Running a successful small business is no minor feat. Most fail within the first few years. A lack of time, finances and know-how are often contributing factors to failure. The Small Business Administration cites ‘insufficient capital’ as the second leading cause of failure for small businesses, preceded only by ‘lack of experience.’ However, many small businesses are getting a second chance at life with the help of small business lending.
Small business lending is not a one-size-fits-all solution. There are plenty of different types of lending options for business owners, but let’s look at popular choices for those working with direct lenders:
- General Small Bus