Hollywood, Florida-based financial firm reduces red tape for small companies seeking funding
HOLLYWOOD, Fla., Sept. 5, 2013 /PRNewswire/ — With an 80% rejection rate for traditional small business loans, New Idea Business Loans ) offers small businesses a refreshing new approach to funding.
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President/CEO Jeffrey Levine hopes to put $60 million in working capital back on Main Street this year. His goal is to help rebuild the U.S. economy one small business at a time.
"Bankers and government bureaucrats have forgotten that small business owners are the backbone of the American economy," said Levine. "Banks simply don't seem to be interested in loaning small business owners money, and the SBA's requirements are time-consuming and out-of-reach for many businesses."
According to Levine, New Idea Business Loans provides short-term loans of $5,000 to $500,000 to small businesses in all 50 states. "If your business is one year old, grosses $100,000 or more per year, and has a credit score of at least 525, we can likely help you grow."
Levine continued, "Actually, in many cases we can provide small business loans to younger companies and to business owners with lower credit scores."
Levine is no stranger to small business finance. He has owned many companies over the years that provide financial services to merchants, including credit-card and non-cash transaction processing as well as merchant cash advances.
"What we've created at New Idea Business Loans is a better way to provide small business owners the money they need, quickly, and with terms that won't hurt their businesses. We want to see small businesses flourish," said Levine.
"We have made the process of getting a small business loan as quick and painless as possible. Our 60-second online Quick Quote will automatically tell you how much your business may qualify for. Approval takes about 48 hours, and the loan can be funded in seven to ten business days."
"Unlike the government, an angel investor, friend, or family member, we won't tell you how to run your business or what to do with the money you borrow," said Levine. "Business owners almost always know best how to make their businesses grow. Sometimes it's simply a matter of moving, remodeling, or buying inventory. Other times a business owner might use the loan to buy out a business partner or to start a second business. We leave it completely up to them."
The New Idea Business Loans website mentions that a small business owner might use a loan in order to:
- Upgrade equipment
- Buy out a partner
- Buy inventory
- Move or remodel
- Advertise
- Pay bills
- Expand
- Fulfill orders
- Start an additional business
For more information about New Idea Business Loans' non-bank small business loans, visithttp://www.newideabusinessloans.com/working-capital/non-bank-business-loans-609/ and follow New Idea Business Loans on Facebook:https://www.facebook.com/pages/New-Idea-Business-Loans/378011655651196.
About New Idea Business Loans
New Idea Business Loans offers small business loans to companies in all 50 states. New Idea Business Loans believes current business strength is more important than credit scores or financial projections, allowing small business owners quick access to capital with minimal paperwork and no collateral.
Press Contact: David Morgan, Email, (800) 478-6420 ext. 105.