Small Businesses need love... And loans too!

Posted by bcadmin

We hear everyone say that small business is the key to our future… That small business is the strongest indicator that we (our economy) will emerge from this deep, dark recession... That 1 in 2 Americans in the private workforce are employed by or operate a small business. I could go on, but I don’t want to lose you. The point is… Small Business is important to our overall economy! And, available capital is important to small business! That is why when I read articles like, “Small business credit cards flourish as loans disappear – As traditional loans dry up, banks are funneling more of their small business lending through credit cards.” By Catherine Clifford, CNNMoney staff reporter (Link: "Small business credit cards flourish as loans disappear": … I think, WOW… There is truly no better timing for IOU Central. The Small Business Administration (SBA) has significantly reduced the number of loans it has backed over the past few years. According to the Small Business Administration, the SBA has backed less than 45% of the total 7(a) loans this year* compared to the number backed in 2007 (*through 9/30/09). With data like that, it is no wonder that most small businesses are leaning on credit cards to help fund their business. Enter IOU Central… Small businesses need access to capital, and they usually need it fast. IOU Central is positioned between SBA-type bank loans and Merchant Cash Advances (MCA), and that is a GREAT place to be positioned! Funding is much faster than typical bank loans and rates are much lower than typical MCA loans. Although IOU Central can't fund every small business (at least, not yet...), the company has set it sights initially on businesses with daily cash transactions (in-flows). We will expand from there! Accessing capital on IOU Central is easy too… Small Business owners simply log onto, register, and complete an online loan application. The entire process takes minutes, and most loans are funded within 7 business days. Wow! An automated pre-approval in minutes and potential funding within a week… Now that is showing small business LOVE! Let’s revolutionize small business lending, and let’s do it together! IOU Central Source: Small Business Administration

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