Small Business Loans Drop by $15 Billion in First Quarter of 2011

Despite urging from the US government, US banks are still cutting back on their funding of small businesses.  The Small Business Lending Fund (SBLF) was a federal program set up to encourage banks to increase lending to small business, but banks utilized less than half the funds available.  The was set up in September and provided capital to banks at a incredibly low interest rates, some as low as 1 percent.

 

This means trouble for small businesses who are hoping for funding through a traditional loan in the near future.  Lending is still tight with most banks, but smaller banks are more likely to loan than larger banks.  However if you are a business owner in need of additional working capital, there are still options available.  Many businesses unable to get a traditional loan, are seeking alternative funding options.

 

Strategic Nationwide Funding offers a form of alternative financing, called a Merchant Cash Advance.  It is based on your future credit card sales (not your credit), so a Merchant Cash Advance is easy to obtain.  Minimum requirements of at least $4,000 in monthly credit card sales and having been in business for at least a year.    If you are looking to increase your working capital, call Strategic Nationwide Funding today and learn how a Merchant Cash Advance can work for you.  1-866-972-8885 or visit our website at www.snffunding.com