SOURCE: Horizon Business Funding

Small Business Funding Done Now

October 03, 2013 08:15 ET

Alternative Sources of Business Financing Increasingly Important During Government Shutdown

NEW YORK, NY--(Marketwired - October 03, 2013) - Horizon Business Funding is a leading provider of alternatives to bad credit business loans for small business owners in all industries who have difficulty obtaining business funding from traditional sources.

The Government shutdown that occurred midnight on October first will have an immediate and dramatic effect on small businesses. Many small businesses who were engaged in government contracts with agencies that are deemed "non-essential" to the safety of the Nation will now find their business put on hold, but this is only one of the issues now affecting small business owners across the country. Another problem that will arise is a direct consequence of the shutdown of operations on the part of the U.S. Small Business Administration. The administration backs small business loans taken out by business owners from third party banking institutions, allowing these entrepreneurs a better shot at gaining access to expansion capital. With incoming applications to the SBA put on hold, small business owners seeking to apply for government backing in order to gain access to credit will now be left holding their applications and hoping that the shutdown won't last long. The last government shutdowns occurred in 1995 and '96, frustrating government workers and the public at large as President Bill Clinton and Newt Gingrich shut the government down for 6 and 21 days at a time. The last government shutdowns were estimated to have cost the government millions and accomplished little if anything at all.

Business owners, the driving forces behind job growth and full economic recovery, are set to be punished once again by a stalemate in Washington. While the SBA's operations are put on hold, the alternative financing sector, which has become increasingly important since the recession as a provider of financial solutions for business owners unable to obtain traditional bank loans, will be picking up much of the slack. With small business optimism and hiring plans still fragile, the ability for business owners to be able to obtain the financing that they need in a timely manner is a requirement for continued economic recovery.

About Horizon Business Funding

Horizon Business Funding is a provider of business loan alternatives in the form of merchant cash advances to small business owners, regardless of bad credit or other issues traditional banks use to disqualify funding applicants. We require no personal guarantees of collateral. The fact that we require no collateral from a business loans us a competitive advantage, as we can approve much faster. We fund businesses in any industry provided they have been operating for at least 2-3 months and have a monthly cash flow of $15,000. The efficiency of our underwriting department in vetting merchants with bad credit or in traditionally "high risk" industries including, but not limited to, trucking, liquor stores, construction, commercial fisheries and the automotive industry gives our representatives and the ISOs we work with a competitive advantage through the ability to get small business owners the funding they need when nobody else can. By promoting our core values of professionalism, efficiency and work ethic Horizon Business Funding has experienced exponential growth and is continuing along this trajectory.

Contact Information

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    Andrew Greissman
    Media Liaison