| By :
Marco Carbajo
Looking for a small business loan for your company? Tired of dealing with traditional lenders that ask for collateral, tax returns, balance sheets and pretty much everything under the sun? While micro business loans have become a viable alternative for small business owners there's a new type of micro loan credit card that lenders have been introducing into the marketplace. This is another option for small business owners that is much faster than even micro loans simply from the fact that the credit approval process is strictly based on your credit scores. You may be familiar with a secured credit card that helps rebuild your personal credit but now lenders are offering a credit card exclusively for business owners called the Small Business Micro Loan Visa Card. With credit availability among traditional lenders hard to come by it's a new breed of credit specifically designed for small business owners like you. It's a much better option then relying on your personal credit cards to finance your business because not only does it help track your business expenses but also protects your personal credit ratings as well. This is a popular source of capital because of its ability to obtain quick cash, what I call cash on demand. Typically, it works like a revolving credit card but the major difference is that it has much lower credit limits. While small business loans are used to expand a business, purchase equipment, buy inventory or simply increase working capital the micro loan credit card provides the cash credit you need without the time delay. So if you're looking for a micro business loan without having to deal with all the requirements that come with traditional loans then this may be the card for you. As far as underwriting most lenders will pull a personal credit check from the major credit agencies like Transunion and Experian and as long as your credit scores are favorable then you should be able to qualify. Keep in mind there are several fees that come with opening an account like this so make sure you read all the terms and conditions of the offer. When your account is opened you will be charged these fees so your initial credit availability will be slightly less than your approved credit limit. Here is a quick overview of the Small Business Micro Loan Credit Card: Small Business Micro Loan Card *One-Time Origination Fee *Quick and Easy Access to Capital *Monthly Maintenance Fees *Keep Business Expenses Separate from Personal Expenses In today's ever changing business climate you will start to see that more and more lenders and banks will introduce new and diverse credit products specifically designed for small business owners like you.
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