Non Profit Micro Lenders Can Provide New Funding Resources

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Today, many non profit lenders or certified development companies regulated by the SBA seek new funding resources.  Where can they seek new funding?  Traditionally, these organizations have turned to the SBA , foundations, grants, and companies who donate money.  Today, there is a new breed of business funding out there known as alternative lenders.  Alternative lenders will not provide funding directly to non-profit organizations but can do several things for certified development companies and non-profit micro lenders.  First, they can supplement existing funding from these organizations.  Most non profit micro lenders provide loans up to $50,000 with an average approval loan amount of $10,000.  What if the business needs $50,000?  Alternative lenders can fill the gap and provide the difference.  In addition, if these organizations deny a loan, alternative lenders can approve business borrowers with credit scores as low as 500, because they based their credit decisions on cash flow.  Alternative lenders can serve as a new business funding solution to non profit micro lenders.

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