According to a recent report, big banks approved roughly 22% of small-business loan requests in June. With traditional options still too laborious for most applicants, alternative lenders have made it easier than ever for small business owners to get financing for their business.
Easy business loans can come in a variety of forms, including working capital, business cash advances, line of credit and unsecured financing just to name a few. Alternative lenders offer quicker turnarounds and more personalization for the customer, making the application process super quick and extremely simple. Additionally, most alternative lenders have the entire application online, allowing the business owner to apply at their convenience as oppose to going to the bank and waiting in line.
Although easy business loans from online lenders can be a good option for borrowers with bad credit, that’s not all they’re fit for. Many borrowers, who would qualify for bank loans, still turn to online lending companies to get cash fast and conveniently. Online small-business lenders typically offer higher approval rates and faster funding than banks, giving business owners more incentive to turn to alternative sources for capital.
Bizfi makes it super easy to get financing. Our free business loan calculator provides you with an instant quote, and you can submit your application securely through our website in just a matter of minutes. Once we receive it, our revolutionary online technology helps accelerate the application review process, so we can provide you offers in real time.