If you have finally opened your dream business and are in the beginning stages of running it, you are a startup. This stage is something to be proud of, an achievement that only other business owners have felt. However, running a startup can be quite daunting and thus you will need a robust support system to be successful. Unfortunately, that can be hard to find.
There are many road bumps along the way, and as a startup, you may be unable to get approved for traditional loans. Why do startups get denied so often? If your business does not have assets, established credit, or has not been operating long enough, banks and lenders may reject our financial aid request.
Often, a team of founders will be financing a startup out-of-pocket, but most times that isn’t enough. Should you be looking into alternative financing as a startup business owner? If you have been in operation for 6 months or more and feel like you are out of options and need quick funds, it’s time to start looking into alternative financing.
Why Should Your Startup Choose Alternative Financing?
As a new business owner, you are just beginning to understand the struggle to get the help you need. Having a support system with the funds you need in the beginning is crucial to start growing more.
Alternative financing can help you achieve the following:
- Create a line of credit.
- Bring in new inventory.
- Buy new equipment.
- Support getting your new product on the market.
Other traditional loans will have precise requirements that your startup may not meet. On top of that, they may also not let you use the money for the things you need. It will be dependent on the term conditions and agreements. Alternative financing can be a lot less fussy.
How Much Could Your Startup Business Get?
If you require small funds of $5,000 for new equipment or expansion, you may get that money in under 24 hours. However, you may also qualify for larger funds, up to $250,000. No matter what size is needed, ByzFunder can help provide your business with quick funds. We know a startup business owner has a lot to do, so we make this process easier.
Our team focuses on creating flexible options that suit every business. We provide services in all 50 states, unlike other alternative solutions. Our team caters to you 24/7 to ensure you get the funds you need and help you solve other problems as they arise.
Why Choose ByzFunder?
When you start your business, you are determined to grow it. Gaining capital can be the determining factor in businesses growth. That is why finding the funds you need quickly can be so important.
Banks may not look at a startup the same way our company looks at startups. We know you have a valid business and need a slight push in the right direction. It’s time to reach out and take the next step with us.