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H1 – Best Alternative Small Business Financing and Lending Options For Entrepreneurs
H2 – How Alternative Lending Can Work for You
Trouble getting funding? Nearly every up-and-coming business owner faces a similar problem when it comes to finding business loans: it can be hard to get approved by traditional lenders.
Between credit concerns and lack of collateral, most traditional lenders are wary of lending to growing businesses. An alternative lender is one that provides business loans and financing beyond the traditional forms and can look beyond traditional measurements of success. Alternative business lending makes it easier for growing businesses to get access to the capital they need. At National Funding, we understand your business is much more than a credit score or ‘qualifying metric,’ and we want to help you succeed.
Get Working Capital for Everyday Expenses
-Use loan funds from alternative lenders to pay for vendor invoices and tax bills
-Cover your monthly utilities and rent to keep your business on track
Hire the Staff You Need
-Alternative lending can help you bring in new employees for your busiest season
-Encourage employee growth with training programs and educational resources
Increase Approval Odds
-Alternative small business lenders have higher approval rates
-Increase your chance of approval even with less-than-perfect credit
Quick Decisions and Loan Funding
-No more waiting weeks for a loan approval — alternative lenders provide quick decisions
-Your loan could be funded in as little as 24 hours, depending on approval
-How It Works-
Enter steps here
Step Blurbs – Fast & Easy Application Process
No-cost, no-obligation application with funding in as few as 24 hours1
Step Blurbs – Helpful Loan Guidance
A Funding Specialist will contact you to help you choose the right business financing option.
Step Blurbs – Quick Decision, Fast Funding
You could be approved, and funds deposited into your account, in as little as 24 hours.
H3 – Alternative Business Lending Options We Offer
H2 – BUSINESS FUNDING
-600+ credit score
-$15k/mo avg. sales over the past 6 months
-6 months of bank statements
-Restricted industries vary, apply for details. Real estate and Cannabis are
usually restricted. Try startup funding instead.
H2 – BUSINESS FUNDING PRODUCTS
-Business term loans from 6 months and longer terms
-Business line of credit
-Merchant cash advance which includes daily or weekly payment loans. Credit
can be as low as 500 but monthly business revenue must be $15k=/mo avg.
-Up to $500k
Alternative lending is much more flexible than bank lending. As alternative lending is done by private companies, it’s easier to apply and get approval, and qualifications like minimum credit score are far less strict. There are also more options when alternative lenders are providing the loan. Get to know a little more about some of the alternative loans we offer at National Funding.
Small Business Loans
Term loans are the most popular alternative loan. Similar to a traditional bank loan, they usually involve a large sum paid back with interest over time. We recommend these loans to businesses that need to make major purchases. Sometimes that means equipment for a specific business, sometimes it’s a building renovation. Whatever the major purchase, alternative lending can help.
Business Lines of Credit
Our lines of credit work just as you might expect. With this alternative lending option, businesses receive a set amount of money that is available as often as it is paid back. These types of loans are great for small businesses that want help with cash flow. When it comes to paying vendors or employees, this alternative business funding option can be extremely useful. It also provides small businesses the opportunity to increase their credit score as they receive funding.
Merchant Cash Advances
The merchant cash advance option involves an advance loan paid back with a percentage of daily credit card transactions. As with other types of lending, this option gives growing businesses the cash they need to keep their business growing.
Equipment leasing can allow for greater flexibility, but when business equipment has a long lifespan and could be useful as a long-term asset, it makes sense to invest and purchase that equipment. Equipment financing helps business owners do just that.
If you still aren’t sure what type of alternative lending option will be best for you, don’t worry. Our Funding Specialists can help you pinpoint the perfect solution for you and your business. As long as you need the flexibility and freedom that an alternative loan can provide, you know enough to apply.