Capital Solutions Bancorp Offering New Option for Small Businesses Struggling to Get Financing

Read any major business publication and you'll find many stories of banks turning down small businesses for a loan in record numbers. According to the National Small Business Association (NSBA) survey, 75 percent of banks have tightened their standards as of October 2008. The number is letting up to about 40 percent, but loans for small businesses remain out of reach.

"Facing shrinking working capital (http://capitalsolutionsbancorp.com/) and unapproved loans, businesses turn to credit cards to get what they need to grow their business, meet payroll and address other business critical activities," says Carlos Weil, CEO of Capital Solutions Bancorp (http://capitalsolutionsbancorp.com/). "Credit cards have their problems especially more so today with increasing rates or missing payment due dates. The small Business and Entrepreneurship Council report has a surprise data: about a third of companies receive their credit card bills after the due date. That puts the businesses at risk for increasing rates and penalties.

"Businesses don't realize they have other options available besides credit cards and bank loans. Such available options include invoice financing in which only 1 percent of businesses use. Invoice financing gives businesses the option of selling their accounts receivable invoices at a discounted rate for instant cash. The risk in invoice financing is lower because the business gains cash that belongs to them, not a loan they must pay back."

Capital Solutions Bancorp now offers a flexible line of credit (http://capitalsolutionsbancorp.com/) in which the business would pay interest only on the funds taken out of their account. A flexible line is where the business receives its loan in an account from which it can then be applied to payroll, vendors, inventory and more. The company doesn't require collateral or assets like banks do. It looks at other important factors especially since service-based businesses don't always have the needed collateral. That's why the line of credit is "flexible." It's about matching the business with the right financing solution.

For interviews or help, please contact Rob Oskins at 800-499-6179 or roskins (at) capitalsolutionsbancorp (dot) com.

About Capital Solutions Bancorp Capital Solutions Bancorp (http://capitalsolutionsbancorp.com) is a financial services company with operations in North America, South America, Europe and Asia. The company focuses on providing flexible and affordable working capital to small and mid-size business that are looking to grow. The firm works with the business to determine what financing solution best fits its needs. The company's United States headquarters is in Fort Myers, FL.

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