Small Business Owners Turning to Alternative Lenders for Funding


03 March 2010
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Many small businesses had a hard time getting loans from banks after the financial crisis. Although many lenders are beginning to open their doors again, there are still some small business owners who are not getting the funding they need. As a result, those with a career in a start-up company have to come up with creative ways for getting financial backing.

Some small business owners have been turning to credit lenders who have a focus in start-up companies, according The New York Times. Smaller firms may be more open to handing out loans as they too are eager for business, which is why many people who work in start-up companies are turning to small loan firms for aid.

This arrangement is paying off for the lenders as well, who up until recently would not see an interest in their services as many companies would turn to large banks.

"What we are seeing is better deals than we did in the past," Richard Eitelberg, who owns Hartsko Financial Services, told the news provider. "We were viable when banks were lending. Now we are overwhelmed."

President Obama has recently called for $30 billion to be allocated for small business loans, according to CNN Money.ADNFCR-1502-ID-19649384-ADNFCR

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