Although the “survival rate” for small businesses in America remains promising, unforeseen expenses can have business owners searching for small business loans from funding experts. Recent studies indicate that, in general, two out of every three small businesses are successful past their first year.
Where larger enterprises have a distinct advantage, however, is in situations that require a substantial amount of cash on hand. Even a relatively small insurance settlement for a customer who has an accident in a retail store could raise future premiums past the point of comfort for a new business.
Having customers who trip, fall,
Small business owners are a diverse group. They span every industry and part of the country — no two are the same. That’s why no two small businesses have the exact same financial needs. What’s so different about them?
- More than half are based out of homes.
- A quarter are 15 years older, or more.
- About 63% take out loans for the purposes of improving cash flow.
- Almost 40% take out business loans to maintain inventory.
- A third seek small business loans because of unpredictable business conditions.
They all have different needs, and their different needs mean that they require different financing solutions. Though most only look at standard business loans as an option, other arrangements, like Continue Reading