by Richard ReichmannJuly 26, 2012
"Banks would never be lending to the businesses that we're providing capital to. However, the business has to have been established for at least one year.
Tampa - One of the greatest barriers in the search for business capital is the labor-intensive underwriting process used by banks. Similar to the mortgage process, getting a business loan from a bank -- if by some miracle you are approved -- takes weeks or more from application submission to closing. For small businesses, the waiting game can put a crimp on operations.
Banks also place emphasis on a business owner's personal credit history when determining whether to approve or deny the loan. One slip up on the personal credit side could cost the business funding from a bank. Nor do banks like to lend to businesses unless they have been established for several years.
Abba Leasing and Finance seeks to remove these barriers to accessing capital by using a quicker, streamlined approach for business loans that emphasizes the financial health of a business in deciding whether the business is creditworthy. It takes into account business credit data, cash flow, payments to vendors and suppliers, public record information such as liens and bankruptcies and other variables, but not a personal credit check against the owner.
Applicants are usually given a response within one day; once approved, funding can come as fast as two days.
News Source: http://www.free-press-release.com/news-getting-a-small-business-loan-when-the-bank-says-no-1343331000.html
Official Website: http://www.AbbaLeasing.com
|Company:||Abba Equipment Leasing|
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