SOURCE: New Business Funders

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June 22, 2016 19:55 ET

New Business Funders Helping Startups Understand Borrowing Options

SCOTTSDALE, AZ--(Marketwired - June 22, 2016) - New Business Funders (http://www.newbusinessfunders.com) is helping startups better understand their funding options by releasing guides daily to help shed some light on what a new business can do to receive funding.

New businesses commonly struggle to get the capital that they need during the present day due to the majority of banks being reluctant to fund them.

"Most conventional banks want at least a six-month business history with bank statements, transaction records and more to even consider you for funding," explained Troy Bohlke, spokesperson for New Business Funders, a company that specializes in helping new businesses secure lines of credit.

The reality is that new businesses are unable to offer these necessary records simply for the fact that they have not been in business for that long. So where can these newer entities turn to when they need funds to assure that they can operate until they break the profitability threshold?

"You do have options with securing convenient business lines of credit by using your personal score instead of your business' credit, which is often nonexistent for startups," Bohlke advises.

Considering a line of credit has numerous benefits, according to Bohlke. For one, it requires a feasible FICO score of 680 or better. Secondly, the interest rates start at a low or zero introductory rate.

For those who have credit blemishes, Bohlke also has a solution: "We can restore your credit using our proven system that can add as much as 50 points in just 30 days. Also, consider jointly applying with your partner to increase approval odds."

Read New Business Funders' newest article online at: http://newbusinessfunders.com/5-things-you-need-to-know-about-loans-for-a-business-startup.

You can learn more about this small business program by visiting: http://www.newbusinessfunders.com. Or by calling toll free at: 1-855-680-FICO ext. 101

About New Business Funders

New Business Funders helps connect startups to the lines of credit they need in a simple and efficient manner. Using their broad network of banks that are eager to loan money to startups, NBF helps get new businesses the credit lines they need without the runaround. Just a 680 FICO score or better gets your business approved for a line of credit from $10k to $250k with low interest and easy repayment options. No tax returns, bank statements, automated payments, business statements or sales receipts required. It really should be this easy to fund your new business.

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