Loan markets are changing every second. This is because the demands of businesses are changing. Financial needs change with time, hence it is strongly advisable to do an annual debt review. This will prepare you and your business for every tough financial situation.

Capital doesn’t grow on trees. A debt review will help you in analyzing how much you need it and where you will use it. But before you plan to go for any funding option, you need to know the specifics.

What you will do with it and how will it benefit you
Every small business owner needs to understand what the capital from small business loan will cost him and how it will benefit him. Approval rate of loans with big and small banks remain at a low percentage, but with private merchant companies the approval rate is around 90%. But where to go and what to do incase bank rejects and you are in dire need of cash for business?

SBA-Guaranteed Loan
If banks reject you, your story does not end here, consider Small Business Administration (SBA) guaranteed loan programs. With SBA, your loan application is never rejected, but on the other hand the amount of interest is more than the traditional loan.
But if you still don’t qualify for SBA loan or any other traditional loan, then there are other options available, these include

Merchant Companies
Many small business owners are switching their options from traditional lenders to private merchants due to 90% approval rate, lack of paperwork and fast access to money. Cash is transferred to you within 5 days time.

If you have merchant accounts with any credit cards company, access to loan will be easily possible against the future credit card purchases made by the customers. Whether it is for restaurant business, expanding or sustaining a business, merchant companies have solution for you in form of cash.

Equity Financing
If loan providing companies do not suit you, then you should consider going for equity financing, in which investors receive ownership (equity) in the business. These investors may include friends, family, rich people or even groups of people who chip in to invest in that business. Along with money, they help with their expertise as well.

Crowd funding can also be an option. But this option suits product oriented companies only. It enables small business owners to request for money via website, which in turn is strongly monitored.

If you are small business owner and have a business which is at least 5 years old, then start thinking of expanding. Money should not be a hurdle, because there are many merchant companies ready to provide you with the credit you need.