It hasn't always been easy for small businesses to get bank money.
The problem? Their inability to satisfy traditional bank underwriting guidelines.
In "The Credit Cleanup Book" I outlined this lengthy criteria, which typically includes: three years of tax returns, financial statements, Articles of Incorporation and tax IDs, a clear ChexSystems record, personal credit reports, and general proof of liquidity... did I mention liquidity?
Businesses live and die by it. Growing up the daughter of small business owners, and for anyone who's owned a small business, we can certainly attest to the daily anxiety of taking in enough cash to pay vendors, overhead and employees -- and hope there's enough left for ourselves and a rainy day.
Can't provide x, y or z
With 23 million small businesses in the U.S., according to sba.gov, there's certainly a market ripe for the taking...