Reducing Barriers to Entrepreneurship

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  Easy Access To Credit

  Access to capital is the lifeblood for new small business and the U.S. economy. We should pursue ways that to provide easy access to credit so that the entrepreneurs dream can be realized for more people. Many businesses today have a difficult time getting small business loans. Right now, nine out of 10 business loan applications fail. We should use technology to enable easy access to credit – like an online platform ...more »

  Access to capital is the lifeblood for new small business and the U.S. economy. We should pursue ways that to provide easy access to credit so that the entrepreneurs dream can be realized for more people.

  Many businesses today have a difficult time getting small business loans. Right now, nine out of 10 business loan applications fail. We should use technology to enable easy access to credit – like an online platform that matches qualified business owners with the right lenders and loans. Entrepreneurs should be able to have access to unsecured lending programs, business cash advances and cash-flow-style bank loans.

  The idea is to create a lending platform that can provide cash advances quickly and simply without regard to the business owner’s credit score. Even if a business has been turned down for a small business loan, it still may qualify for a business cash advance. Approvals should be made in 24 hours or less, and funding should happen as quickly as 7 business days. This lending platform should be able to fund businesses with credit scores below 650. The aim should be to offer loan matches to business owners with lower credit scores, or those that are simply in a rush to get financing for a particular product and don’t have time for traditional underwriting timelines.

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  Submitted by alexis.goncalves 1 year ago

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  Expand the SBA Score Program & Rehire Americans

  The SBA should ReHire recently retired and laid off business professionals to work with the SBA's SCORE Program which provides direct business counseling services to new Entrepreneurs. This would serve to remove large numbers of skilled and talented workers from the unemployment roles and at the same time give Entrepreneurs the guidance they require to become successful! These new SCORE advisers should be given the ...more »

  The SBA should ReHire recently retired and laid off business professionals to work with the SBA's SCORE Program which provides direct business counseling services to new Entrepreneurs. This would serve to remove large numbers of skilled and talented workers from the unemployment roles and at the same time give Entrepreneurs the guidance they require to become successful! These new SCORE advisers should be given the opportunity to chose to go to work with or for the companies they advise after investing some amount of time in the SCORE Program. The SBA should be very aggressive in making direct low interest rate loans to Start Ups much as we have done with School Loans bypassing the Banks entirely! If the banks are not loaning to Start Ups the Government must step up!

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  2 comments for Idea: Expand the SBA Score Program & Rehire Americans

  Submitted by segalsmail 2 years ago

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