RevenueLoan Blog

November 4, 2010

$970M in loans… if the bank decides to help you out

Filed under: news — Christian @ 3:32 pm

Last month the Los Angeles Times ran an article about $970M in small business loans that Congress has finally freed up. The article says that California should get about 10% of those loans to spread over 2,000 loan applications. Do the math on that and you see it comes out to about $50k per loan.

And that is AFTER going through the process of getting the loan from a bank and having to jump through all their collateral hurdles. And fees.

Is that really going to help much?

Here is an invite to all those small businesses who have a good business, good customer base, and need an infusion of capital to bump them up into the next level of business: Fill out the Revenue Loan interview form. You could have between $100k and $500k by Christmas, without having to put mom and dad’s house up for collateral, without diluting the ownership of your business, and without having onerous fixed-size monthly payments due immediately.

If there is a better option out there, I don’t know what it is.

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