Horizon Business Funding Offers Loan Alternatives for Business Owners With Bad Credit
NEW YORK, NY--(Marketwired - August 06, 2013) - By offering options outside of bad credit business loans, Horizon Business Funding is allowing the most underserved population of business owners in the US access to the small business financing they require.
The slow recovery of the United States economy has made itself felt on main street USA. The financial turmoil of the recession is finally starting to stabilize, with many economists predicting a slow recovery in the future. However, in response to the drama of the past few years, banks and credit unions have tightened their requirements for loans, in particular surrounding lending areas traditionally regarded as high risk. This includes the sphere of small business loans, which has many business owners feeling neglected by banks and left with nowhere to find capital but their own pockets, or those of friends. "What Horizon Business Funding was created to do," says Meir Hurwitz, CEO, "was to create financing options for the business owners that need them the most. Say you own a small business, but at some point someone steals your identity. Your credit may be ruined, but your enterprise is still healthy. When it comes time to get a small business loan to improve it, or to help it stay competitive, banks are going to see that bad credit and deny you for the loan. Unfortunately, for many small business owners, that's how the story would end. My company is trying to give these business owners the chance to use our direct capital and build a relationship with us so that they don't have to be crippled by their credit score and can pursue their entrepreneurial goals."
Horizon Business Funding utilizes a relationship based underwriting system to ensure tailor-made financial solutions for business owners in high risk industries and with bad credit scores. Larger financial institutions may not want to reject business owners solely on the basis of bad credit or their industry classification, however due to their larger size many business owner applications are put into broad categories for ease of classification. Horizon Business Funding is able to holistically look as the strength of a business and take that into account as well as the credit of the owner before we make a decision on whether or not to furnish them with business financing. Because of this, the majority of business owners who choose to start a relationship with us will continue to use our funding as a resource going forward.
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 give our representatives and the ISO agents we work with a decisive edge 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.
