How Small Business Owners Can Still Get Funding Despite the Economy

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At a time when banks are saying no, no, no to small business owners loan requests, one funding expert is teaching entrepreneurs how to find lenders who will say yes, yes, yes.

Karlene Sinclair-Robinson

"There are people who will lend you money – if you know where to look and how to ask."

At a time when banks are saying no, no, no to small business owners loan requests, one funding expert is teaching entrepreneurs how to find lenders who will say yes, yes, yes.

Karlene Sinclair-Robinson, author of the book The Small Business Owner's Guide to Alternative Funding: What The Small Business Owner MUST Know To Get Through These Financial Times, said "There are people who will lend you money – if you know where to look and how to ask."

Sinclair-Robinson specializes in assisting small business owners’ access funds for startup, expansion or survival through non-traditional means. Her book guides business owners through the process.

"It's not enough to fill out a form and ask for the money," Sinclair-Robinson said. "You need a strategic plan of action that includes, among other things, writing a business plan and checking out your credit score with an eye to improving it, if necessary."

Among the many strategies Sinclair-Robinson explains are:

Microloans
Peer-to-Peer Lending
Merchant Cash Advance
Factoring and Accounts Receivable Financing
Purchase Order Financing
Equipment Lease Financing

In Merchant Cash Advance, for example, business owners can get an advance on the anticipated revenues they will receive from their card processor for purchases made with credit cards. “Here you have a business owner using their past and future expected credit card transactions to access the capital they need.” Sinclair-Robinson said.

Factoring and Accounts Receiving Financing are financing options whereby a Factor or Funder buys the business owner's unpaid invoices at a discount. "Sure, you get less money overall from your outstanding invoices, but with this technique, you receive a cash infusion now, when you need it. This addresses the ‘Time Value of Money’, whereby having the money now can make the difference in whether or not your business survives, and it actually cost you less overall. Remember, money on paper is not worth the same as cash in hand today." Sinclair-Robinson said.    

According to her, there is no single alternate funding method that is right for every business, and no one best solution overall. "It all depends on your situation and specific needs. The information in the book will assist you to make the best choices for you," Sinclair-Robinson said.

Karlene Sinclair-Robinson is the Managing Member of KPR Funding Solutions, LLC based in Northern Virginia. The company provides a wide array of business and financing consulting services to its clients. She has been successful in assisting numerous clients’ access millions of dollars in alternative funding, even with less-than-stellar credit

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Karlene Sinclair-Robinson
KPR Funding Solutions, LLC
703-372-3248
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