Nationwide (PRWEB) December 20, 2013
Until the end of the national economic downturn, there was little need for bad credit franchise loans. There are now countless companies needing to find poor credit business loans and the only source these entities are finding are in the alternative bank business lending industry, which are making low cost, easy qualification capital funding available in record amounts.
Traditional lenders have always regarded small business lending a risk, but now, that risk assessment is much greater because of the millions of dollars in defaulted small business loans as a result of the circumstances brought on by the Great Recession.
“From the bank's perspective, business loans are extremely risky to underwrite, especially during sluggish economic times. During 2004, small business loans defaulted at a rate of 2.4 percent. This went up to 11.9 percent during the height of the recession in 2009, according to CNN Money. In some areas of the country, small business loan default rates were close to 30 percent. Businesses should up as much collateral as possible, such as stock and real estate and have a plan that shows the lender why and how the company will make a profit. For a small business, owner's personal credit and experience plays a much more vital role than its business plan," the Houston Chronicle reports.
Impeccable credit files, both personal and company, along with substantial assets and collateral commitment, are just some of the stricter lending qualifications put in place by traditional banks as the federal government continues to pass new regulations on the banking industry. In addition, large banks require applicants to submit a lot of documentation in order to be considered eligible for a small business loan. These include years of personal and business tax returns, certified financial statements, profit and loss statements, as well as financial projections to be carefully reviewed by the lender.
“Business Cash Advance Guru makes obtaining financing approval as fast and as simple as completing a credit card application. The goal of providing access to working capital quickly and easily to small businesses across the country is realized through the alternative lender's release of its proprietary commercial funding system.”
Retailers and other business owners can apply online, and receive approval in as little as 24 hours, with funding being made available in a week. Funds can be used for any purpose; rates are competitive, and payment installments are based on a percentage.
Business Cash Advance Guru.com expanded nationwide services are now available in the following geographical areas:
Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, Washington DC, West Virginia, Wisconsin, and Wyoming.
http://www.BusinessCashAdvanceGuru.com is a division authorized by TieTechnology, LLC. TieTechnology, LLC, specializes in service based solutions for businesses. Services provided by TieTechnology are merchant credit card processing, business service telecommunications, and web based visibility marketing. The advantages of doing business with TieTechnology are, their commitment to their customer service excellence and the offering of one stop solutions to all business to business service product needs for the customers’ convenience. To learn more about their wide assortment of business services, please visit http://www.tietechnology.com.