With a sizable tourist market and plenty of small towns, Massachusetts is often a perfect retreat for the historically minded traveler. There are thousands of bed and breakfasts all over, historical hot spots like Plymouth and Salem not to mention foliage, bird watching and ski locations all over the state. Over the summer, overseas tourists pour in and Cape Cod fills up with day trippers, weekend and summer residents. And all of this supports an incredible variety and number of small, independently owned businesses in Massachusetts.
While big chains still have their place in the state’s economy the tourist market is particularly supportive of these independent shops, lodges and services. No one comes to Providence Town to eat at McDonalds. However, in these current financial times, Americans are traveling less and staying closer to home, cutting into the tourist market. Many of these small business owners in Massachusetts are finding themselves in more trouble as the seasons finish with less turn out than previous years.
Finding Massachusetts small business loans is also not as straight forward as it used to be. Small business loans Massachusetts are still available from traditional sources but they are more difficult to get and often require collateral on the loan. Because of the current economy and the credit crunch, banks have tightened their standards for loans making it more and more difficult for even businesses in good standing to qualify. Private investors are staying away from the small independent businesses and sticking to more standard fairs in order to protect themselves. This is leading to a drain of funds away from some of the most creative and independent businesses in the state. If Massachusetts small business loans do not become more readily available a lot of the most precious assets to the state will be lost. After all, people don’t come to Boston for Disney World.
Luckily there are alternatives to small business loans Massachusetts. Many owners are already aware of merchant cash advances because they were already denied bank small business loans Massachusetts based solely on the industry they were in. Typically, businesses like restaurants were already considered too risky before the credit crunch for banks to invest in. That is where merchant cash advances play a role. These are not Massachusetts small business loans but rather a purchase and sales agreement with the funding source. The advance can be used at the discretion of the owner and there is no collateral attached unlike with many traditional forms of Massachusetts small business loans.
There are also unsecured small business loans Massachusetts which provide owners with funds without requiring any collateral. These forms of small business loans Massachusetts will also work for owners without perfect credit as they are based mostly off of credit card sales instead of credit score.
While the situation is improving, for many small business owners in Massachusetts these alternative Massachusetts small business loans can mean the difference between closing down and being able to keep their companies running to see better days.

Small business loans Massachusetts, Massachusetts small business loans

Author: XavierJain

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