The Economy is bad and money is scarce, but there are options for that business owner who need to raise money quickly.
1. Hard Money Loans: Typically the Lender is looking at you collateral and will give you from 25% to 65% of the value of the property or items. Rates start at about 10% to 25%+. If you use hard you have better have a quick exit strategy before the interest eats up all you profit.
2. Stock Loans: This is only available if you have public traded stocks or bonds. They require No Credit Check! No Income Requirement! Fast Closing less than a week! Low interest 3% to 7%. $50k to $500 million plus basically no limit. This is a non recourse loans, so they won't come after you if you default on the loan.
3. Short term business loan: Theses business loans are easy to qualify for because the criteria is lower than the what the banks require. Minimum time in business is normally 1+ years. Credit score around 600. 3-6 months Bank Statement and 3-6 months Merchant statement. Quick approval normally within 48 hrs and can fund with 7-10 business day. Rates are higher than banks 12% to 18% and are short term loans from 6 to 12 month terms. Amounts $5k to $100k.
Currently I'm writing a book about raising funds for you business. If have any other ways to raise funds for a business feel free to add to this discussion. You just might see it in my book. If you like to know more about theses source or more options feel free to contact me. Call Bernard Savage at 615-379-8810 or skype me at bernardsavage