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A small business loan with a twist

Catch 22.

You have a terrific idea for a profitable small business. You need some startup cash to get it rolling. Or maybe you’ve started your business and an influx of cash will take it to the next level.

Problem is, you haven’t been in business 2 years yet so banks aren’t likely to give you a loan. Or maybe your credit history isn’t strong – you’d gladly pay a higher interest rate, but none are available.

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You’ve dug in to all the StartupNation articles and radio shows about finding funding for your business, so you know all the options. Maybe your business isn’t potentially high-return enough for angel investors and maybe your friends & family just aren’t a realistic option that you’d like to explore.

We have another idea for you to check out. We’ve created a group at Prosper.com strictly for StartupNation members. If you’re looking for a cash infusion to start and/or grow your business, this provides another option.

It’s basically peer to peer lending. A pretty cool idea. Which means if you have some cash you’re looking to invest & potentially get a stronger return than a bank, money market or CD generally offers, this may be an additional investment tool for you.

Either way, check it out.

Let’s get some businesses to Start It Up !!

About the Author: Joel Welsh

Joel Welsh, Chief Community Officer, is also the CEO of a new startup company ... Showcase U. Joel shares behind the scenes key decisions being made in the "Birth of a Startup" and knocks it out of the park to [...]

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