Most Businesses Fail Due to Lack of Funds
No small business owners are given clear cut plans on how to develop their businesses into “all that they can be”. There are no road maps, plans or strategies by small business owners on how to become a large enterprising business. So, most small businesses that manage to succeed, learn by doing and if they learn well, they make it past the 3 year mark.
Small business owners start small and either remain small or eventually dry up and fail. The primary reasons albeit many small business resources, like he SBA, and other organizations or books are that none of these organizations build a step by step procedure tailored to ‘the’ specific small business and the owners experience in mind. Not only is the road map missing, so are the mysterious revelations behind obtaining the financing to succeed. You, as a small business owner may have the talent, drive and ambition, only to be stumped into failure by lack of funding.
Easy Loan Qualifications
Big Banks Are Out. Private Lending is In.
If you qualify for funding from a bank, it would may not be enough to even make a dent on your requirement ranging from a small $12,500- $25,000 loan. Just try and ask for a small $250,000 loan from you local bank you have been doing business with for over 10 years and see what they have to say. The answer is from ‘no” to “maybe” if you can provide financials to support this loan. What? How do you get financials to support this loan when you have already told your business banker you are not a multi-million dollar corporation YET and a small business trying to grow into ‘SOMETHING BIG’?