iBank.com - Savvy small businesses can save thousands of dollars on business loans, equipment leases, and commercial mortgages

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Here at iBank.com we spend most of our time connecting the small business with the appropriate business loan, equipment lease, or commercial morgage. This puts us in the particular position of being extremely educated to the ins and outs of the current small business financing trends.

One of our business development managers was telling me the other day about how a particular small business was able to save more than $50,000 over the life of its loan by going with a line of credit instead of a merchant cash advance. The small business was eligible for both types of loans but without the appropriate information the company could have wasted tens of thousands of dollars.

Since we are so knowlegable about this industry we realize how fluid the requirements for all the different loans really are. Equipped with this realization a small business is much more capable of fending for itself if it takes the opportunity to shop around and figure out all of the different types of loans that they qualify for.

Fending for themselves can be daunting however. Just on the iBank.com website we have over 80 loan types listed. Luckily, the iBank.com service takes the risk of changing loan requirements and confusion of loan types and simplifies the process into one application. After the application is filled out the magic really happens, something that could only happen at iBank. The lenders look at each and every business regardless of what one would assume the loan type they would be applying for. This fact alone allows the small business to be offered loans that no one would ever imagine they would qualify for and, even more remarkable, as soon as the qualifications change the small businesses are again being offered the loans that they qualify for. This way there is no lag between the change in qualifications and the small businesses realizing that they can apply for them. All the small business has to do is sit back and compare the offers they get for loans.

The moral of the story is that this industry is under so much flex these days. Even with the exposure our office gets to all of the changes in the loan qualifications there is no one that can truly keep up with all of them. If the small business takes it upon itself to keep seeking the capital there is more and more chance these days that they will find it at companies and loan types that they never expected.

Robert Moore,
iBank Comm/Tech Team
(714) 549-4226 ex: 135
rmoore@ibank.com
3151 Airway, Building G-3
Costa Mesa, CA 92626