As a small business owner, it can sometimes be challenging to get access to finance from traditional lenders like banks. There are several reasons for this, like insufficient collateral to secure the loan or a debt to income ratio that is outside their accepted level – but mostly it comes down to risk. A small business can be seen as too risky for many traditional business lenders. If you have been searching for ways to boost your cash flow or pay seasonal casuals, turning to traditional lenders for your small business lending may not be your best option. Although they offer business overdrafts, a business line of credit or short-term commercial loans for these situations, you need to ensure you meet all the lending criteria of the financial institution you are applying to – which can be challenging. Short-term commercial loans or equipment finance can be used to fund the purchase of new equipment, tools, IT or a business vehicle, yet they too can often be difficult to get from the big banks due to many factors, including the size of your business or the length of the loan term that you are seeking. Some traditional business lenders offer unsecured small business loans, but the loan amounts can be lower and the qualifying criteria are much tighter due to the lack of security. That means this type of business lending can be harder to come by from the big banks. You could consider using a business credit card as a handy way to inject a bit of funding into your business or a quick way of covering some short-term costs. This can, however be an expensive option in the long term. Many business owners even use personal credit cards, while others prefer to keep business and personal separate. If you are looking for finance to support your business cash flow, take up an opportunity or move your business to the next level, you should consider a small business lending specialist like Prospa. We offer flexible loan opportunities designed especially for the needs of small business with cash flow friendly repayment options and dedicated support.