Small businesses are one of the main driving forces behind the health of the U.S. economy, and the owners of these companies often need to rely on financing to operate or expand and cover overhead costs.
Over 40 percent of small businesses that applied for credit in the past year from a bank were denied
Crossroads Financial provides two different types of financing for small businesses that were told “No” by a bank – inventory and purchase order financing.
Inventory financing allows a small business to a leverage their current inventory as collateral for up to 75 percent of the cost. Meanwhile, purchase order financing allows a business to secure up to 100 percent of the funds needed to fill an order.
With that said, small businesses who are turned down by another financial institution for a loan or line of credit should consider checking out Crossroads Financial for their financing needs.