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The New Age of Business Lending
The percentage of small business owners being approved for loans or financing is on a steady decline. AMP Advance explains what to do if you are a small business owner and have been declined.
By: AMP Advance
"We are here to help those small business owners who are not able to secure capital from traditional institutionalized banks, are intelligent, hard-working and hands-on with operations, and are unaware that there are still options if recently denied by a bank to secure capital," said Tomonto.
Limited collateral, industry-specific exclusions, extraneous circumstances and non-recurring situations, along with businesses that are too new, cash flow issues and less than sterling credit are all criteria used to deny individuals capital business loans. Some lenders simply don't want to work with certain types of businesses.
The smaller the enterprise, the less likely owners will be able to obtain a loan through conventional financial services and difficulty obtaining a loan increases for women and minorities. In many instances, business owners never even know why their application was denied.
AMP Advance is changing that paradigm with resources for revenue-based funding, equipment acquisition (https://www.ampadvance.com/
The easy, online application can be approved in just minutes, with funding opportunities presented in 24 hours and financing available in 48-72 hours, depending on the type of loan. Individuals can also receive a no-obligation call to discuss their needs. The loan opportunities offer flexible terms, payment discount incentives and no pre-payment penalties. Different financial products come with their own specific interest rates that are affordable and aids in building business credit.
With fewer loans being approved through traditional financial services, business owners are turning to alternative business lending services like AMP Advance. Loan applications can be completed online from the comfort of home for a myriad of potential small business financing opportunities to maintain stability and help businesses grow.
About AMP Advance
AMP Advance is a Miami-based industry leading direct funding source out of Coconut Grove, FL. We help those who are in need of small business financing by providing Web-based options and funding solutions. Our solutions assist small business owners find matching opportunities while assisting small business owners improve their overall financial situations. AMP Advance provides small business loans, business lines of credit, accounts receivables financing, equipment financing, unsecured business loans (https://www.ampadvance.com/