My Business Credit Lines

Funding Options for Small Businesses

There are many funding options that small businesses can pursue to help improve their financials.


Business Line of Credit – Many lenders that offer credit lines provide spendable business credit lines, which allows businesses to spend money on anything that requires their business to grow and operate. Many of these do not even require collateral.

Factoring – Established businesses that have receivables can consider factoring facilities. They may be less expensive than accepting credit cards and some lenders may offer more flexibility and competitive pricing.

IRA/401(k) Financing – One of the most common and popular forms of financing for small businesses is using IRAs or 401(k)s. Instead of business owners trying to complete these transactions themselves, it is best that business owners work with expert professionals that can help facilitate these transactions in accordance with IRS regulations.

SBA Loans – Small Business Loans are difficult to obtain and only 50,000 have been approved within the last two years. Nearly 25 to 30% of startups explore these options for additional funds.

Equipment Financing – Instead of using working capital loans for long-term credit debts, such as equipment financing, consider other forms of financing to avoid bad credit. There are many alternative lenders that can help guide small business owners towards better forms of business cash advance that work best for this type of funding.

ACH/MCA Financing – This form of financing is also referred to as Merchant Cash Advances. Many businesses have moved to cash advance models that primarily focus on small business bank statements and do not focus as much on credit card transactions. To help lower the cost of business loans, lenders may specialize in repayment terms rather than short-term monthly repayments. Lack of credit or poor credit is generally acceptable with these types of loans as long as small businesses can prove they have a minimum of $10,000 per month in incoming revenues.


Each type of alternative or non-traditional lender has different requirements for small business loans. As traditional loans become more difficult for small businesses to obtain, more businesses are being driven toward exploring and accepting non-traditional loans, such as those mentioned above.


The bottom line is that in order for today’s economy to grow and recover, the U.S. needs to experience dynamic growth in the small business industry. Many non-traditional lenders will help small businesses explain financing, how much money they can obtain, how long it will take to receive money and how much it will ultimately cost to take out non-traditional loans.

My Business Credit Lines Agencies

My Business Credit Lines has over 500 Business Lenders around the United States that offer different types of business funding. We do all of the searching for you so you can have access to lenders in your area all in one place. Any of the lenders will be able to help get you the credit line you need to get your small business off on the right track to success.

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