The Need for Bank Loan Alternatives Remains

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It’s no secret that small business owners have been searching for alternative business funding methods, as the chances of getting a bank business loan have become slim to none.  Consequently, various media outlets that cater to small business owners have been offering up information on how to raise capital for business without having to go through the bank.  In fact, yesterday, Forbes.com featured a story titled “How to Raise Cash—Now!” which proposed nine alternatives to traditional bank loans.

Included in this article was none other than the merchant cash advance, a funding method especially useful for merchants who are in search of working capital to grow their businesses or to keep their businesses on their feet.

Forbes writers, Helen Coster and Maureen Ferrell also suggested eight other alternatives for cash-strapped merchants and consumers, which include:

• Factoring
• Consumer Installment Financing
• Purchase Order Financing
• Pre-Settlement Lawsuit Financing
• Unsecured Loans
• Credit Unions
• Peer-to-Peer Lending
• Vendor Financing