Financing for Small Businesses 3rd Quarter 2010

Startups and small businesses have traditionally had difficulty raising capital through outside sources and, for new companies, the chances of getting a bank loan is close to zero. Most banks today won’t even consider lines of credit or loans for companies that have been in business less than 3-5 years. There is some hope considering The Federal Reserve published results of its survey of senior loan officers found large banks eased lending terms from April to July across most types of borrowing.

The problem is even with this, startups haven’t built up the adequate credit history and banks are just not willing to give money to companies with no credit history. Without adequate money coming in, it is difficult for a small business to maintain payroll and pay its bills.

No wonder we keep reading the statistic that 85 percent of business startups fail in the first five years. Some research has indicated the reasons for these failures are a lack of funding and poor planning. These facts combined with today’s economy makes small business financing more important than ever.

Well, there are ways for small businesses to avoid funding issues and find alternatives for obtaining business financing. One method is receivables financing, also known as receivables factoring and invoice factoring.

Let Paragon fund your growing business today!

Apply Securely, call 888-400-5931 ext 1 or email us.

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