If you’re like most small business owners, you’ve been on quite the roller coaster for the past nine years. You pinched pennies, made sacrifices, and deferred capital investment projects. Well, your patience has finally paid off. The economy is back on a roll, and small business owners seeking to borrow funds for projects of any kind are being met with competitive rates and efficient processes.
The past decade not only saw inefficient and antiquated financial firms dissolve, it also saw savvy and sincere innovators rise up and fill in the void. The evolution of FinTech has resulted in the emergence of time-saving financial tools. Some lending technology companies have developed systems that deliver funds in just 24 hours, while others have improved the processes by which large capital projects are funded. Simply put, the days of slow and stuffy banking are over.
No two loan application are exactly alike. A restaurant owner may need a few thousand dollars to get through a payroll week, while a multinational consulting company may require a long-term loan to fund an extensive building project. Each of these needs, and all those in between, are suited for different types of loans. Here’s a quick comparison of a few of the most common loans offered to small businesses:
|Online SMB Lender Loan||Traditional Bank Loan||SBA Loan||Merchant Cash Advance|
|Processing Speed||Very Fast||Slow||Slow||Fast|
There’s certainly no shortage of loan types available to modern business owners. Understanding their strengths and intricacies is much easier in partnership with a reputable company like LendingTree.
LendingTree does the legwork for you, carefully considering the nature of your business and your capital needs, then recommending only those loans most likely to result in approval. With a simple online form, LendingTree works with thousands of lenders across the country, making them compete for your business.
Funds are just a short click away. Click on your state below to make banks compete for your business today. The application is free, and the offers are yours without obligation.