The Search for Non-Biased Info on Bad Credit Business Financing

Today, I got a taste of some of the frustration our clients of trying to research small business cash advancing and bad credit business loans in general.  I was trying to look up some non-biased information (ie not put out by a creditor) so that I could quote it on here.  Although I found a ton of stuff from our competitors about how wonderful a practice this is, I couldn’t find ANYTHING written by an independent source.  There is plenty out there about the pros and cons of PERSONAL payday advancing, but I didn’t see anything for businesses.  This lack of easy-to-access is unfortunate, because everyone should be able to research their financial decisions, and it appears that all the info out there is coming from the brokers.

One competitor said back in May: “It is reported that only 44 percent of all new businesses will survive through their fourth year.  With costs rising… Cash flow has become the most critical component in the survival of any small business.” Now, while I know this is true, it would have been a lot nicer to see a source, and even better to have it come from someone who did not try to convert you into their client at the end of the article. 

One good, non-biased site I found is Financial Web.  The page I’m linking to lists the different financing options for new businesses.  Now we can take on clients who have been in business for as little as 4 months.  So that’s not BRAND new, but its pretty darn new.  On the financial web site, cash flow/cash advance financing is not even listed as an option to compare to!  Everything they list requires a business plan… There is not true bad credit/no credit option on the list.  Now, they do have a section on cash advance/payday loans, but that section is only written for individuals, not for businesses.  The biggest payday loan they show is $1500.  We offer up to $250k.  In short, they just don’t have information.

So, the search for unbiased articles to direct people to continues…

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