The good news is small business loan approvals at big banks are up. Banks have made great strides to make the loan application process easier and are definitely spreading the word they’re loosening their purse strings. In the meantime, however, financing alternatives such as credit unions and small banks had already stepped in to fill the gap big banks left while the economy was in turmoil. Unfortunately, credit unions have a lending cap of 12.25 percent of their assets, which means many have already hit their limits on loans to small businesses. If you can’t find a credit union willing to lend to your business, you may want to look into cash advance companies, which fill the need for quick cash (although at higher interest rates).