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Looking for Abundance in Business Loans

Updated on August 25, 2015

Words come and go into popular usage and cornucopia is one of them. You still see a picture of the horn of plenty filled with a fall harvest at Thanksgiving. But did you know the word is used to describe an abundance of something? That’s precisely why you need to think in terms of a cornucopia of business loans.

Turn on the television or read the business section of the newspaper and you won’t see the words credit and loans together with banks in the same sentence. Yet the reporters are not telling the entire truth by constantly talking about the lack of credit because they don’t clarify their statements. It may be difficult to get a loan at your bank down the street, but that’s just one bank out of thousands in the U.S. There is a sea of banks from coast to coast, in every town and city and even across the oceans.

Of course, you can also ask angel investors too...if you know how to find them. You seldom hear reporters talk about private money as an excellent source of startup financing because it does not go through the normal banking system since it’s private money.

Lending Goes Private

We can all agree that the last recession has forced changes in the financial system which means the business funding landscape has changed too. Credit was once so easy to get and now it seems as if credit is almost a dirty word at the big banks. But all that means is you have to turn to other funding sources that haven’t dried up, and there are plenty of them.

The way to find business funding today is learning where to find the non-traditional sources of money. For example, the NFIB (National Federation of Independent Business) recently said that small banks are lending, and in many cases they are able to do so because they endured the recession better than the big banks.

The small banks are interested in helping entrepreneurs build new businesses that help the economy and thus bring the banks more business. There are others types of business loans available too like the private investors willing to loan their own money to startups and established businesses alike. The first step is developing a thorough and carefully thought out business plan.

Finding funding is an art form as much as a business activity in that you have to know where the money is available without regard for location. A loan is simply an agreement to make designated repayments to the lender within a defined timeline and with interest. Private lenders are willing to lend venture capital that businesses need to bring the next great idea to the marketplace or to expand.

Of course, there are also people who are willing to become equity partners and accept part ownership or stock shares in exchange. These people believe they can make a much better return on their money investing in a company just like yours.

Show Me the Money!

In fact, a professional can help you find money from several sources including the SBA 7(a) Loan program called the Loan Queue on their site. This program is specifically designed to help businesses of all sizes, and the government has provided the money to the banks. Of course, it’s called a Queue because you have to get on a loan list which is why you should get professional assistance preparing a targeted application to minimize processing delays.

The SBA offers a microloan program too for smaller businesses. This program has a loan limit of $50,000, but that is more than enough for thousands of businesses who just need a small capital injection expansion.

You can also take your business plan to angel investors or equity partners who are always looking for entrepreneurs and are even willing to provide startup funding.

By now you should understand that money is available for business loans and venture capital if you know where to go. You have to find where the cornucopia is hiding now and not simply approach the traditional funding sources. Investors come in many different forms and are located in many different areas, and all you have to do is find them. .Created by Mark Favre, it offers expertise and assistance with developing and funding your concept, including a private forum for queries and discussions. If you need to access a vast network of business people, entrepreneurs, partners and service providers to help you start, finance and run your business, check it out

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    • what_say_you profile image

      what_say_you 6 years ago from Louisiana

      Thank you!!!!! This article has given me new hope to re-consider starting a new business.