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Pros & Cons of Bridge Loans for Small Businesses

Bridge Loans for Small Businesses in a conference room

At a certain point, you might need to start spending more money on your business in order to make money in your business. But acquiring the capital for your growth plans can be difficult. With daily operating costs and other expenses, you need to find a new source of income or financing.

Borrowing money is nothing new in the world of business. Many do this to start an entrepreneurial career, while others do so to fund their expansion. No matter why you decide to take out a loan, you have to choose it carefully.

Bridging the Gap between Financing & Business Growth

Many financing solutions have become available to business owners recently. One of them is the bridge loan. But what is a bridge loan?

A bridge loan is a short-term loan that provides quick funding while you look for a more permanent solution. Business owners use it to handle an existing obligation and reduce their obstacles in the long run. It’s becoming common among small businesses, but before you take out a bridge loan, it’s essential to study its benefits and terms.

Here are the advantages and disadvantages of a bridge loan.

Benefits of a Bridge Loan:

Bridge Loans are a fast way to get funding for your immediate needs.

The whole process—application, approval, and funding—is faster than most other types of loans because our bridge loans have fewer requirements. This gives you the capital to purchase new or additional equipment, pay for inventory, or meet your payroll needs without affecting your bottom line.

Bridge Loans give you full control over your business.

For most loans, you have to sign over a portion of your business as collateral. But a bridge loan from Probably may only last a year, meaning you can quickly pay it back without having to relinquish control over your business.

Bridge Loans give you a safety net for other expenses.

As a small business, you are often at risk of running out of cash. Our bridge loans give you access to money that can be used to cover pertinent expenses. It’s a practical and valuable solution for businesses that have long payment cycles.

Potential Cons of a Bridge Loan:

It might have larger payments.

Since a bridge loan runs for a shorter period, you might be charged more during monthly repayments if you don’t choose a good company to work with, and understand their terms. Late payments will be met with penalties and higher interest rates as well. Make sure you work with someone trusted and transparent, like Probably, to ensure you get the best deal!

It could be risky for your short-term bottom line.

Business owners who take out a bridge loan while waiting on an extended payment cycle are at risk of failing to see that long-term money at the end. And when payments fall through, you will have to make your loan payments out of pocket. This is the risk with any loan, but is still worth mentioning. As always, only borrow what you expect to be able to pay back.

Work with Probably for a Trusted, Transparent Bridge Loan

Probably is dedicated to helping small business owners transform their start-ups into strong and sustainable organizations. Our bridge loans are customized to each client, giving them what they need without causing disruptions in their operations and cash flow.

If you need additional capital for your business, consider applying for a bridge loan from Probably today!
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Small Business Loan Success Stories During a Pandemic

man applying for a Small Business Loan on a laptop

The COVID-19 pandemic has affected schools, healthcare, restaurants, small businesses, and our economy as a whole. But not every company is suffering, or in a slump, in fact, there are many business industries and ideas that have taken off or seen an uptick in business in 2020!

So, from our Probably team to you, here is some much needed good news in our latest article on small business loan success stories during a pandemic!

Apply Now!

Small Business Loans Can Help Your Business Pivot & Succeed

Restaurants Have Gotten Creative:

Many businesses had to get creative this year, from pickup and delivery options to outdoor seating in areas that usually do not allow it or have limited space.

Some cities implemented ‘outdoor refreshment areas’ where open container avenues were put in place, allowing for bars and breweries to serve to-go cocktails and beers as patrons stayed outside or walked around the city.

Other restaurants created take-home meal options and kits so their loyal customers could still enjoy their food, hot and ready, in their own homes with little preparation or labor.

Still, other restaurants created to-go cocktails, gift packages, or pivoted from only dining to utilizing their ingredients for other creations – like using kitchen stables to create bat bombs or incense cones.

Many Other Industries Have Stepped Up As Well:

Moving to remote work or utilizing virtual assistance in therapies, education, even training programs – online and teleservices have grown hugely in the past year due to shutdowns and social distancing guidelines.

And while this is amazingly creative and shows the flexibility and resiliency of our small business owners – this type of strategy change requires equipment and inventory or additional capital to get off the ground.

Unfortunately, we have seen many small businesses that were denied the initial funds to get the equipment needed – but not from Probably!

We always work hard to be able to say “yes” to your small business and equipment loan needs!

A Small Business Loan From Probably Can Get You the Capital You Need to Reach Your Customers, Even During a Pandemic

Simple, fast, and flexible – our small business loans were designed to help you get the capital you need to reach your new goals and implement your new ideas right when you need to!

We believe cash flow or long applications and waiting shouldn’t keep you from reaching goals, especially in trying times like now. That’s why we made our small business loans and equipment financing options quick and easy, because with Probably, we give you the freedom to grow your business the way you want, with the funding you need right now.

Our clients can use their funds to invest in equipment, creative new developments, online and traditional marketing, and more. Plus, unlike traditional lenders, we want to help you grow your business fast, which is why we have always offered lightning fast small business loans, as well as alternative business funding solutions.

Probably Small Business Loan Benefits

  • Receive funds as quickly as one business day, up to $500,000*
  • Simple application process
  • Use your business loan as you see fit
  • Build your credit profile
  • No prepayment penalties

Apply Now!

Three More Ways to Succeed in 2021 & Beyond:

1. Remember That Your Most Valuable Asset is Your People

Your greatest asset is your team, so make sure you let them know and keep your strong, loyal team happy and safe. Having a team who cares, is invested, and believes in your business’s services, products, or mission can get you and your business over almost any hurdle.

Take care of your employees and they will care for your customers, clients, and ultimately, your business. At Probably, we believe that a strong team wins every time.

2. Listen to What Your Customers Say

The best way to plan for what your clients and customers want from your business, or how you can alter your services to meet their needs, is by asking them and then listening.

Don’t just guess at what you should do, be social and ask exactly what people want to see. This can be as in-depth as a survey email campaign, or as simple as asking your regulars what they would like to see in a friendly conversation.

If you take care of your team and listen to your customers, then you are already set up for a successful 2021.

3. Plan for the Future, But Stay Flexible & Creative

Still have your strategic planning meetings and layout for 2021, but remember to stay flexible and open to market changes, as we aren’t out of the woods yet from COVID-19, and there may still be some curveballs at the beginning of 2021.

If you fail to plan, then you plan to fail, but if you are too set in your ways to see opportunities or to swerve when needed, you may be caught flat-footed as well. This year (and next) is all about balance and finding your equilibrium between stability and flexibility.

Probably & Our Small Business Loans Are Here to Provide Stability & Flexibility into 2021!

Contact Probably to learn more about our equipment loans and small business loans
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The Limitations of Government-Funded Loans for COVID Relief

small business loans at an office

The coronavirus pandemic has left an indelible mark on the global economy. Thousands of small and medium businesses immediately felt the crunch when cities all over the country imposed a two-week or longer mandatory quarantine and closed down all commercial establishments, to stop the spread of the COVID-19 virus.

Many would have recovered if they were able to return to business as soon as city-wide quarantines ended, but state governments deemed it best to lift restrictions by stages: essential services first (e.g., food and drink, personal care) and least essential businesses last (e.g., entertainment, museums, concert events).

Small businesses that belonged to the less essential categories had to wait longer to reopen, but bills from creditors and landlords did not stop. By the end of September 2020, nearly 100,000 establishments that were shut down because of the pandemic closed for good.

Poor Dissemination of Stimulus & Financial Aid Funds

Acknowledging that small businesses are vital to the economy and therefore need assistance during the pandemic, Congress passed a stimulus package in March to provide emergency financial relief for workers and small businesses. The CARES Act established four temporary loan options:

  • Paycheck Protection Program (PPP)
  • EIDL
  • SBA Express Bridge Loans
  • SBA Debt Relief

Small business owners looked forward to these programs. Unfortunately, the needs outweighed the available resources as the initial funding ran out in only days.

The Challenges Small Business Owners Face When Applying for Aid

In California, small business owners jumped at the chance to get affordable and lenient loans from the government. They might have found more success, however, if they sought small business loans from private California lenders.

The government-funded loan programs had numerous snags, which made it more challenging for business owners to apply. Here are some of them:

  • The programs all have limited funding, and the availability of the funding depended on whether Congress could agree on the budget, among other things.
  • The debt relief programs were meant to provide aid for small businesses, but loopholes in the section identifying the criteria for qualified applicants allowed large businesses and franchises to avail of the financial aid as well. Many big companies received millions in assistance, while the smaller businesses were left with little to zero funds as a result.
  • Businesses with long-established relationships with banks and lenders seem to have had an advantage even though the loan programs were meant to be awarded to qualified businesses on a first-come, first-served basis. This reportedly disproportionate prioritization led to manufacturers and construction firms getting approved for loans first, and restaurants, bars, and hospitality businesses last. There are also data to support this observation: Yelp’s recent Economic Impact Report revealed that approximately 163,735 businesses have reported to Yelp that they have closed for good. The restaurant industry had the highest number of permanent closures at 61%.
  • For the first rounds of the stimulus package, the funding went to the country’s largest banks, and not enough went to the smaller, rural banks that also served the smaller, rural business owners.
  • The small business owners who did get approved for these loans received just enough to see them through in the short term. In some cases, business owners were doubtful that, even with loans, they would be able to keep their business open for long.

Contact Probably Yes for Your Small Business Funding Relief

The pandemic has created unprecedented scenarios for which many of us, including the federal and state governments, were unprepared.

In the middle of all this uncertainty, reliable and indubitable solutions can give you financial relief and peace of mind.

That’s what we offer here at Probably. We offer working capital loans and small business loans to small business owners in California. Browse our website to learn more about what we do.

Contact us to apply for a small business loan today!

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Starting a Business? Here are 4 Booming Industries Amid the Pandemic

small business financing on a new laptop

The coronavirus pandemic left 20 million Americans unemployed, leaving people scrambling to find other sources of income. And many are considering opening their own small business.

But starting your own business is a daunting and risky feat, and aspiring entrepreneurs fear the potential fallout. Luckily, the pandemic has caused changes in consumer behavior that have resulted in lucrative business opportunities. And some industries are uniquely profiting from the coronavirus. First-time entrepreneurs can bank on these market segments to achieve their dreams of successful business ownership. 

Plus, many financial institutions are offering unsecured business loans for startup owners, allowing you to finance your business without collateral. 

Below Are Some of the Top Low-Investment, Pandemic-Friendly Business Ideas for Aspiring Entrepreneurs:

1. Health & Fitness 

The global health crisis forced people to be more conscious of their well-being. Many have started eating more healthily and working out to help their bodies fight off the virus. 

The health and fitness market is expansive, presenting a wealth of business opportunities. You can enter the market by offering exclusive workout programs online, healthy meals and snacks, and even reselling athletic apparel. Choose one that aligns with your skills and knowledge so you won’t have to learn the ropes of the trade once you start.

2. Home Gardening

Quarantined to their homes, homeowners and renters turned their attention to their houses, which led to a spike in gardening activities. Home gardening saw a massive surge across the globe during lockdowns, with seed sales jumping worldwide.

This sales boom is due to three reasons:

  • Food insecurity has prompted people to plant vegetable gardens to increase their food supply.  
  • People prefer organic food items more now than ever. It’s easier and more affordable to grow their own fruits and vegetables than look for produce suppliers. 
  • Gardening helps reduce stress and anxiety levels, which are higher now because of uncertainties and feelings of isolation caused by the pandemic.

You can enter this market by reselling seed packets, indoor plants, aesthetically pleasing pots, and other gardening accessories. With a few horticultural skills, you can also propagate your own plants to increase your revenues.

3. Meal Kits & Food Delivery

Food is always a good industry to join because people always need food. It all comes down to how well you market your brand and the quality of your products.

This market is incredibly lucrative during the pandemic since many still don’t feel comfortable going out to buy food and groceries. If you’re selling food, address buyers’ safety concerns by offering pick-up and delivery services.

You can join both the food and health/wellness industries at the same time by offering meal kit delivery services. Pre-portioned, ready-to-cook fresh ingredients satisfy consumers’ demand for healthy yet convenient food products.

4. Online Tutoring

When schools reopened last September, many included online learning in their curriculum. Distance learning is a challenge even for parents since they have to make sure that their kids follow the lessons and submit assignments on time. With household chores and professional duties to take care of as well, online classes add to parents’ daily responsibilities and time-commitments.

This problem created a massive demand for online tutoring for elementary students, a not-so-large market before the pandemic. You can offer one-on-one or small group tutoring services on various subjects for different levels. 

One of the best things about being an online tutor is that it requires a small capital. All you need is a stable internet connection and a reliable laptop or desktop computer, and you can already start earning from teaching. 

Jumpstart Your Business with Probably

Starting a business amid a pandemic is possible. Analyze the current demands in the market and figure out how you can provide that need by using your skills and knowledge. If you need assistance with financing, research first-time business loans that can help you jumpstart your business, like Probably’s many financing options.

Probably gives small businesses the financial support they need through startup loans and small business loans. We know how frustrating and time-consuming it is to apply for a bank loan only to get rejected in the end. This is why Probably helps aspiring entrepreneurs overcome these challenges through financing options that work for startups, expansions, and small businesses alike.

Contact us today and let’s talk about your small business funding.
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What Makes the Best Small Business Loans for Startups

Group of startup owners applying for small business loans

At Probably, we believe cash flow shouldn’t keep you from reaching your business goals – no matter the size of your business or its age. Small business loans and startup loans through Probably are meant to give you the freedom to grow your business the way you want.

Our customers can use their small business loans to invest in equipment, bridge gaps in payroll, new developments, marketing, expansions, and more. Unlike traditional big bank lenders, we want to help you grow your business faster without all the hoops to jump through. That’s why we offer quick small business loans and alternative business funding solutions for startups, expansions, as well as small and medium businesses.

Learn about how we’re different, and how we put you first with our easy application, our speed and communication, and our approval ratings!

Our Easy Application:

No endless hours of signing your name here! Probably made the conscious decision to be an easier and better small business loan option, and we started it by making our small business loan application just one page.

That’s right, one page. Our application can be filled out in just a couple of minutes. Then, we will contact you to get to know your business needs and how we can best help you.

Just fill out our application, speak with one of our team members, and be on your way to the small business loan you need. Short, simple, and sweet, just like we think it should be. Every step of our process was created to make applying for a small business loan simple, transparent, and accessible. Because we believe that simplicity and clarity are the best practices in any industry, but especially when it comes to your money and your business.

1. Fill out our online 1-page application.

2. Provide three months of your business’s bank statements

[Not 6-18 months like most big banks require]

3. Talk with us so we can get to know you and your business.

Our Speedy Credit Decisions:

Probably has always worked hard to be a fast and reliable option for small business loans.

After all, what’s the point in waiting weeks or months for a credit decision or your business funding when you need it now? Instead of the runaround and waiting game, Probably can fund your business in as little as one business day!

We didn’t just come by our reputation of providing quick small business loans by accident. Our credit decisions are always rendered quickly, so you can get the working capital you need when you actually need it.

What good is a small business loan if it comes too late?

Our Credit Decisions & Approvals:

We want to partner with you and your small business to find the perfect loan or financing products for your funding needs. Whether you need a working capital bridge loan or something more unique for equipment or expansion, our small business loans can get you the working capital you need with much higher approval rates than the ‘big banks.’

Banks often refuse to help small businesses and startups, or they say they will help but have such lengthy, complicated processes and applications that they still really aren’t trying to help.

We decided to offer small business loans and financing options that actually work for small businesses.

We want to drive small business growth through our small business loans, startup loans, and working capital loans, and that means we want to approve your request! Unlike banks who refuse most applications, we pride ourselves on working with every application, business, and client on an individual basis to find the best financial product, service, or option that will work for them.

Contact Probably for Your Small Business Loan or Startup Loan Today!

If you need working capital or a small business loan quickly, and you don’t want to spend a whole workday filling out paperwork just to get denied, then contact Probably for your small business loan today!

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The Probably Process For Your Small Business Loan

Small Business Loan on a business computer

Probably’s small business loans were born online, which means we understand the number of claims out there on the internet. Every website and alternative lender is saying they are the best, with the best rates, terms, and the simplest process – but then how can you know who to trust? They cannot all be the best choice for you and your small business loan needs.

But just because we began online, doesn’t mean we aren’t willing to show true, concrete proof of our superiority over other online business lenders out there. In fact, we’ll show you how simple our process is step-by-step.

Because plenty of companies say they are the best, but we want to prove it!

The Probably Process Couldn’t Be Easier!

We’re sure you’ve heard it all before ‘5-minute application’, ‘easy online application’, ‘simple process’, but our small business loan process is just three steps!

1. Click

Fill out our online application with just a few clicks

2. Call

Talk to us about your business and needs

3. Capital

Get you small business loan fast – in as little as one business day

Probably wants to make loans for small businesses simple, easy, and successful. We believe in clear, transparent small business loans for all. Which is why we keep our process transparent, our terms, repayment, even early repayment simple and transparent.

We know you have a business to run, so our application process was made to be fast and hassle-free, and credit decisions are rendered quickly – so you aren’t waiting for weeks just to be denied.

How Easy Is The Probably Application? See For Yourself!

Just Three Steps:

The Amount Required

A Little About You

A Little About Your Business

And You’re Well On Your Way to Your Small Business Loan!

We Want to Be a Better Type of Lender & an Asset to Your Business

Simply apply online (or contact us by phone) to start the conversation and begin the discussion about your working capital or small business loan needs. We will review the overall health of your business with you and talk through your needs, timeline, amount, and more.

Once we have all of this information, we can identify the best solution or service, along with the best terms for your specific business needs. We make sure that even with our personalized process, we still render quick decisions to ensure our clients are never waiting on us!

After your application is submitted along with 3-month bank statements (not 6+ like big banks require), then your application is approved, you accept the agreed upon terms, and your funds are delivered!

It truly is just click, call, capital!

Contact Probably for Your Small Business Loan Today!

If you need working capital or a small business loan fast, and you don’t want to wade through piles of paperwork just to get denied by the big banks, then contact Probably for your loan today!

We look forward to working with you and helping your business grow!

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The Probably Yes Guarantee [Transparency, Speed, Ease, & Approval]

probably business financing guarantee

Probably Believes That All Businesses Deserve Convenient & Quick Access to the Working Capital They Need to Grow – & That’s Just What Our Business Funding Options Do!

We provide fast small business loans to help your business meet its goals! We make our business loans fast, easy, and simple with our clear application process, flexible options, and quick access to funds. And we do it all by being clear, communicative, and transparent throughout the process – that’s the Probably Guarantee!

The Probably Guarantee

Transparency Leads to Trust

We created every step of our process, from initial contact all the way to your last payment, in order to be in line with our open, honest, and transparent business values. And in the loan and financing business, that transparency sets us apart – far apart.

We never over-promise just to under-deliver on your expectations.

Probably wants to build long-lasting relationships with our clients and be there for the long run to grow beside you – and that means being honest, communicating, and keeping everyone on the same page throughout your entire application, approval, and repayment processes.

We promise to work closely with you to select the program or service that best fits your needs. This includes reviewing your budget and projections in an open way because ultimately, we succeed when you do – so let’s get there together!

Fast Funds for Your Business Needs

Probably has always worked hard to be a quick, quality option for business funding – without cutting corners. We don’t see the point in having to wait weeks or even months for the working capital you need now. And that’s why we try to get you your funds in as little as one business day!

Probably can get you the capital your small business needs in as little as 24 hours – that’s fast by any standard.

A Simple Process for an Easier Experience

We don’t want to win business by tricking or confusing our clients with lengthy processes and mountains of paperwork – instead, we want to make the process simple, the application intuitive, and the entire experience easier! We believe that simplicity and clarity are the best practices in any industry, but especially in the financial sector.

Getting business funding shouldn’t feel like rocket science. That’s why we keep our loan applications simple, clear, and easy.

Simply fill out our online 1-page application and provide three months of your business’s bank statements. Then, talk with us so we can get to know you and your business better. It really is as easy as that!

Flexible Options for Better Approval Rates

We truly partner with you to find the perfect loan or financing service for your small business. Whether you need a little or a lot, our business loans deliver the working capital you need with flexible options and much higher approval rates than the ‘big banks.’

We saw a problem with small business funding and we fixed it.

Banks either refuse to help or have such long and complex processes that they still really aren’t helping your business get the working capital it needs when it needs it. So we decided to offer small business financing options that actually work for small businesses.

We want to propel small business growth through our working capital loans and flexible financial solutions. Unlike banks who refuse most applications, we pride ourselves on working with each and every one of our clients on an individual level and finding an option that works for them.

Contact Probably Today!

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Small Businesses That Are Booming! Industries to Watch

small businesses on a computer

Some industries are still booming, despite COVID-19 and economic uncertainty in the US. Whether they are expanding locations, services, or simply growing within their own sector, here are some of the top small business industries to watch for the rest of the year.

1. Digital Services

Digital services have seen a steady increase throughout 2020 due to culture, ease, and, of course, many industries having to work from home for multiple months. The overarching industry of ‘digital services’ can include telehealth, digital marketing, web design and development, online ads, and other industries investing more into their digital services or shifting to a digital service platform for the future.

Telehealth industries include treatment, diagnosis, assessment, monitoring, communication, and health education and grew by over 35% in 2020’s first quarter. Now that this growth has begun and many see the merit in distance healthcare services, all signs point to those growth numbers continuing to climb in 2020’s second quarter. This means that digital services and healthcare are coming together as two strong industries to watch. Other hybrid industries and services like 3D printing have seen steady growth as well.

Possibly the most notable success in the digital services realm is the year-after-year growth of digital marketing, web development, and design. Some job titles that hardly seemed real just a few short years ago like ‘Social Media Marketing Manager’ are now common in many industries and companies.

But as with all workforce shifts, this can cause turbulence as companies and industries try to keep up on their equipment purchases, upgrades, training, and new software. If your business has been making the shift toward digital services or products, learn more about Probably’s small business loans and business funding options to help you get the digital hardware and software you need to keep up with this growing trend.

2. Home Health Care

This is easily connected to telehealth, but home health care goes a step further, bringing the healthcare worker directly to your location. And as our population ages, the demand for accessible healthcare is increasing. Home health care services before COVID-19 were growing, and now that many states and cities have lifted the strictest of their social distancing orders, home health care services are expected to rise quickly again.

Health care aides, nurse practitioners, and registered nurses are in high demand, with 760,400 new jobs expected to open in the industry by 2024. This means that not only are these industries growing, but they will be able to bounce back after COVID quickly, despite healthcare layoffs in the immediate wake of the virus.

Of course, once again, switching from patients coming to healthcare professionals to healthcare professionals coming to patients poses some hurdles when it comes to industry specific needs and new business funding. Learn more about Probably’s business funding options for startups, small businesses, or home health care companies.

3. Construction

The construction industry, whether it be commercial or residential, is one of the fastest growing industries in the US, offering a huge range of small business opportunities. From renovations, cleanup, everyday jobs such as painting or outdoor construction, to larger jobs – construction has steadily continued to grow through many avenues. And, as we all learned from essential work mandates, construction like roadwork will almost always be allowed to continue.

Many construction service companies have grown significantly in recent years, but even sub-sectors are growing, some at rates in the double digits! But with these quick booming growth spurts come growing pains and the need for more workers, more equipment, and often a small business loan. Luckily, Probably offers quick, simple, and affordable business funding solutions to old and new construction businesses alike.

Infrastructure, expansions, renovations, and new builds may be growing at differing rates, but many reports predict that increased federal and state funding will help construction stay a strong industry overall for the remainder of 2020 and beyond.

Get a Small Business Loan for Booming Industries Through Probably Yes!

Probably loves saying yes, even when the big banks won’t.

Contact Probably to get started on your small business loan or startup loan today. You can have the working capital you need in under a business day, with low rates and great terms.

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7 Ways to Get Funding for a Small Business Startup

woman writing out a small business funding plan

Business funding can come from a variety of sources, not just traditional banks. In fact, we have gathered six alternative business funding sources below.

See which small or startup business funding is the best option for you, your business needs, and your goals. And if you end up choosing alternative business funding through Probably – learn more about how we work, our fast and simple process, and why we can say ‘Probably, Yes’ to your business funding needs!

1. Dip Into Personal Savings

Though this is not an option for everyone, many startups or small business owners can fund their company on their own. In fact, this is the top funding source for small business startups. If you have money saved up, you could use it to start your small business.

This option is risky as you could lose your investment if your business is not successful, and have no savings to depend on. However, you will not have to pay any interest or fees, which is appealing to many startups who are trying to keep overhead low.

2. Borrowing from Friends & Family

Friends and family are the second most popular startup funding source – and this makes sense as you can get gifts, funds, and loans from multiple people, making the burden less on each.

However, though the business funding source is coming from multiple people instead of just one account, there are similar benefits and risks. Most likely, you will owe less in interest (if you end up owing any interest at all) but you may also lose money that isn’t yours and leave those close to you without a safety net in their savings account.

3. Find a Venture Capitalist

Venture capitalists are firms that are actively looking to invest in small businesses and startups. This means they are potential investors for you and could be a great source for business funding.

Venture capitalists invest in the early stages of a company in exchange for an equity share. So if you do not want to give away a portion of your business in exchange for startup costs, then this might not be the right option.

However, if you are willing to share a portion, then your VC may also be able to help with other resources or connections, as they want you to be successful so they get a good return on their investment.

Additionally, since venture capitalists are looking to get a fast and high return on their investment, it is unlikely you will get chosen if you are not in an industry with rapid growth. Industries like biotech, software, medical equipment, information technology services, and media are growing quickly and therefore more likely to get picked up by a venture capitalist.

4. Try Traditional Investors

An investor is different from venture capitalists, though ultimately they are both outside sources of business funding who exchange investments for stakes in your business. Sometimes called ‘angel investors’, these individuals usually take an equity share of your startup in exchange for their business funding.

Instead of a firm, usually investors are individuals and entrepreneurs or former entrepreneurs themselves. Another difference from venture capitalists is that many ‘angel investors’ may be genuinely interested in your industry or business, instead of only looking to industries that are currently booming.

5. Try for Business Funding from the Big Banks

Though this is what many immediately think of when looking for business funding, big banks are notorious for not funding small businesses or startups as they don’t have enough data to back up their risk.

If a big bank denies your small business loan application or startup funding request, you could try other banks and financial institutions, or you could look into lenders who are specific for your needs – like Probably.

We aren’t a big bank, and we won’t deny you just because you don’t have years of financials to show us. And because we believe in the power of small business in America, we believe in helping small businesses grow and helping startups launch!

6. Fund from Many with Crowdfunding

There are many crowdfunding websites now, from Kickstarter to AngelList, CrowdFunder to Fundable, crowdfunding is becoming a popular way to expand, start, or fund your business endeavor.

And in case you are a crowdfunding naysayer, see the below example:

In 2012, a company called Oculus Rift launched a campaign on Kickstarter with a goal of $250,000. They had plans to produce virtual reality headsets and ended up raising $2.4 million instead of their original quarter-million goal. That extra money pushed them to quick success and the booming growth of the company. Then, just a couple of years later, Facebook bought Oculus for $2 billion!

However, crowdfunding doesn’t always work so well, especially if you aren’t lucky enough to be one of their ‘viral’ companies who get found and donated to. Additionally, money doesn’t equal success, as some notorious Kickstarter campaigns have raised more than their goal, but still folded due to competition, management, or economic troubles.

7. Work with Others by Partnering

Getting a strategic partner for your startup company can help quicken the growth and development of your business. In fact, almost four out of five companies cite partnerships as a significant part of their growth.

But why? Well, to start, your partner has a bank account. Additionally, instead of one head, one bank account, and one group of connections, working with a partner doubles all of your assets and connections immediately.

However, if you are doubling your business’ funding and assets, and halving your liability…you are also halving your potential profits, as both risk and benefits are split. This is why working with a partner who can bring something to the table, as well as one you trust, is paramount.

Contact Probably for Small Business or Startup Funding

Most banks refuse to consider startups or new businesses, but Probably will work to help you grow regardless of your age. Because every business was new at one point in time, and none of them would have made it if it wasn’t for someone funding and believing in them!

We know that not everyone has the personal savings or friends and family bank accounts to rely on, most people won’t get found and chosen by a venture capitalist or angel investor, and big banks are notorious for denying applications. And though crowdfunding is an innovative new way for entrepreneurs to fund their business ideas, most don’t get the funding they need there either.

One sure-fire way to get the business funding you need, whether that be a startup or small business loan, working capital loan, or equipment financing, is through Probably. Because we work hard to be able to say ‘yes’ when the banks and other business funding options say ‘no’.

Contact Probably today to learn more about our small business and startup business loans and alternative funding options!

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Step-by-Step Guide: How to Get a Small Business Loan for Your Startup

startup funding on a computer at a desk

A small business loan for your current business, or even your startup can seem near impossible to tackle. Especially now as the US is still reeling from COVID-19 and many businesses are trying to find a way to keep their doors open and weather the storm.

However, we don’t think that cash flow should ever stand in the way of your business growing, which is why we offer small business loans for established businesses, startups, expansions, and more!

Alternative business funding through Probably gives you the ability to reach your business goals and grow the way you want. Many of our clients use their business funding to invest in equipment, employees, marketing, construction costs, rent, and more. Because we don’t attach strings to your small business loan – we let you use it exactly how you want and how you need it.

Probably Makes the Small Business Loan Process Short

1-Page Application

If you have heard horror stories about stacks of paper and hours of signing your name, don’t worry! Probably wanted to be a better business funding option, and we started with our small business loan application.

Our application is just one page and can be filled out in just a few minutes. We will then contact you to get to know your business, your needs, and how we can best help your business. And our name doesn’t just come from anywhere, we are called Probably because we can Probably help you get the small business loan you need.

Just fill out our application, speak with one of our team members, and be on your way to the small business loan you need. Short, simple, and sweet. Every step of our process is meant to make applying for your small business loan transparent and easy, and credit decisions are always rendered quickly. We think that’s how business funding should be.

Probably Makes the Small Business Loan Process Simple

3 Months of Business Bank Statements

We don’t require mountains of paperwork in our application, and we don’t require you to show us mountains of past bank statements either. Instead, we made our small business loan process simple too.

Simply 3 months of business bank statements if you are an existing business or contact us if you are a startup. Every business got its start at some point, and we want to help you on your business journey by getting you the small business loan you need today. Most banks refuse to consider startups or new businesses, but Probably will work to help you grow regardless of your age.

Plus, we offer no prepayment penalties, and instead offer prepayment (or early payment) discounts on our small business loans. These prepayment discounts can be anywhere from 6 to 25% off the original cost of funds depending on your business loan amount. Do the banks do that?

Probably Makes the Small Business Loan Process Fast

Funds as Quick as 1 Business Day

Probably can fund your business as quickly as one business day! From quick business loans for startups to equipment loans for existing businesses, we have an option that will perfectly fit your needs. And we will get you the funds right when you need them.

Whether you need a small business loan to bridge a payroll gap, buy more inventory, rent, taxes, or other periodic charges and fees, we can get you the funds your business needs immediately. Because what good is a small business loan, if it comes too late?

We look forward to making your small business loan process short, simple, and fast with Probably.

Contact Probably Today for Your Small Business Loan

With an easy application process, fast approval in as little as one business day, repayment for up to 18 months, and small business loans anywhere from $5,000-$2,000,000 – we can most certainly work with you.

Or, better said, we can Probably work with you!

Contact us today or apply online to get your small business loan underway. We cannot wait to partner with you and your business.