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SpinDistribute.com Article Directory

The following article was published in our article directory on May 31, 2010.
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Business Financing Reality Checks

Article Category: Finances

Author Name: Stephen Bush

Business owners are not easily finding a bank solution for their routine business finance needs. Banks have been the traditional source of small business loans for several decades, but this role seems to be growing to a close. As a result, it has become essential for borrowers to both evaluate their commercial finance needs and find new sources for commercial financing and working capital loans. A series of brief explanations about several of the most critical commercial lending issues likely to be confronted by small businesses are summarized in this report.

"Banks are not the solution, they are the problem" describes the unfortunate reality that bankers are just not what they used to be for most small business finance situations. It is rare for a week to go by without further negative news about the poor financial health of lending institutions. In one recent report, it was noted that there are now more problem banks (which are banks judged by the Federal Deposit Insurance Corporation as being more likely to fail) then anytime in the past eighteen years. Troubled banks have grown from about 300 in early 2009 to just under 800 in the early part of 2010. As a result, it is likely to become even more difficult for commercial borrowers to get water from a well that is running dry.

"It is necessary to have realistic expectations" is an essential perspective for small business owners to have in the problematic loan climate displayed by most commercial lenders serving small businesses. Gone are the days of buying a business with little or no down payment. Another situation to expect is the previous relative ease of getting working capital being replaced by a less predictable lending climate for any form of working capital that is not secured by tangible assets. A much longer list of underwriting requirements that can realistically make refinancing attempts either difficult or impossible has produced a visible influence on efforts to refinance commercial mortgages.

Some candid advice for small business owners desperately seeking new commercial finance funding is "avoid online applications for business financing". It is not prudent to provide confidential business finance information before it is determined that commercial financing is feasible for a particular financial need, and this suggestion is meant to emphasize the point. Such automated application processes are obviously a convenience for the lender, but this does not translate to a sufficient reason for exposing private business data without knowing more about the small business loan criteria that will be used by the commercial lender receiving the information. An effective substitute for this questionable practice is to have a lengthy and candid individualized discussion with a small business financing expert to determine what the practical commercial loan options are in advance.

A reflection of the realistic possibility that something will go wrong with a current small business financing option is "small business owners should have a Plan B", and to prepare for this business owners should do some advance planning. Contingency planning has always been a worthwhile task for a small business to employ for their management operations. It is strongly recommended that a variation of contingency planning also be adopted to help soften the blow if problems develop with existing business finance services. By engaging in this forward-looking approach to working capital management and small business loans, businesses will frequently uncover financial improvements that they can make immediately.

Only a small part of the total business lending picture likely to be experienced by small business owners is covered by this brief evaluation. In other words, as bleak as this accounting might be, it is only the tip of the iceberg when it comes to commercial financing problems that exist for small businesses today. This discussion is provided as one tool for small business owners to use in their efforts to become more successful in securing reliable working capital financing and commercial loans, and everyone must hope for improvement in this situation. Some of the most important factors currently impacting small business financing were highlighted in this article.

Keywords: business financing,business loan,business finance,small business,finance,business,loans

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