It's no secret that Small Business Owners have a difficult time acquiring business funding to capitalize their start-up businesses. In fact, a great number of businesses fail each year that might otherwise have been roaring successes had they had access to funding for their business ideas. Unfortunately, the U.S. banking community does not commonly provide small businesses, particularly start-ups with capital to start a business. Even Small Business Association loans require the entrepreneur to collateralize their other assets such as their home and other businesses. Essentially, the entrepreneur has to put up collateral for everything he or she has worked so hard to build.
In fact, most often, if a small business is fortunate enough to get a loan from a bank or an Small Business Association loan it is because the business owner has demonstrated years of performance in sales, tax returns, comprehensive business plans and a longevity of consistency in business bank balances.
According to Troy Bohlke, Founder of New Business Funders, "Our Funding platform is here to change all of that. We want to provide the small business start-ups with the capital they need to make their dreams come true by matching their needs to find the capital right for them. We provide start-up businesses access to capital without the common roadblocks. We do not require collateral, nor do we require bank statements or tax returns. In fact, our program is a 'true blue' start-up funding program because we realize it takes money to make money. How is anyone going to make money if you can't get ahold of it in the first place?"
According to the Small Business Association in 2015, over 50% of small businesses fail in the first five years. The number two reason for this catastrophic failure is lack of capital. This reason for failure is topped only by lack of experience.
"It's a tragedy when good ideas never get off the ground because they simply didn't have the start-up capital to launch," Bohlke continued by adding that he realizes management and experience have a lot to do with success in business but he stands firm in the belief that without start-up capital a small business has a huge disadvantage because the business has no money to market and sell their products and services.
The New Business Funders Program differs from other lenders in that the program does not require collateral, cash flow, proof of income, or even a business plan. In fact, the program charges ZERO percent interest for the first 6-12 months to give the business owner a good running start. The New Business Funders Platform simply requires a 680 FICO score or better to get involved.
New Business Funders COO and Partner, Holly Crabtree states, "We help the entrepreneur access capital through our platforms of dozens of lenders and affiliate partners. The startup capital comes in the form of business credit lines and the lines range in size. We oftentimes provide several credit lines in order to obtain $20,000 on up to $250,000 depending on the business owner's FICO score and credit ratio." She continues, "As soon as we get a FICO report, we can get a funding quote in as quick as 24 hours. If we can get an approval, we generally are able to get our clients funding in 15-21 business days from the date of approval. If the business owner needs help getting their FICO score up or pay down some cards it could take a bit longer. We consider ourselves a resource center because we educate our customers on the funding and credit process and save a tremendous amount of time getting our clients to their goals."