If Your Business Loan is Approved

Your business loan is approved. Congratulations! It’s one of the most exciting phone calls you can receive as a business owner. It means that your business has received the financing that you’ve desired for opening your new business or expanding your existing business. Obviously, a celebration is in order! However, before popping open that bottle of champagne and proposing a toast, remember a few key rules before signing on the dotted line and picking up your check.

– Thoroughly review all loan documents, and understand what they mean before you sign and accept the loan when your business loan is approved.

If you don’t understand something on the loan documents when your business loan is approved, ask the lender to explain. If you feel that the explanation was not clear, ask for further explanation, or ask that you receive a copy of the paperwork to take with you so that you can review, read, and research. Consult your attorney or accountant if you have questions.

– Return all required documents to the lender on time when your business loan is approved.

When your business loan is approved, there will be a number of documents and required paperwork that the lender will need before you can close on the loan. Your proposal and ideas were obviously impressive enough to the lender for them to them to tell you that your business loan is approved. Keep up that good impression that the lender has of you by promptly responding to requests for additional documents, information, and credit references. Once your business loan is approved and your money is in your account, you’re your time and review your business’ situation with care.

– Turn to your business plan.

Review the goals and objectives of your business, and review the information that you gave to the lender. The lender was impressed enough to offer you the money for your business – impressed enough that your business loan was approved. Refresh your memory regarding your business. Read your business plan weekly to keep these ideas continuously in your mind so that you can stay focused. Remind yourself daily why your business loan is approved.

– Turn to your loan proposal.

Yes, turn to your loan proposal. It seems odd to consider the loan proposal now that your business loan is approved, and now that the money is in hand. However, recall the reasons why you wrote the loan proposal and why you applied for the loan. The loan proposal served the purpose of demonstrating to the lender that you are a trustworthy, business-minded, energetic, responsible individual with a great idea for your business. The proposal also stated the items that would be purchased with the money. Review the ideas behind obtaining the loan. Keep your self-esteem levels high, and work only to succeed. Purchase only the items listed in the loan proposal, and use the money for nothing else when your business loan is approved. To find business success, stick to your initial goals for the loan, and maintain financial control of the money. Remember, you have not won the lottery. This money needs to be repaid in a timely manner.

Additionally, lender communications are very important, and much appreciated by the lender, when your business loan is approved.

– Maintain close contact with the loan officer when your business loan is approved.

Before you close on the loan, keep in touch with the loan officer to let that person know of your progress in gathering your final information needed to close. After closing, check in periodically with the loan officer to fill him or her in on how things are going with your business. When your business loan is approved, the lender has a vested interest in both your personal and business success, and will appreciate your efforts in keeping communications open by offering current information about your business. Keeping the line of communication open will allow you to possibly take advantage of the lender’s other services, which may be needed by your business down the road.

– Communicate any business problems to the lender immediately.

Lenders don’t like surprises, particularly if it involves bad news. Be honest, and if you’ve run into a snag, inform the lender before anyone else. If you prosper, the bank will prosper. If you fail, the bank fails. By being open and honest if something doesn’t work out after your business loan is approved, the lender may be able to offer solutions or assistance to help you resolve your problems and get back on track. Hiding the problems, or worse yet, ignoring the problems or becoming elusive will only make the lender leery of you and your business, and may jeopardize your credit scores, or worse, your reputation as a business owner.

Seeking A Business Loan – Bank Loan Vs Non-Bank Loan

As the months slowly pass by, there are many things in the business world that continue to change or evolve. But, one constant over the last two years is that loans to small businesses from traditional lenders like banks and similar financing companies are still extremely hard to come by.

Banks and other financial institutions remain tremendously skeptical about what tomorrow will bring. Some banks cite over regulation by the government while others tout that they are just not seeing qualified borrowers.

Regardless of the reasons, small firms continue to struggle in finding business loans from traditional sources to help them grow and succeed.

This has created an enormous funding gap for small or Main Street businesses in this country.

Small businesses are one of the (if not the) strongest economic driver in our nation. Small and Main Street businesses provide jobs, wealth and opportunities in the communities in which they operate – communities which ebb and flow with the strengths and prospects of their local businesses.

However, from the bank side – they also create the greatest risks – risks that banks continue to NOT want to take.

The old saying – the bigger the risk, the greater the reward. And, to achieve that reward, we have to find ways to make the risk work in this new economy. And, some new non-bank lenders are indeed finding ways!

Leave it to the ingenuity of entrepreneurs in this country to come with new stop gap business loan products and services – all designed with the small business or Main Street businesses in mind.

Many new non-bank lenders are stepping up to fill the small business funding gap left wide open by banks. These business loan products are usually easier to qualify for and can be funded much faster than traditional loans as these new financing companies understand the real needs of small businesses and the opportunities they represent.

Some of these new lenders have been changing or modifying traditional business loan products to meet this new small business financing demand. Example:

There has been significant changes and growth in non-profit lenders like Micro Lenders where a new business can qualify for a loan up to $35,000 but now also where an existing business can receive a business loan upwards of $50,000 – all designed and marketed to and specifically for small businesses.

There has also been a sharp increase in peer-to-peer lending or social network lending. While these are still designated as personal loans (most business loans to new businesses are personal loans – guaranteed by the business owner) they offer (and are now being marketed too) small businesses as a quick and usually low cost means of securing a small loan to help them overcome a slow month, meet payroll obligations or to take advantage of new opportunities to grow the business.

There have also been new breeds of business lenders entering the market. Some have taken traditional loan vehicles like accounts receivable factoring or business cash advances and tweaked them to better meet the needs of smaller firms (firms with potential but not yet profitable) while others have created a completely new way to view a business’s financial strength with a focus more on cash flow than profitability or time in business.

To reduce the risk of default; most lenders – bank and non-bank – like to fund on the basis of the conversion of assets. This allows these lenders to focus less on the overall financial condition of the borrower and more on the strength and make up of the asset used as collateral. Thus, when the assets actually convert into cash (like a customer paying its invoice) those funds are used to pay-off or pay down the outstanding loan balance. This has, in the past, allowed businesses and their owners a means to financing that they may not have gotten otherwise due to time in business or years of profitability limitations.

However, these new breed of lenders are taking this view of business financing, adding their own individual twist, and finding success in funding pre-profit, growing small businesses.

For example, there are new non-bank lenders that focus less of profitability and credit but more on the business’s ability to generate cash flow each day. If your business is able to close deals and has a constant supply of cash inflows (regardless if the business is profitable or not) then these new lenders are willing to take a chance on your firm’s ability to grow – with their financial help. This also means that these lenders will match their payments with your business’s daily cash inflows.

The benefit to the lenders is less risk from not having to wait 30 or more days only to find out a business is not able to make a payment. The benefits to the business is being able to use intangible assets (like its ability to find and service customers) to obtain necessary funding to propel the business to that next level.

Further, there are new business financiers that are side-stepping business loans completely and innovating new business financing mechanisms.

For example, playing off the peer-to-peer loan industry, there are companies that are implementing peer-to-peer angel or private investment. Thus, should your business not meet the very stringent and specific criteria of an angel capital or private equity deals, your firm might still be able to obtain the same type and amount of investment dollars from others like you or from those in your community or in your network.

The bottom line here is that the longer the banks hold their vaults shuts against small businesses and continue to ignore the rising demands for small business financing, the opportunities created for new, innovative lenders to step up and fill these gaps are astounding.

Will these new lending vehicles and methodologies work for your business? It really depends on your business and your ability to look outside the box. Will all of these new lenders survive? Probably not. But, whenever there is unfilled demand, pioneering entrepreneurs will emerge hoping to change the world while fulfilling their personal dreams.

What this means to the small businesses struggling today and those that will surface tomorrow is that while banks continue to dig in and avoid internal innovation to meet current small business loan demand; other non-bank lenders are stepping up and trying to succeed with new products and new markets.

Thus, while finding and obtaining a bank loan is probably still the goal of the majority of small businesses (as most don’t know about or understand these new options), new funding vehicles are opening each and every day from non-bank lenders who actually understand the needs of growing businesses and are designing ways to meet their business loan / capital needs.