Brad Bernstein, President of Anchor Funding Services, was quoted in a recent Smart Answers question about "Landing a Business Loan After A Bankruptcy" Smart Answers for Entrepeneurs covers entrepeneurship and small-business issues that gets specific advice from experts in a twice weekly column.

The question raised was how to does a small business get funding after its been turned from several banks because of a personal bankruptcy. The author mentions that banks have been tightening lending standards and that there are other options including bootstrapping, strategic investors, but the majority of the column is about factoring.

If your company has business-to-business commercial invoices, factoring is an option, Brad Bernstein was quoted, "Unlike a bank where a small business goes to get a loan, we don't care whether the client has poor personal credit, is profitable, is new, or is growing fast."

Anchor Funding Services finances product and services companies in many industries, including IT, staffing, manufacturing, security and transportation. If your business could potentially be a candidate for factoring, get a no obligation quote, or call one of our Account Executives at 866-950-6669.

Labels: anchor funding services, brad bernstein, small business factoring

According to the AP, The Federal Reserve said Monday that a majority of the banks surveyed reported tigtening their lending standards and terms on all major categories of consumer and business loans over the last 3 mos. The tightening of standards means that less and less small and medium sized businesses are unable to get a loan from the bank to expand or continue operations. According to additional results of the survey, according to Forbes, the trend will continue, "as on loans to businesses, 55% of domestic respondents, ... said they expected to tighten standards in the second half of 2008."

This means there will be little relief for small and medium sized businesses through the rest of the year. These businesses will have to turn to alternative financing methods to increase their cash flow. Factoring, or accounts receivable financing, is one alternative to quickly and easily increase cash flow.

Anchor Funding Services, a factoring company, offers low rates, flexible programs, Free Credit Checks, and a free ho hassle application. Visit our website to get a no obligation quote or us call toll-free at 866-950-6669.

Labels: factoring, tightening business loans