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Delancey Street is a premier small business lender, based out of NYC, that has helped broker 100's of millions in business loans. They are a pro, at making sure you get all of your financing needs satisfied.
- Over $200 million in funding secured
- Can handle low risk credit
- Handles all industries
- Handles high risk and low risk loans
In today’s world, starting a small business can be an exciting and motivating venture filled with potential. However, the excitement is often overshadowed by funding issues as entrepreneurs struggle to secure financing. Fortunately, there is hope for those looking to launch or expand their businesses in Augusta thanks to small business loans.
Understanding the Basics of Small Business Loans
As a newbie entrepreneur, you probably have fundamental questions about small business loans. To put it simply, small business loans offer money either via banks, online lenders like Lendio, or the Small Business Administration (SBA) to pay for critical start-up expenses like equipment or inventory. The loan varies depending on what you’re trying to achieve; additionally, you need to figure out whether the lender is the best fit for your business.
Small Business Loan Types Available to Entrepreneurs
There is a variety of small business loans available. Start-up loans are ideal for people considering launching their businesses but who lack the capital to get started; oftentimes, these come unsecured. Additionally, equipment financing provides funds to purchase essential equipment for startup or expansion purposes. On the other hand, working capital loans give funds for everyday expenses like payroll or rent, while invoice financing and lines of credit help businesses manage seasonal market fluctuations by balancing cashflows.
One outstanding small business lender worth highlighting is Kabbage. Known for its fast and streamlined process, applying for a business loan through Kabbage can take just a few clicks, complete with fast results the same day.
Reasons Why an Entrepreneur Should Opt For a Small Business Loan Instead of Bootstrapping
While savvy entrepreneurs know that bootstrapping is a valuable option when beginning a business, there are several reasons why opting for a small business loan is the better choice. Firstly, bootstrapping demands delay-making, while dealing with a wide range of applications thus increasing the cost, reducing time to ROI. A loan can simplify, so a business owner can proceed with plans without compromise. Furthermore, loans have more significant possibilities that bootstrapping can’t offer, such as adding a quicker expansion for future projects.
Case Study: Small Business Loan Supporting Local Augusta Businesswoman
Consider the story of an Augusta-based businesswoman named Mary, who consulted with Kabbage for funds to launch her dream apparel brand. Awarded a $50,000 small business loan by Kabbage, which comes with no fees whatsoever, Mary achieved her lifelong goal of running a successful business and making her dreams of entrepreneurship a reality. The loan allowed her to finance countless vital expenses – including marketing measures, product development, manufacturing, packing, and shipping—all while saving time and energy in applying for a traditional bank loan.
How A Small Business Loan Can be Instrumental in Facelift for Augusta Businesses
Small businesses make up the backbone of the community, spurring local economic growth provided from both loans from locals or other company owners who invest in startups. This multiplier effect results in the creation of job opportunities boosting Augusta’s economy. Small businesses also offer unique products and services unavailable elsewhere, drawing shoppers to the city and giving people more reasons to stay.
Augusta Small Business Loans Boosting Diversity
Small business loans not only support entrepreneurs looking to get started but also provide much-needed diversity within the small business space. Here is where it becomes necessary in every corner of the world, especially in places like Augusta. With businesses ranging from varied industries, education, finance to health, there needs to be equal representation from all genders and backgrounds.
Conclusion
Without a doubt, small business loans remain ideal financing options for budding entrepreneurs wishing to start new businesses or expand established ones. While they are not one-size-fits-all, there are specific loans tailored to each entrepreneur’s differing needs. Regardless, a smart business owner always does his or her due diligence, choosing lenders after careful evaluation of rates and reviews. Ultimately, the power and hope of unlocking dreams truly lie in securing the right small business loan.
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