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Micro Loans For Business

Marco Carbajo
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While microcredit loans first originated in the Third World as a way to help launch small businesses thousands of American entrepreneurs are finding it as the alternative solution to traditional lending.
Many of the micro lenders, which are mostly non profits, receive the bulk of its funds from the Small Business Administration.

In order for these micro lenders (intermediaries) to loan money to micro borrowers there are specific funding and training guidelines set by the SBA.

One of the reasons why this funding option has become so attractive to entrepreneurs is because it’s less difficult and time intensive to qualify for this small loan which ranges from $500 to as high as $35k compared to the traditional lending route.

This new age of micro loans for small business offers a variety of special benefits that I’ve broken down for you into the following:

Business Training

The SBA requires that intermediary lenders provide business training and technical support to its borrowers. This educational component that micro borrowers will need to complete before the application is accepted is a step in the right direction.
By adding sound business training and planning more start ups can avoid making costly mistakes resulting in successful loan repayments and building a solid credit history in the process.

Flexible Requirements
Another area that makes these microcredit loans so attractive is the flexible guidelines for loan approvals. While many lenders are unwilling to approve a loan unless you have pristine credit, business history and sufficient collateral micro lenders take other factors into consideration.
This may include personal collateral and a personal guarantee but what truly separates micro lenders from traditional lenders is the personal character component. Micro lenders take a more hands on approach with their borrowers and go so far as to even contact personal references.

Building Credit
Microfinance loans also provide a way for small business owners to build or rebuild personal credit history and raise credit scores. Many applicants have little to no credit history and do not have the collateral that typical businesses use to secure a loan like commercial real estate, accounts receivables or inventory.

As you make payments on your small loan the micro lender reports its payment experience with you to the credit bureaus. This builds positive credit history and increases your level of creditworthiness in the eyes of lenders.

Once a micro loan is paid in full then most micro borrowers are able to qualify for greater amounts of financing through traditional sources if they prefer.

Time

Time is of the essence especially if you are in need of funds for working capital. Waiting for a traditional loan backed by the SBA can take months where microfinance loans can take as little as 14 days to fund.?

Keep in mind that each micro lender has its own lending requirements and it handles its own approvals at a local level. You can find more information on SBA’s Guaranteed Loan Programs and a list of approved micro lenders nearest you at the SBA web site.

Some additional micro lenders you may want to consider reviewing are Accion, Kiva, Prosper, Zopa and Lending Club. Each of these lenders has its own requirements, lending limits and interest rates so take the times to review which one best fits your needs and comfort level.

The recent economic crisis created a huge demand for this new age of finance called micro lending. With the SBA stepping up to the plate and allocating $50 million in funding for its micro loan program it’s no surprise that this financing option is going mainstream.

Whether you’re just beginning your first business venture or need the working capital for an existing business, this small loan may just be the solution you’ve been looking for.
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New One on One Business Credit

We are now offering a special one on one service That helps
to prevent common mistakes that new business owners may
make when trying to build a business credit profile. This also
in intended to help with the learning curve involved with this
new information. Most of our website visitors have been asking
for this service so we have decided to give it a test run. We will
only accept the first ten people who sign up in order for us to
determine what is a suitable work load. This helps prevent us
from having too many clients which would cut down on our ability
to give each individual the attention they need. This service also
comes with full lifetime membership.

Corporate Aging (www.gboogie.net)

How to give your new corporation the appearance of age. This is strictly for informational purposes to illustrate how this would be acheived. This page has been added because it is the most requested piece of information on this website. For a new business is it important for your operations to seem bigger than they may actually be to look more attractive to vendors. One may argue that this is no different from wanting to seem older for the same reasons. In reality there is a huge difference. One process involves spreading your company’s information to the winds, and mimicking the paperwork, and operation structure of a large corp. This is mostly done by inferring. For example, if your business credit file shows liens paid off, multiple banks accounts, mixed in with some secured loans it could be assumed that your company has had some financing experience. Their is no real deceit, maybe a little embellishment. The other process literally involves deceit. It is to say, “even though i started my business yesterday I’m going to take measures and file paperwork testifying to the fact that it is three years old.” Some want this information to get over the “two years in business” restrictions a lot of vendors have. Some want this information to go into the shelf corp business and have “instantly aged corps” for sale. Whatever their reasons or motives we have decided to provide this information on the merits of the information alone. Everything here is fact. Any moral,ethical,or legal issues reside on your side.We still debate amongst ourselves on whether or not to put out this information, Knowing that it will spawn a new breed of scammers. Some of these techniques border on illegal, but in a grey sense of the word because no one has ever been caught doing it. Most people dont go through great links to make their business seem older. Bigger yes, but not so much older. For legal reasons this will be told more like a story. We will chalk this one up the “Fiction” category. The methods in this story do work in real life,but this story is just a story. You will understand the reason for all of the disclaimers. To actually give your company the means to prove it existed several years prior is really quite easy. Of course there are ways to fudge numbers, and dates to suggest the fact, but they do not provide enough concrete evidence. To become a member please click below! MEMBERSHIP

http://www.tradebit.com/filedetail.php/89698582-gboogie-net-membership-login-information

The king of Business Credit

Gboogie.net has always been the leading force of business credit information. With almost 200 videos devoted to the subject. The difference between these so called credit gurus and us is the fact that we actually give you the information. There are no large production values in any of these videos. Just a regular guy, that has a totally different livelyhood, giving business credit advice for free. Our company primarily does business overseas as a “shelf corporation mill”. Many of our clients have questions as it may be their first go at this business credit stuff. Although they speak a different language, most of them understand english pretty well. Because of the enormous amount of offshore shelf corporations we produce each year, A massive amount of email customer support was required. We figured the best alternative to answering upwards of 20,000 emails a day we would just compile the most frequently asked, and make video response. We figured four or five videos would pretty much cover all of the commonly asked questions and drastically reduce the barrage of emails. We decided to use youtube because it was very user friendly, and gave the link to our foriegn partners and clients. Shortly after, for some strange reason the emails increased. More and more questions started to flood in. Many of our offshore partners have IBC’s(international business company)that operate in the us, so we figured maybe it was some of their clients. Not feeling like doing someone else CS work, we did some investigating and learned that these correspondences were coming from the youtube videos. We continued to answer them during our down time by making more videos. Some smart people, who had already had failing blogs or websites pertaining to this subject matter began to incorporate our free information into their own products. Most of the time not truly having a clue on how things work. So we decided to put up a website that broke down all of the information in a step by step format. We then released some information that we felt was kind of sensitive, and sure enough many took advantage of it and just ran for the quick buck. Never intending on paying anything back. This causes vendors to make quick policy changes, and affects the next honest business owner seeking credit. So we decided to keep the sensitive information separate from the general information. This will not keep all of the scammers away, but it will at least cut it down a little by charging $50. If not, all insider information we give away for free will slowly contribute to the demise of business credit. If you have been following any of our information you will notice we never over hype or try to over sell anything. Just by looking at the website, you can clearly see that this is not an attempt at e-coomerce. The naked truth is, we have information to share that we wish we could give away for free but have already seen the monsters that creates. This is why other websites charge so much money for their products. This is why they dont even give you any information until you pay. We are sure you have done your own research and have come to find that everyone is searching for new companies that report(if you can get credit at all with them). Our methods have nothing to do with that. In the members areawe show business owners how manipulate their own business credit reports without having to wait for d&b. In the members area we teach fool proof business credit. How to go around dun and bradstreet. How to use various agencies to age your business instantly. In the members area we teach how to use contracts and promissory notes to build business credit. We teach methods on how to build business creditstarting with no money at all. Imagine that. How does one start a corporation and build business credit without any money? These are the techniques we teach in the members area. We have on going live instructionals with screen sharing in the members area that are recorded just in case you miss the live session. Not to mention we have the best customer support in the business. Dont believe me? send an email to gboogieamerica@yahoo.com and clock the response time. 24 hours a day(we work overseas hours remember). All lectures and seminars are found in the members area. Members get access to free products,updates and seminars for life. Using the techiques we offer definitely leads to the results your are seeking. In these tough economic times vendors and lendors have tightened their belt tremendously. What individuals must understand is that during a credit crunch, lending is pulled back more so in the public sector. Meaning consumers will find it harder to acquire credit. The government as well as banks begin to concentrate the lending in the business sector. Because its the business owners that are laying off the workers. The government will always favor industry because our counrty is built on it, and without it we cannot survive as a nation. Why do you think they rush to save companies that either have the most money or the most employees. The fed must keep businesses going so they can continue to grow,expand,hire more employees, and pay more taxes. What we do here is show you what they like to see and how to get your business looking exactly like it. Well, Thanks for your time. Even you do not become a member, we appreciate you visiting our site. If you have learned anything from our videos, do us a favor. When you visit other business credit blogs or websites, please leave a link to our website http://gboogie.net and we will call it even.