Welcome to ThriveFunding.net. This site and its sister site ThriveFunding.com are dedicated to providing small business funding options to business owners with useful and actionable information regarding obtaining funding which you can use to grow your business. Funding for qualified businesses (including startups) is available and can be approved faster than you ever thought possible. For more details on available business financing click here.
Almost all small businesses require access to financing at some point in their evolution from idea to reality. One of the primary causes of business failure is failure to understand the importance of having positive cash flow. Not having positive cash flow, or failing that not having cash reserves that can be drawn upon as needed severely limits a business owner's options. Negative consequences of having your financial back against the wall range from heightened stress levels to incurring insurmountable debt – often from expensive and unsavory sources.
In light of the above concerns, it's best to plan ahead. Part of planning ahead should include sourcing affordable, reliable and ethical lenders – ahead of time. Gone are the days when a small business owner could establish a personal relationship with his local banker, rather it's all about number crunching. Number crunching that is based on hard and fast computerized rules. Your dreams, talents and abilities can't be input into the bank's lending software. Think square peg into a round hole.
Rather than the approaching the bank first hat in hand to beg for small business funding, akin to (but worse than) a visit to the dentist in many entrepreneur's minds, online lending can be a very appealing alternative. Please note that established successful business entities are in the minority and usually have a much easier path to funding. The reality for the rest of the startups, new businesses and those seeking expansion or bridge funding is far different. The good news is that ‘digital financing' has arrived. So, rather than sitting uncomfortably in your best suit, like a kid waiting outside the Principal's office waiting to see a bank lending officer, you are now just a few clicks away from funding!
Although Bitcoin (and the other Altcoin cryptocurrencies) get all the buzz these days, online loan shopping for small business funding (and commercial real estate deals too) is as significant as the rise of Amazon.com was to consumers. With about 80 percent of small business loan applications getting rejected by banks it's no wonder that alternative commercial financing is coming into its own. Bottomline? Because of the unique ability that online business loan providers to create custom lending solutions, by spreading the risk among a pool of virtual lenders, they can quickly structure financing solutions that bank's can never hope to compete with. Bear in mind that we are not talking about loan sharks or payday loans here, both of which should be avoided like the plague they are.
So what exactly does a business woman or business man require to start the online business loan application process? Just an internet connection and 5 minutes of his or her time! Really. The process starts with a zero impact on your credit rating questionnaire, the purpose of which is to connect you with the appropriate financing options. By answering them accurately (and they are generally very easy to answer), you will automatically be presented with the best options for your unique situation. This is the beginning of assembling the perfect fit financing solution for you and your business. A financing solution that will be custom tailored to your unique solution.
Here's how it usually works, depending on the answers provided you will be guided towards the right funding program. These programs range from no credit check collateralized loans (loans that are secured with either property or accounts receivable) to no collateral required for those with good personal and/or business credit profiles. Funds are often available for startups, expansion, revenue advances, commercial real estate,equipment leasing/equipment purchase, retirement financing, 0% merchant accounts and much more. You might be surprised to learn that in some situations the funds can be used for virtually anything and don't have to be related to your business at all.
To sum up, you just have to answer a few simple questions online and if you're a good fit for their small business funding program an agent will follow up with you. Reputable lenders and their agents will never do any hard selling.
HOT TIP #1 – Be prudent not greedy. Factor in the unexpected when deciding on the amount of funding your business requires. Add a bit of ‘just in case money', just in case.
HOT TIP #2 – Don't be ‘greedy', requesting more money than you would be reasonably expected to need will raise a red flag. Raising concerns about both your seriousness and your ability to repay the loan in a timely manner.
Will you be one of the smart new wave of entrepreneurs that refuse to let the big banks be the sole judge, jury and executioner of their financial hopes and dreams? If your are, more power to you! To paraphrase a popular saying – “Plan for business success and successfully execute your Business Financing Plan”. And make sure part of that plan includes a reliable source of backup small business funding. Here's to your business having the Best Year Ever! (And to you gaining a better understanding of just what small business loans are.)