Even in today’s improving economy, many small business owners are still not able to find the working capital or other types of credit they need to build and grow their businesses. According to BusinessWeek, big banks approved 16.8% of small business loans in April 2013. While this number is up from 10.6% a year ago, still, more than 80% of small business loan requests are being denied.

“Unfortunately, most large banking institutions use the personal credit of business owners as a factor to determine loan approval, rather than focusing on other business assets as criteria to determine a business’ ability to pay,” said Kawika Burgess, CEO of Alliance Commercial Finance.

According to Burgess, most big banks like to see a solid track record of the businesses they lend money to, which leaves many new businesses falling short.

Fortunately, other alternatives are available for many small businesses, new businesses and business owners with blemished credit. Private lenders and investors have capital to lend and are not bound by the regulations and red tape that small business owners face when applying at big banks. These private lenders can offer viable alternatives to big bank loans, and can often provide capital based on assets that most banks don’t lend on including accounts receivable, invoices, and contracts. There are also unsecured business lines of credit available that do not affect a business owner’s personal credit.

“Small business owners must consider all options when looking for capital to grow, and private lenders, in many cases, will be the solution,” said Burgess. “When big banks say, ‘No’, private lenders often say, ‘Yes’.”

For more information on funding sources, small business owners can visit: http://www.alliancecommercialfinance.com

About Alliance Commercial Finance
Alliance Commercial Finance LLC is a nationally recognized leader in commercial finance. We are leading the way in commercial lending of all types, including Commercial Real Estate Loans, Equipment Leasing, Medical Financing, Accounts Receivable Financing, Factoring, Bridge and Hard Money Loans, SBA Financing, Business Acquisition Financing, and more. We work with small, medium, and large size businesses and have a broad portfolio of financial products to provide the capital our clients need. Composed of a group of certified, highly experienced financial professionals, Alliance Commercial Finance LLC is at the forefront of the commercial finance industry.