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The United Capital Source Business Journal

You’ve heard the stories.

Free gourmet meals, free onsite daycare, free haircuts, free dry cleaning, nap pods, gyms, swimming pools, bring your dog, foosball, pin-pong…

Google’s employee benefits package is famous. Mind-boggling even. If you’re a small business owner, it can be intimidating. How can you compete with it?

It seems banks want to know everything about you. You have to send them business plans, projections, profit and loss statements, and the guest list to your 12th birthday party. But many lenders aren't very good at sharing information with you.  They'll send you the denial, but they aren't very forthcoming about why your small business loan was denied.

It’s hard to imagine Suze Orman as anything but a financial wizard. Fast-talking, straight-shooting, she’s been imparting financial expertise since 2002. USA Today called her a “one-woman financial advice powerhouse” and Forbes named her one of “The World’s 100 Most Powerful Women” in 2010. Her talk show, The Suze Orman Show, is heard by avid listeners around the world and continually garners award after award. She’s one of the most instantly recognizable financial experts in the US today.

But that isn’t where she started.

Sooner or later your small business will need to borrow money. That’s just a fact of business life. It doesn’t matter what type of business you own. Or how popular it is. The good news is that small business owners have many borrowing options today. The bad news is it can be tough to get funding if you have bad credit. Unless you choose a merchant cash advance, or MCA.

The most recent figures from the US Census reports, there were 23 million solo-preneur businesses as of 2014. Many of these businesses were started by everyday people who had a goal of working for themselves, using their own talents, and hoping to someday create more opportunities for others. It takes money to start a business. Most experts recommend that a small business owner start out with at least three to six month’s salary set aside for this purpose, but for a business that requires equipment or a rental space, this can be much higher. Coming up with the capital to start a business may be the first challenge that an entrepreneur will face.

Every small business depends on equipment of some kind. Many small businesses use several different types of equipment. The cost of these assets can vary from small to hundreds of thousands of dollars. Small business loans are often the only way you can afford the equipment you need. But is leasing a better financing option?