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Affordable financing for every business is essential, but more so for a smaller company. Large corporations appear to have plenty of ways to deal with the cash flow and financing issues however small-sized businesses typically have fewer resources to deal with problems with cash flow and financing. In addition to bailout money, economic development grant larger companies have options that smaller companies don’t typically have. It’s therefore crucial for small-scale entrepreneurs to understand alternatives to traditional financing that are available. Here are some ways I consider to be noteworthy.


Financing through alternatives to Business Loans


Peer-to-peer lending, a quick process that is done online, allows small investors to meet and lend money to the individual as well as small companies for various reasons. The interest rates, which are based upon your score tend to be comparable to bank loans. Another benefit of peer-to-peer lending is that there is no requirement for collateral. The drawback is that the loan can’t exceed $25,000. There are two that I’m aware of and you might consider looking into them. The first one is Lending Club, the other is Prosper Both are available on the internet.


Another option to think about might be ACCION USA. ACCION USA is a private non-profit organization that offers microloans of up to $50,000 for small-scale businesses owners who aren’t able to get conventional bank loan options. ACCION USA targets low-to-moderate-income entrepreneurs to avail of its services.


Another option is to use friends and family. 


A formalized loan with an individual from the family or a friend can give the person who is a family member or friend the security of knowing that they are secure and also helps safeguard both the lending institution and lender. It is extremely beneficial to have documentation that shows the dates for repayment along with interest rates, as well as the repayment schedule to reduce confusion and misconceptions. If this is something you could benefit from, then look into Virgin Money. It’s available on the internet too.


The above loans are ideal for those who just require an amount of money to help you get over the hurdle.


Other Financing Option


A sale/leaseback is a type of financing that a small-sized business owner can sell their equipment to another business and leases the equipment back. The leasing company provides the owner of the small business an amount of money based on what the market is worth of their equipment, with the option of buying the equipment back after the lease. It is a win-win situation for both parties. 


This collaboration agreement lets one company earn a return on its investment with low monthly installments for a flexible or fixed time frame and, on the other to free up cash that is held to fixed assets.


Another alternative to finance is to establish a strategically-based alliance to protect assets that are needed. Let’s say you’ve come up with something that requires an injection-molded plastic component, however you do not have enough money to purchase the costly custom equipment to make the product. You contact the proprietor of the plastic business and offer the owner a portion of each purchase made by the product. The company owner will sign the terms of the agreement. 


This is also an opportunity for both parties. The upfront expense of purchasing equipment and the plastic business wins by generating more revenue streams.


Corporate Alliances are excellent to create synergies. Alliances can boost efficiency and reduce or eliminate costs as well as reserve cash for more. As a small-scale business owner, it’s essential to be aware of ways to your finance and expand your company.

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Melbourne, Australia
(Sat - Thursday)
(10am - 05 pm)
Melbourne, Australia
(Sat - Thursday)
(10am - 05 pm)

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