Beachwood, OH (PRWEB) May 30, 2013
Small business loan seekers are finding out that banks are simply skimming the cream in today’s business lending market and they need to use new more productive ways to find interested lenders. Big businesses are thriving in the current financial platform with banks offering a near record number of financial products along with very cheap rates. The BusinessFinanceApp.com portal allowed over 100 business owners in the second quarter of 2013 to even the playing field by only dealing with lenders that fit specific credit criteria of small business units.
There are several reasons why good borrowers with plenty of collateral, cash flow and net worth have a hard time securing traditional bank financing. "The size of the loan and the size of the bank are the primary reasons that seasoned smaller businesses fail to secure these lower cost bank loans," says, Jeff Bross, President, BusinessFinanceApp.com. "Business owners are finding out that loans under $10,000,000.00 are typically too large for smaller banks and not large enough for the big banks. Smaller banks simply do not have the resources to manage a complex business credit when many of these loans are secured by accounts receivables, inventory, equipment, and real estate. Monitoring this type of collateral requires field visits and more work hours than most small banks can handle. That is why we have made it a priority to qualify hundreds of lenders that are willing to lend to these smaller companies at competitive interest rates."
Matching the best qualified business lenders with business loan seekers is the key advantage to using one of the business finance portals that exist today. Every small business lender has a sweet spot in which they are comfortable and top technology and years of business finance experience allows a good lender database to match unique business lenders with each loan seeking companies. Many business owners find themselves searching for over a year for a loan and after using a business loan portal they received multiple loan offers within a few days.
BusinessFinanceApp.com is a leading online business finance portal providing business loan quotes and free business finance information for small and medium businesses. They provide financing solutions to all business industries and forms of collateral, including accounts receivables, inventory, equipment, real estate, stocks, and unsecured options. Loan sizes range from $5 thousand to $100 million from thousands of qualified business finance companies and banks. The BusinessFinanceApp.com portal sources and finds capital for hundreds of businesses each month.