The next time you are considering a loan for your business from the traditional source–a bank, you might want want to consider your option…barter. Recently we talked with a client of a trade exchange, who, admittedly, is a staunch proponent of barter credit as a way to reduce his bank borrowing.

He explained that at one time he was a veteran of the banking scene, and had lines of credit as high as $250,000 in the past. No longer, now that he’s discovered barter.

Asked to compare the borrowing from a bank to that of his trade exchange, he smiled and replied, “How can I compare the two experiences?

“With the barter company, all I had to do was give them a current financial report on my company, as well as sign a commitment that we would provide $75,000 worth of our services to members of the barter network.

“To get that same $75,000 from a banker, I’d be on the phone about 40 times and would have to complete numerous forms. They would require every single piece of personal information about my family, right down to my children’s birth certificates.”

This statement exemplifies why the barter option is gaining significance in the world of financing. The client summed it up best: “Why would anyone want to go through the aggravation of dealing with a bank when the same thing can be accomplished more easily and quickly through barter and their trade exchange?”

Editor’s Note: The trade exchange sends you new business to pay off your loan, when did your bank offer such a service!

If this concept of barter is new to you, check out our inexpensive package for a further education: ENTREPRENEUR

Are you a fast tracker? Then you will want our FastStart Barter Program: FastStart

This entry was posted on Tuesday, December 18th, 2007 at 9:48 am and is filed under Marketing, Purchasing & Financing. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.