Inexpensive Financial Options for a Small Business Word Count: 527 Summary: Every single business will eventually need financing in order to grow. This statement is true not only for big companies but for small ones too. In fact regardless of the size of a business there is always a time when it can not grow by it own means and needs the assistance of a financial institution. Keywords: unsecured small business loan financing, unsecured start up loan, unsecured personal loan financing Article Body: Every single business will eventually need financing in order to grow. This statement is true not only for big companies but for small ones too. In fact regardless of the size of a business there is always a time when it can not grow by it own means and needs the assistance of a financial institution. Lines of Credit The common choice is to stop by a bank and request a line of credit. However, the requirements involved in this kind of financial transactions are not easily achieved and small businesses find it difficult to obtain the finance they require from a bank. Traditional lenders tend to be too conservative and getting approved by them can be really difficult, especially for a starting business. Even if you have already been doing business for many years, if you are a small business owner, you will also find it difficult to get approved by traditional lenders. Other Options: Business Loans But there is no need to give up hope; there are other options in the market where a small business owner can turn to in order to request finance. There are many lenders offering business loans with flexible rates and repayment options. Business loans are easier to get than business lines of credit when your business is just starting. However, you may have to offer some kind of personal collateral in order to get approved or apply yourself as a co-signer. Factoring If your business is already running, there are other options for getting finance that can be a solution to a temporary lack of funds. If payments are coming up too slowly and you are in need of money you can benefit from factoring. There are certain lending institutions willing to acquire your rights to collect payments for an amount of money that can be negotiated. This way you do not need to wait till you collect the payments and you will have the money immediately. Purchase order financing You may also need to make a big purchase but can not afford to pay the supplier. If this is the case you can make use of another financial transaction called purchase order financing. The lending institution will lend you the money needed to make the purchase and will not collect till the products are put for sale. Summing up All this financial transactions have fewer requirements to qualify for and are great options for small business owners that do not meet banks requirements for business lines of credit. As you can see there are many alternatives to traditional loans nowadays and as the market grows, it becomes easier to get finance for your projects. These new options may be slightly more expensive options than a business line of credit but they are the right tool for certain situations to help a business launch or give a boost to a running business. Once you have overcome your cash problem you can focus on getting a business line of credit so you will not have to resort to these sources again. You just need to know what your choices are so you can make a conscious and well informed decision.