SBA Loan Alternatives

When your small business loan application is denied, it can be a discouraging experience. You may feel like you're out of options and that your business may fail. But don't give up yet! There are several different options available to small business owners when it comes to funding. While the Small Business Administration (SBA) is a great resource, here are alternative lenders you can use to get the money if your SBA loan gets denied. Here are 7 small business loan alternatives when your application is denied.

1. Rok Financial

Small business owners active for 3+ months can qualify for top financing options at Rok Financial. Their minimum guideline is that the business makes $5K+ Monthly Gross Sales. Rok's simple 15-second online application will match business owners with offers in minutes. Rok has programs with 6-month to 10-year terms, and some options require no minimum FICO. Rok has a Fintech speed that can get you in and out of Underwriting in just a few hours.

2. National Business Capital

Solve cash flow problems with National Business Capital. It's fast, easy, and simple to get small business loans from $25,000 to $10 Million. National Business Capital offers lower rates and longer terms with no minimum credit score or collateral needed. They help all industries including construction, E-Commerce, Transportation, and Medical. Apply today! I'm sure they can quickly match you with the right loan. National Business Capital has a network of 75+ lenders.

 3.  7 Figures Funding

Start-up Funding with 7 Figures is the best place for entrepreneurs with a business idea. 7 Figures has secured funding for thousands of startup business owners with credit lines, long-term loans, and credit cards. If you need the right funding to ignite your success with no collateral, 7 Figures funding is the right funding partner for you. Their minimum requirement is a 700 FICO with no hard inquiry and low interest rates if approved. They even allow co-signers! 7 Figures Funding is hands down the best choice for new businesses. 

4.   Bank Breezy

If you need a lender that helps all business types, you need Bank Breezy. One of their most unique products is same-day side-gig funding of $500 to $5,000. Bank Breezy also offers the Same Day Business Funding up to $25,000. The minimum requirement is revenue of $3,000+ and a FICO of 550+. Bank Breezy also provides small business funding of $25,000 to $2 Million.

 5.     Uplyft Capital

Helping business owners get the money needed to keep the business growing or start a business is what Uplyft Capital does. They offer Business loans, personal, and lines of credit. Uplyft Capital has an easy signup process and make decisions on the same day.

 6.    Invoice Factoring

When you need faster access to working capital invoice factoring with Dorado Finance may be the solution. Invoice factoring is for commercial business owners frustrated about not getting paid sooner for accounts receivables. Or maybe those who are stressed about not making payroll or other recurring costs due to offering Net 30 payment terms to your clients. Invoice factoring enables truckers to turn accounts receivables into cash fast! 

Dorado Finance specializes in trucking, manufacturing, staffing, small businesses, and construction. With invoice factoring, there is no credit check for the business owner.

Dorado specializes in fast working capital for the transportation industry. The process to apply is seamless and super easy.

Invoice Factoring for TRUCKING

B2B Invoice Factoring - Small business owners can apply on the accounts receivable into cash website.

7.     Employee Retention Credit – The CARES Act Grant

The employee retention credit (ERC) is for small and mid-sized businesses that experienced a full or partial suspension of operations due to government orders. The Employee Retention Credit program was established by the CARES Act, and it is a grant, not a loan. The average small business has received a few thousand dollars per employee retained. Want to learn how much your business qualifies for? Complete the short application with Bottom Line Concepts.

With so many options available, it can be difficult to know which loan is the best for your business. By understanding the different types of loans and what each one offers, you can make an informed decision about which loan is right for you.

 We hope this article has helped you better understand the SBA loan alternatives. Have you decided on a loan yet? Do you have any questions or comments about these options? Let us know in the comments!