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SOURCE Sunovis Financial
Sunovis Financial Loans Deliver a Reliable, Cost Effective Lending Alternative for Small Businesses in Need of Capital for Continued Growth
SAN FRANCISCO, Oct. 23, 2013 /PRNewswire/ -- Sunovis Financial, a leading online small business lender, has opened up a new option for healthy small businesses that need additional capital for continued growth. At a time when access to capital continues to remain a major obstacle to small business growth, Sunovis Financial announces its new Premier loan product loan rates as low as 8.00% for a 9-month loan term.
"Today's small business owners are really having a hard time due to the fact that traditional banks are frequently unable to approve them and alternative lenders unfortunately abuse them," said Jim Albertson, President for Sunovis Financial, http://www.sunovisfinancial.com/.
Traditional banks have struggled, due to tightening lending guidelines and restrictive regulations, to fulfill the capital needs of small businesses, leaving many small business owners searching for alternative lending sources. The Federal Reserve Bank of New York Small Business Borrowers Poll for 2012 stated that 36% of respondents cited access to capital as a barrier to growth. With the emergence of cash flow based lenders, such as Sunovis Financial, small business owners now have a significantly lower cost alternative that is fast, straightforward, and secure. More importantly, the terms are clear and understandable, allowing small business owners to plainly see the total cost of the loan before committing.
With this new breed of non-bank lenders, small business owners should take the time to understand the terms. Many lenders offer misleading interest rates and terms as found in merchant cash advances and high-risk lenders. These new funding sources can create intentionally confusing calculations when it comes to the overall interest cost of the loan.
Sunovis Financial's Premier loan products save small business owners money by only charging interest on the amount they currently owe – so as you pay down your loan, you pay less interest. Cash advance companies and other small business lenders charge interest and fees on the entire loan amount, no matter how much the small business owner has already paid.
With its new Premier loan product, Sunovis Financial does not require personal guarantees or personal credit checks as all decisions are based on the financial health of the small business alone.
Sunovis Financial takes the view that a business owner should not have to put their house, their car, or their hard-earned savings at risk to secure a business loan. Awareness of the various funding options can save small business owners money and is critical in determining the total cost of the loan. Small business owners should look for a lender that is transparent and offers a calculation on the total cost of the loan upfront.
About Sunovis Financial
Sunovis Financial is a leading online lender specializing in helping small businesses with healthy cash flow. Typical customers include health and dental practices, retail stores, restaurant and franchisees, online companies, and more. Sunovis Financial currently serves over 700 industry types.
In a unique approach to lending, Sunovis Financial's current Premier product has been voted as the 2013 lowest cost small business product. Sunovis Financial is also unique in the respect that their Premier small business loans require no personal guarantee, no collateral, and have no prepayment penalty. It makes loans of up to $100,000 to qualified applicants within a few business days, with affordable terms to companies who have demonstrated sound cash flow management. Sunovis Financial's speed and transparency make it a trusted alternative to banks.
For more information contact Jim Albertson at 415-323-3885 or visit www.sunovisfinancial.com
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