Whether you’re trying to finance a new startup, or your company has an unexpected expense, the only constant in the world of small business is the need to access cash. When many entrepreneurs need capital, they automatically think of growing straight to their bank. While that may work for some people, others need to get around the lengthy approval process and slow turnaround time of a traditional bank loan. For many, small business loans from alternative lenders are a perfect solution. Here are some of the ways they might be better for your company than a bank loan! Easy Approval Process. Banks are built on the principle of making “safe” investments. That makes sense, but in practice, their methods for determining the bankability of a company are exhausting and subjective. In many cases, it all comes down to a combination of the business’ credit score and the personal credit score of the business’ owner. Again, that sounds like it makes sense. The reality, however, is that many s...
