What To Do When the Bank Says No
It can be hard to grow a business when banks want you to have established business credit or solid collateral and there just isn’t enough yet for you to get approved. Luckily, we live in an era where banks are merely one of many options to choose from. Did the bank say no? No problem! Check out these alternative business lending options that might work for you instead.
0% Interest Business Credit Cards
Sounds too good to be true, right? Not necessarily. There are several credit card options that charge 0% interest on the first 6-12 months. If you’ve got a good thing going with your business and you just need something to help you grow while simultaneously building enough credit history to qualify for larger loans in the future, this may be a great option for you to start. Just make sure you have enough revenue coming in to be able to pay it off before your promotional offer is up as the blended rate for multiple cards can range for 10% to 15% depending on your credit.
There are several loan programs the Small Business Administration has that are designed to help jumpstart budding small businesses such as yours that cover a myriad of loan types including long term business loans, short-term business loans, startup business loans and more.
Alternative Business Lending
BitX Funding is your online marketplace for small business loans. From start-up lines of credit, short-term loans, long term loans to merchant cash advances, and business lines of credit, BitX is where lenders compete for your business. Our top-rated lenders focus on real-life business data and cash flow, which means you can qualify for a loan even if your credit score isn’t perfect. We care about small businesses and it’s our mission to secure the right funding when you need it. Applying is Easy, Fast and Free…Get started to see what your business qualifies for!
|Start Up Line of Credit||Short Term Loans||Long Term Loans||Business Lines of Credit|
|BitX Funding start-up financing program connects entrepreneurs and business owners with $25,000 – $150,000+ in unsecured business lines of credit. This program can provide you with funding in as little as 10 days and is typically offered with 0% interest financing for the first 6-18 months.||Designed to help meet short-term needs, such as unexpected events, or to take advantage of a great deal. Typically, most small business owners qualify.||BitX Funding offers true long-term business loans with automatic monthly payments. If you are looking to Fund larger projects that pay back over a longer term with rates as low as 5.49% this option may be right for you?||Business lines of credit allow you to draw funds whenever you need. Funds will be deposited directly into your bank account. Repay via automated weekly debits over six months. Your available balance replenishes as payments clear. Lines of credit can go as high as $100,000 with interest rates averaging around 13%.|
Let Us Help
BitX Funding is the online marketplace for small business owners looking to fund a project.
We specialize in connecting small business owners with lenders who will compete for your business. We believe small business owners drive the economy and we are passionate about helping your company reach its full potential.