Online loans and credit cards keep businesses afloat
When banks stop lending, entrepreneurs turn to fast-cash sources to keep their businesses running. How are you financing your business?
Comment
Email
RSS
DiggSince this has come up a few times: LendingClub is still funding loans for new borrowers. They’re funding the loans themselves; registrations from new lenders, and new funding commitments from existing lenders, are on hold – temporarily, according to the company. But borrowers can still sign up and apply for funding.
-Stacy Cowley, CNNMoney
You have continued the run the promotion that the Lending Club is offering loans. They say explicitly on their website that they are not accepting new loan registrations. Why do you continue to point Small Business owners to them? Dig up some better sources.
I started a recycling business 2 years ago and learned about how important our resources are in the United States to other large countries. It’s all about supply and demand; even in the recycling world. My goal is to immediately put cash aside for fuel and repairs for equipment. If I can do that in the first week of every month then I’m good to operate for the rest of the month. All because of the down fall of some large institutions I have watched prices drop as much as 50% to 60%. And sometimes it’s not even worth putting a vehicle on the road to work. But if I do that, then I could lose a longtime customer. I would just hope that there is somebody keeping an eye on the “Big Boys” and making sure that the hard working American gets to keep what they worked so hard for…….
I have taken a fulltime job through a temp agency to keep money coming in. I am blessed in that my car was paid off last year and I have no credit card debt, so my money, which I now watch like a hawk, only goes towards rent, utility bills and my busines, Bull Dog Bag Company (www.Bulldogbagcompany.com), producer of the Bull Dog Bag, a tote for dog owners that allows them to carry things for their dog in one convenient package. Word-of-mouth has been good, which has kept marketing costs very low. I’m thankful to have a small stream of income coming in, so I don’t have to worry about debt.
I am selling blood and rarely used organs, such as my second kidney. Also I collect box tops and when I win a prize, I sell it on eBay.
Cutting back on expenditures and paying cash while avoiding high interest loans is my solution. You also have to know when to cut your losses.
Features-
In a tough economy, more business owners are bartering for the stuff they need. More -
In Oregon, the Recovery Act is paying for a local small business to protect nearby communities from wildfires. More -
Smart entrepreneurs are now doing deals in 140 characters or less on Twitter. More -
As more customers choose - or are forced - to fill prescriptions by mail, independent pharmacies are struggling to survive. More -
A Texas hospitality company considers where to invest and where to cut back to weather the recession. More -
How 7 innovative companies are inspiring workers and boosting the bottom line. More -
42 startups duked it out in the world's most lucrative business plan competition. We trailed one team to the bitter end. More
I’ve had to resort to paying my mortgage payment late in order to continue paying cash for fuel deliveries and payroll since AMEX and Countrywide began lowering my credit limits on my creidt card every time I’d pay them down by the exact amount of the payments. Of course, they never told me of these decisions in advance, only when they got the maney in their hands…. smart guys, otherwise, I’d have paid them the minimum monthly and made the big payoffs to the cards that truly were on my side like my Citi card has been.