How To Find The Best Small Business Loans
Today we are going to be discussing unique ways to find the best small business loans.
A MarketPlace For Small Business Funding
One really great option for small business owners is to go to a lender with a network. Lendio is the #1 Marketplace for small business funding. They offer you a whole bunch of different financing options for all types of small businesses.
Just fill out a few simple questions and the matching service will provide you with the best options. This takes a lot of the work out of the loan process for business owners and can save you time. Many times small business owners do not realize what it takes to get a business loan. Some lenders require you to be in business over 2 years. Others may want you to have a specific amount of revenue per year before considering you.
If you do not know how to filter these requirements out, you may apply and then be disapproved. The beauty of the matching service is that they will do this work up front so you only apply when qualified.
This is just one option if you are wanting to apply for a small business loan.
To check out the Lendio Business loan marketplace for small business owners just visit www.Lendio.com
Peer-to-Peer Small Business Loans
Another avenue to take is to apply for peer-to-peer small business loans.
Lending Club, Funding Circle and StreetShares are just some of the top business lenders that use P2P.
You can get affordable, simple business loans up to $300,000 at Lending Club.
What Are P2P Small Business Loans?
The process is different than traditional bank loans. It can include a shorter application process and quicker access to cash though. Their loans are unique compared with those from traditional banks and can tend to have higher interest rate.
Individual investors fund the loans over the peer-to-peer platforms. It is another option to get funding for your business.
How a Peer-to-Peer Personal Loan Might Work?
There are regular P2P personal loans that you can apply for and get cash for your business. These generally only go up to $35,000. But if that is all you need, this can be a good alternative.
All of these can be great loan alternatives to traditional bank small business loans. Getting cash for your business is imperative to growth and expansion. It allows the purchase of inventory, working capital, staffing and to take advantage of opportunities.