Are There Any Small Business Loans Near Me?

Looking for a loan funding provider? There are many different local small business loan offerings that are available to small localized businesses. A good place to start on the journey to finding funding is with the search, small business loans near me. This is a good starting point because Google will pick up your computer’s address and include that in their search algorithm.

The latest trend for many cities is building up the small business community. After all, without small businesses, America would not be able to survive. That is why many local organizations and non-profits are looking to help small businesses with funding options. Some of these are loans and others are in the form of grants.

Small business loans near me: Which do I qualify for?

Once you have started your small business loan search, finding local funding can be a challenge. Actually, it is not necessarily finding the options that is the challenge, it is qualifying for the different options that is the tricky part. You may be surprised to learn that most new businesses do not qualify for traditional financing from a bank. This is because of the extremely high lending standards banks have in this day and age. Often times a bank will not consider a company unless they have been in business for at least two years. Compare that to other funding sources that are willing to fund startups in their idealization phase.

What are some other small business financing options?

Other than loans, there are several options available to small business owners. These options include:

1. Grants
   1. Grants are a great option for new businesses that are looking to grow their presence in the community. Many local organizations are looking for companies that are willing to help out in the community. They do not want a company that is willing to come for the funds and leave once their grant has expired.
   2. Another great perk about grants is that most of the time they do not have to get paid back. Consider this free money with a few strings.
2. Friends and Family
   1. Although this can be an uncomfortable question to ask your friends and family members, it can be a great option to keep in your back pocket. Remember, if you don’t pay back your friends and family, you will have to see them at Thanksgiving or the next family wedding.
3. Merchant Cash Advance
   1. A merchant cash advance is a great option if you need the funding fast. The application process is simple and you only need to have been in business for six months to qualify. It is also a great option for seasonal businesses that do not always have consistent revenue all year long.
   2. A few additional points to keep in mind when it comes to a merchant cash advance is that it will not require money down or collateral. This funding provider is also not interested in your future business plan or how you plan to use the cash. Merchant cash providers are advancing you funds so that you can grow your business.
   3. Another perk with a merchant cash advance is that you will not have a fixed monthly amount to payback. This type of funding uses a fixed daily percentage of your credit card sales. This process is automatic so your business does not have to worry about missing a payment.

Are you searching the term, small business loans near me? We can help you get started with an option that is sure to leave you happy!

Contact eBusiness Funding now at 305-985-6593 or complete the contact form on this page now.