Whatever It Takes – Obtaining Small Business Loans

by

Allan Michael Taylor

This report is meant to be a short survival guide for those business owners who are interested in obtaining small business loans. The need for adopting guerrilla loan methods has been made worse by the diminished performance of commercial banks in offering worthwhile financial programs for businesses. While the actions suggested herein may normally be considered only when there are no other options available, they actually should probably be considered by most commercial borrowers early on in the search for commercial financing since banks are increasingly unable to offer a normal level of business funding.

Business Consulting as a First Line of Defense Simply put, the present commercial lending climate is not suited for newcomers who will have to cope with difficult finance programs targeted to small businesses as well as banks that are currently functioning irregularly. Employing an expert who can serve as a business consultant with an expertise in commercial finance should be thought of as an option for those business owners looking to increase their knowledge base substantially. A business consultant experienced in the ways of overcoming small business loan problems is a pragmatic solution to a situation that most commercial borrowers would admittedly prefer did not exist in the first place. Although you may pay a fee for a consultant’s specialized help, that cost will usually be reasonable compared to potential financial losses you might otherwise incur. Determining Your Bank’s Usefulness The most practical gauge for defining whether a bank is good from a small business owner perspective will often be guided by whether the needed commercial financing can be provided or not. Even though banks worldwide have been proclaiming that they are functioning financially at a normal level, there actually are various reports that tell a different story. A consultant with experience in business finance will know in advance which lenders are actively making commercial mortgage loans and working capital loans. If a particular bank is in fact not providing commercial loans as usual, it certainly might be because they do not have sufficient resources to do so. While this bank might not feel they deserve the bad bank label, our perspective is that results count. However small in number, good banks are legitimized by commercial borrowers when they practice healthy lending habits. Business owners should use the services of professionals to determine which banks are in good, secure standing. Get Ready to Fire Your Bank and Your Banker For owners of small businesses, the concept of firing their banker is probably still in the dark. It may feel comforting to assume the bank actually cares how one’s business is doing. Even when there is a close relationship with a commercial banker, in the current banking climate a guerrilla business loan perspective may be appropriate for small business owners who must look out for their best interests. One of the most predictive signs that a commercial borrower might need to fire their banker is an escalating number of times when their commercial banker is unable to achieve the results which were originally offered or discussed. Business Cash Advance Programs for Working Capital In order for small businesses to be successful in an unstable economy, guerrilla loan tactics which may have been overlooked due to their complexity or expense should be investigated. A merchant cash advance program (also referred to as credit card receivables factoring) is a key example of a commercial financing strategy which has frequently been a Plan B for many merchants but often not utilized in their final choice for acquiring more working capital. With a sudden reduction in business lines of credit and an increased requirement for collateral by many commercial lenders, the use of credit card processing to obtain working capital financing now has more practical appeal for the typical small business owner who needs more cash for their daily operations. More Guerrilla Tactics for the Small Business Survival Guide The purpose of this abbreviated discussion was to emphasize the need for small business owners employing a variety of methods to ensure that they can be successful in a challenging environment. In addition to the guerrilla financing tactics described above, there are several other important small business loan options which should be considered by commercial borrowers before finalizing their commercial loans, SBA financing or commercial mortgages.

Stephen Bush and AEX Commercial Financing Group provide

commercial financing

help and

business loans

for business owners. Steve specializes in commercial mortgages and

business cash advances

.

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