Small business owners today are facing ever accruing costs in the marketplace when it comes to maintaining and updating facilities, increasing product development and staying current with traditional and digital advertisements. Only 14.4 percent of small business loans are being approved in 2012 in comparison to the 46 percent approval rate before the financial crisis (USA Today). Therefore, many small business owners and entrepreneurs may search out alternative credit
lenders if their consumer credit reports
are not strong.
Some business owners have found success with online lenders who offer short terms loans so companies can take care of necessary advancements in business. In addition, some of these companies even offer useful online tools for managing accounts, shipping and receiving, accounting and social networking. So-called "lease back" exchanges exist in which business owners sell their property or equipment and lease it back from the buyer. Other firms offer short term cash advances for those who have urgent needs. Some companies may be able to raise revenue by selling outdated equipment to pawn shops or temporarily pawning non-essential equipment. Many short term lenders are still willing to work with small business owners who need to cover operating costs.