You are here

Home 🌿 Marijuana Business News 🌿 Where to Go When the Bank Says No 🌿

Where to Go When the Bank Says No

Submitted by Marijuana News on Thu, 05/07/2015 - 08:00

If you run a small-to-medium-sized enterprise (SME) that’s experiencing growth and struggling to find the capital to fill customers’ orders, you’re not alone. Thousands of business owners find themselves in the same predicament. Banks often have a cursory, one-size-fit-all process for dealing with SMEs because of your risk profile.

According to a 2014 Harvard Business School study, 40% of businesses applying for credit get rejected. Of these companies who fail to win approval, approximately one-third will return to banks with a fresh perspective in presenting their proposal. But what about the businesses that see their bank applications declined and can’t try again?

Here are some options beyond the banks that entrepreneurs can tap into once they have exhausted obvious resources like friends and family.

ACCOUNTS RECEIVABLE FACTORING

Mature companies that generate good revenues but have temporary cash flow constraints are best positioned to access accounts receivable financing, especially if their...

Rate this article: 
Region: 
Canada
United States

This marijuana news is brought to you by 420 Intel. For the latest breaking cannabis industry news, subscribe to the 420 Intel newsletter. If you'd like to promote your product or service in this area after every article, contact us.


URL: 
http://www.profitguide.com/manage-grow/financing/where-to-go-when-the-bank-says-no-81250

420 Intel is Your Source for Marijuana News

420 Intel Canada is your leading news source for the Canadian cannabis industry. Get the latest updates on Canadian cannabis stocks and developments on how Canada continues to be a major player in the worldwide recreational and medical cannabis industry.

420 Intel Canada is the Canadian Industry news outlet that will keep you updated on how these Canadian developments in recreational and medical marijuana will impact the country and the world. Our commitment is to bring you the most important cannabis news stories from across Canada every day of the week.

Marijuana industry news is a constant endeavor with new developments each day. For marijuana news across the True North, 420 Intel Canada promises to bring you quality, Canadian, cannabis industry news.

You can get 420 Intel news delivered directly to your inbox by signing up for our daily marijuana news, ensuring you’re always kept up to date on the ever-changing cannabis industry. To stay even better informed about marijuana legalization news follow us on Twitter, Facebook and LinkedIn.