| Product Image | Product Name / Primary Rating / Description | Primary Button / Pros |
|---|---|---|
|
|
|
|
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
Small business owners, rejoice! A new and exciting option is now available to those who need some extra cash for their ventures. With these new loan options, Los Angeles entrepreneurs are given the tools they need to succeed and dominate their respective markets. In this article, we will discuss what these new small business loans entail, how they differ from traditional loans, and how they can lead to success for any aspiring entrepreneur.
What Are Small Business Loans?
Small Business Loans are a type of financing that is designed for businesses with fewer employees and less revenue than larger companies. They are generally used for various needs such as inventory, equipment purchasing or leasing, hiring employees, marketing, and other operational expenses. Small business loans have been in existence for a while. However, up until recently, most banks have catered their loan products to established businesses with robust credit scores and well-established collateral. This nature of lending has left many first-time entrepreneurs out in the cold.
Why Are These New Loan Options Important for Small Business Owners?
These new small business loan options have come at the right time for entrepreneurs who have been shut out of traditional lending products. For small business owners with no collateral, weaker personal credit scores, and more challenging financial situations, these new loan options offer a lifeline. Given that entrepreneurship is surging as a result of current economic trends; this infusion of capital could not come at a better time.
What Sets These Loans Apart from Traditional Ones?
Unlike traditional loans, these small business loans require little to no collateral, which helps first-time entrepreneurs who might not have personal assets to leverage against the loan. The loans also consider sales performance in qualifying an application, unlike most traditional lenders that solely rely on credit scores.
Case Study:
Lia had always dreamed of owning her clothing boutique in Los Angeles since she was young. She knew her business idea was solid but had no credit, personal assets nor financial comfort to leverage against a bank loan. However, with non-collateralized Small Business Loans available now, she was able to finance her inventory of clothing items she purchases from L.A.’s fashion district at reasonable rates. Her boutique has since gained popularity through word-of-mouth, and Lia credits the availability of these new loans for helping her get started.
How Do These New Loans Work?
The loans work similarly to traditional loans, with a few key differences. When applying, instead of relying on collateral, the loan is backed up by increased sales receipts (monthly) indicating that the investment will be repaid over time as opposed to relying on the entrepreneur’s assets. Also, for those who are seeking larger amounts; they can choose an option where they pay based on a percentage of monthly credit card transactions. This type of repayment strategy minimizes the burden on entrepreneurs during the typically volatile first few years of their businesses.
How to Apply for a Small Business Loan
Applying for a small business loan is simple if you know where to look. Typically these new loan options require:
– Basic Identification Details: Name, Phone Number, and Email Address
– Annual Revenue Report
– Three Months Sales Receipts
– Six Months Bank Statements
Once the above criteria is met, applicants wait 24-48 hours for approval or denial decisions.
Opinions & Testimonials:
According to Katie Thompson, a small business owner in L.A., “Before these new loan options, I was struggling to find a way to finance my restaurant. Banks were not able to help me because of the lack of personal assets. With the new loan, we have been able to expand our menu and invest in advertising to attract more customers.”
Also, Jacob Roussa, CEO of “Roussa’s Fashion Avenue,” said, “As a small business owner who requires a steady inflow of inventory to satisfy my clients’ fashion needs, these loans have been a godsend for my fashion boutique. I am grateful that access to financial capital is available regardless of one’s financial standing.”
Conclusion
Small business owners in Los Angeles no longer need to worry about being overwhelmed by the difficulties of acquiring appropriate finances for their ventures. Thanks to these new loan options, entrepreneurs can take advantage of better opportunities available to them compared to the limited options of traditional bank lending. With the uplifting infusion of capital while minimizing repayments risks, entrepreneurs can focus more on growing their businesses and dominating the market.
Get it on 
Download on the