Small Business Funding for Startups

Starting your own business is rewarding because you get to be your own boss and you don’t have to abide by rules and regulations other people have set. It’s nice to have your own business but it’s also difficult to start and to properly manage one.

Many business owners look into the traditional bank loans to fund their startup companies. However, not all businesses are qualified to do so. But nowadays, banks aren’t the first option business owners take whenever they need loans.

Why Banks Aren’t the Best Option for Startup Businesses

If you are looking for small business funding for startup companies, then you wouldn’t take traditional bank loans. The reasons why they’re not the best options include:

• Banks release funds too long – it usually takes 3 to 4 months
• They may have the lowest rates for loan interests but their terms aren’t at all flexible
• The application process they have is tedious – too many forms to sign and fill out

By reading all of these things alone, you might already be thinking about not choosing bank loans as your source of funding for your startup business; there are a lot of other options anyway.

Sources of Small Business Financing for Startups

The different business funding sources aren’t just loans – there are actually a lot more. And most of these include help from investors, asking help from friends and family members, and even applying for a different kind of loan.

Some of these sources include applying an SBA (Small Business Administration) loan, lines of credit, equity loans, asking Angel Investors for help, and many more options. So if your loan application for startup funding got rejected, don’t lose hope – there are a lot of other things you can consider!

Lending Companies

In the world of loans and borrowing money, banks fell out of fashion. A lot of other institutions and companies did well, even better than what banks did. This is part of the reasons why many entrepreneurs who are looking for small business funding for their startups consider lenders and other business funding companies as their primary option for funding.

A lot of lending and business funding companies are springing to life, having one goal – to make money by helping out business owners fund their startup companies. The problem with lending companies is that they tend to have higher interest rates than the usual loans you get out of banks; but that’s the only downside it has.

We here at SoFlo Funding are considered to be the best alternative to bank loans. Our company has been deemed as the best and the most dependable company in the industry because of the competitive rates we have – but that’s just the icing on the cupcake.

Our Financing Program for Startup Businesses

We offer a lot of different types of loans to business owners and entrepreneurs; from the regular and traditional bank loan, to a whole new level of creative financing and credit lines, you can definitely count on us!

Most of the small business funding options we have for startups involve a security. A security of any type that can be a collateral. From there, we are able to draft the amount, the terms, as well as the flexibility of the loan.

We Have Easy and Simple Application Processes

Most of our new clients think that our application process is a joke because of how easy it is completed. Within 10 to 15 minutes, clients can fully complete the application process we have. No need to travel to any office – no need to waste your time! It can be done online without you leaving wherever you are!

From there, you’ll have to wait for 24 to 48 hours to receive the results of your application. Should you be approved, it’s just a matter of weeks for you to get the funds you need. We give a timeline of 14 to 21 days but some of our clients receive it in 7 days!

Imagine applying for a bank loan where you’ll receive it more than three (3) months? What option would you choose?