Many people dream of becoming entrepreneurs, and often the biggest...
Letting technology do the heavy lifting for certain monotonous tasks...
Tax season often triggers stress and complexity—especially for...
The halfway mark of any given year is...
September 14, 2020
Many business owners are approaching fintech or digital lenders for alternative funding that may fall outside of the traditional banking system. Nontraditional lending firms are non-banking organizations that provide financial services like loans and credit facilities. Here are a few important facts about nontraditional lending firms that every business owner should consider before choosing any option.
According to the Los Angeles Times, one of the main reasons why small business owners are most often attracted to fintech outfits or other alternative lenders is the faster cash distribution process. Once entrepreneurs submit their necessary application information and are approved to receive the capital, they can typically receive funds in 24 hours or less. The following advantages make nontraditional lending options an attractive option over traditional banks and lenders for some business owners.
Nontraditional lenders usually offer loans with shorter terms and higher interest rates than traditional business lenders. Therefore, entrepreneurs must check and understand the following five factors before choosing any financing option.
Alternative lending is a viable option for your business if you have an immediate need for capital, especially in small amounts. Nontraditional lenders can provide you with fast funding with a short repayment term. If you’re unable to secure a bank loan, there are multiple kinds of alternative business loans you can turn to, such as:
Our team is made up of seasoned professionals who bring years of industry experience to the table. You gain a trusted advisor who understands your business inside out.
Say goodbye to the hassles of hiring, training and managing in-house finance teams. You will never have to worry about unexpected leave of absence or retraining new employees.
Whether you’re a small business or a global powerhouse, our solutions scale with your needs. We eliminate inefficiencies, reduce costs and help you focus on growing your business.
Tax season often triggers stress and complexity—especially for startups laser-focused on building products, acquiring customers, and scaling operations. Yet savvy...
The halfway mark of any given year is more than just a date on the calendar; it’s a valuable checkpoint...
For consumer goods companies, managing inventory efficiently is critical—not just for operations but also for financial health and risk management....
As more businesses transition to Software-as-a-Service (SaaS) solutions, data security and regulatory compliance have become top priorities. From handling sensitive...
For portfolio companies, whether backed by private equity, venture capital, or family offices, scalability is essential for maximizing value and...
Insights from a Consumer Goods Expert: Building Brands, Inventory Management, and the Power of Outsourcing In a recent conversation with...
Private equity deals are becoming larger and more complex, making financial preparation a critical part of the process. Take Novartis’s...
Biotech startups operate in a unique financial landscape, where securing grants, venture capital, and government funding is crucial for driving...
As the world leans into the decentralized era, Web3 startups are at the forefront, exploring the possibilities of blockchain, cryptocurrencies,...