Small businesses are the lifeblood of an economy not just in the United States but everywhere in the world. In that context, they should ideally have been a favored sector with easy access to cheap credit and other benefits. Unfortunately, that is not the case because most large-scale traditional lenders like banks and financial institutions think and operate differently. Their very orientation is different and they are more focused on financing large corporations and mega projects that offer publicity. This has an impact on their stock price and market capitalization. The small businesses just do not find a place in this environment. Not anymore though; there is Alternative Funding Group to offer quick and easy credit to small businesses.
The Covid pandemic has badly affected small businesses
No other disease epidemic in living memory has caused as much turmoil as the Covid pandemic. One of the main preventive measures, in this case, is social distancing, of which the most extreme manifestation was the government-enforced lockdown. This has hit the fragile small businesses, especially in the brick and mortar retail industry very hard. Alternative small business funding agencies are there to provide easy and hassle-free cash advances to such small businesses.
Entrepreneurs starting a new business
These are face masks, sanitizer solutions, personal protective equipment (PPE) kits, oxygen ventilators and concentrators, high immunity nutraceuticals, and now vaccines. Prior to the Covid pandemic, most people except those in the healthcare industry would never have known about these products. The businesses involved in the process. Big and small would have received business capital loans for these new projects.
Bad credit history won’t affect eligibility
In small business funding is provided by agencies that are focused on offering hassle-free and easy credit to businesses. Your credit history is not always considered as important. What they consider is the viability of your business and whether it will bring in enough profits for you to return the money you have borrowed, with interest and on time. Such criteria may not be sustainable for lending to bigger businesses with larger credit requirements but it is quite effective and viable for lending to smaller businesses. It has worked wonders for many small businesses.
significant role played by small businesses
Considering the significant role played by small businesses in the growth and sustenance of the national economy, it is important to ensure that they operate in a business-friendly environment. One of the most critical requirements for any business, big or small, is the easy availability of hassle-free cash. While it is not a problem for big businesses to get the required cash from big banks and financial institutions. It is not so for small businesses. This is a major gap in the capital market and it is being plugged by alternative funding companies.