Weaker sales aren't helping Small Business be able to repay loans or improve their chances of getting loans. Big banks are concerned about credit-worthiness. They respond by tightening lending requirements. So the problem continues. It's a vicious cycle
Lehi, Utah (PRWEB) October 27, 2009 -
Americans are being denied Small Business loans by the very banks they helped bail out, says UnsecuredBizLoan.com. Big banks were first to take taxpayer's money, but when Small Businesses hit financial trouble, the banks responded by refusing to loan to most of them. There are plenty of Small Business loan options, but because they aren't a big bank, these options are often overlooked.
"There are a business finance lenders that offer: small business lines of credit, SBA loans, small business loans, and business cash advance loans. But because these business finance lenders aren't a giant bank many small business owners don't even consider them," said Daniel Drew, owner of UnsecuredBizLoan.com which specializes in unsecured Small Business loans.
"The business lenders that you see online are mostly smaller organizations that didn't get any of the stimulus money. It is time to let the American Small Business Owner and Entrepreneurs that there are institutions willing to lend. We are more willing to help businesses get financing," said Drew. "The big banks are hypocrites, they ask the federal government to loan them money (i.e. your tax dollars), but when you ask a big bank for a business loan, they refuse too. That is why it is time to consider a smaller lender like Unsecuredbizloan.com."
Since the tightening credit markets last year's panic, things have improved for larger firms but not necessarily for small businesses. A small business cannot tap into corporate bond or commercial paper markets. That leaves most with few ways to take advantage of improving capital markets. In the past businesses turned to regional or community banks for credit lines, but this is not longer the case. That is why they should find the help online.
Help is needed. NFIB's Index of Small Business Optimism is not at its lowest levels so far, but it has yet to recover either. In March the index was at 81.0, the lowest level since 1980. It was at 88.8 in September.
"Weaker sales aren't helping Small Business be able to repay loans or improve their chances of getting loans. Big banks are concerned about credit-worthiness. They respond by tightening lending requirements. So the problem continues. It's a vicious cycle," said Drew.
What is the strategy of Small Businesses right now? "Most small businesses are cost-cutting and offering discounts. It's not sustainable. For most the government's stimulus plan will be too late. A business line of credit is faster and gets businesses cash when they need it, without so much red tape," said Drew.
'Something has to be done to help small businesses get financing quickly. One of the best ways to get it, says Drew, is a Small Business line of credit online.'
UnsecuredBizLoan.com offers Business Lines of Credit Online, Small Business Loans, Unsecured Business Lines of Credit, and SBA Loans. Soon the company will offer Business Cash Advance Loans. Based in Lehi, Utah our unsecured Small Business loans are available for businesses inside the United States.
Most Americans and businesses agree, it's not right for big banks to take tax payer money but not give loans to the life blood of America, Small Businesses. See http://www.UnsecuredBizLoan.com to apply for a Small Business loan online.