3 Places To Search For A Business Loan

As banks continue to make the news about not providing loans to small businesses, more and more entrepreneurs are looking for new places to find capital – capital to help them grow or sustain their companies.

Banks are not and have never been the only place for business loans.  But, banks do offer some of the lowest rates which can help in the affordability of the payments.  Thus, if your business doesn’t qualify for a bank loan – then, make that your goal.  Find other ways to fund your business until that point that you do qualify.

There are three (3) main places to start your business loan search:

1) Google or Similar Search Engines:
The problem here, with most of the major search engines and similar directories, is that the information is not always the most relevant.  Example, your small manufacturing company is seeking a business loan to expand your operations.  You search for “small business loan” and the first 5 pages of the search results relate to business cash advances. 

While business cash advances may be solid business loan options, they are based on a company’s credit card receipts – something that many small manufacturing don’t have. 

Thus, you waste a lot of time wading through those results.

The reason is that these business cash advance companies are very good at their SEO for key words like business loans – thus they rank high but do your business no good unless that is what you are actually looking for.

2) SBA’s Site (sba.gov):
Great site with a lot of information.  However, they focus more on SBA loans and lenders then other relevant types of loans and lenders.  And, most SBA loans still have to go through your bank – so you are right back in the same situation.  However, the SBA’s site does offer some good resources and advice.

3) Business Money Today’s Free Search Function:
Here, business needs only to select (from drop down menus) a few criteria about their business (no personal information required).  Then, they can compare business financing companies that not only have the types of loan programs your business is seeking but these companies actually want to work with you.  And, you can compare them as apples to apples. 

Many of these financial companies provide a certain type of business loan only and thus have programs to meet almost all businesses needs or stage of development (it is their only business after all).

There are no costs to be listed in this search function or any costs to use it – it is free all the way around.

The only requirement (requirement for those wishing to be listed) is that they are actual funders and not some fly-by-night company looking to make a quick score before moving on.

If your business is in need of a business loan but you are just not sure where to start, check out these options.  You just never know how easy it really can be.