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Access to Capital

Access to Capital

When you're starting or growing a business you will eventually need to think about setting up a line of credit or getting a loan for working capital. The following list includes not only the traditional lenders, but also micro-lenders and alternative lenders. 

So, what is a micro-loan? Small, short-term loans to early-stage and growing small businesses. Amounts range from $500 to $50k, but the average nationwide is $13k. Money can be used for working capital, purchase of machinery and equipment, inventory and leasehold improvements. Loan terms are negotiated on a case-by-case basis.

In the alternative lender category, you'll find businesses who will loan money on your accounts receivable (also called factoring). You'll pay a higher rate, but it may be worth the cost if it means you are able to complete a project on schedule.

If you get into a situation where you need to re-structure your debt, call the SBDC. We may be able to help!

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