Fast Small business lending may seem like an easy process but for the small business owner it can be one big hassle with no result. To navigate through the lending process, and it is a process, requires what business owners have very little of; time. While most owners certainly understand the lending process I do not think they have the slightest idea about what a hassle it can be especially in the alternative lending space.
I’ll dedicate this blog toward the small business alternative lending arena. That is the specialty of smallbusinessfunding.com A business owner first fills out an application. The application is one page, maybe two at most. It will ask for basic information, nothing too intrusive. This will give us an idea of how much you can actually receive and to what lender/s we should send your details to. We will also set your expectations of the process so you are not taken off guard with respect to the payback amounts and terms. These are not traditional loans and the amount the credit costs is a factor of how fast you get your capital. The application takes minutes, the approvals take hours and the funding just days. This costs money. When a business owner needs $30,000 by next week they cannot go to their bank. Even if they have a stellar FICO score and sizable deposits, a bank cannot facilitate a loan that quick.
Small business lending of this nature will run between 10% and 50%. The term will be short term…3-12 months. There are some lenders willing to go out to 24 months to provide fast small business lending but they are few and far between. This type of lending also helps those business owners with poor credit, a tax lien, or a bankruptcy. The underwriting used by alternative lenders is much different for this kind of fast small business lending. It is based more on performance rather than credit score. The process is so time consuming because each lender will request different documentation and different requirements. Small Business Funding weeds through all this and streamlines the process behind the scenes and presents the offer and terms to the business owner. We work hard on the business owners behalf to secure the proper funding in a very short period of time. To apply for fast small business lending please click here