If you lack the requisite credentials to secure funding from a conventional lender, there are alternative lenders you perhaps can turn to.
As a rule, these lenders often have less stringent requirements and offer shorter turnarounds than traditional financing options. Alternative lenders are sometimes more flexible than banks and credit unions with respect to rates and repayment terms as well. There are several options to secure financing for a new business. It should be noted, however, as a new business without assets, financial institutions are reluctant to offer traditional bank loans. Once your new business is up and operating and has a steady cash flow, a more traditional bank loan may be available if wanted.