SCOTTSDALE, AZ--(Marketwired - July 01, 2016) - New Business Funders (http://www.newbusinessfunders.com) is helping entrepreneurs better understand the options that they have for funding with business lines of credit by comparing the pros and cons to conventional startup loans. They're offering this information freely in a new guide that they've just released.
"Lots of people have great business ideas and a solid plan, but if you don't have funding to feed this brainchild, you won't get very far," explained Troy Bohlke, spokesperson for New Business Funders, a company that specializes in helping new businesses secure lines of credit.
The tragic reality is that over half of all new businesses fail for just one reason: lack of funding. Oftentimes, the business owner will desperately seek funding from conventional banks, only to be turned down time and time again due to lack of an established business history.
"The first two years of a new business operation are mission-critical," Bohlke says. "During this time, you need an injection of funding to assure that you can sustain operations past the boom-and-bust phase."
For new business owners that are trying to learn more about their options with funding, Bohlke advises that they consider a business line of credit instead of applying for a conventional loan.
"A business credit line is not based upon your business history or transactions, but rather upon your FICO score," he advises. "You can even combine scores with your business partner to increase the odds of approval."
Bohlke's company has helped countless new businesses get approved for lucrative, low-interest business credit lines when other banks had turned them down.
To learn more about this small business program, go to:
Find out why a business line of credit can be a feasible option when getting your business off the ground by visiting: http://newbusinessfunders.com/new-business-startup-loan-vs-line-credit.
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.