Both new and well-established businesses across the nation could always use extra funding, and the most conventional method for getting that money is through a business loan. However, many local bank offices – and even the national banks, decline most loan applications for many reasons.
For established businesses, the amount requested often exceeds the limits the bank can lend, or the type of loan falls outside of the bank’s operating restrictions. For new businesses and startups, the bank usually declines the loan application due to a lack of established credit history or a track record of revenue.
More than 40% of all business loan applications are rejected, and it can be very frustrating – especially for businesses that need working capital in order to complete projects, to grow, or that need money within a certain time frame. Because of this, many business owners have turned to the world of alternative commercial lending.
Alternative lending allows business owners to get the money they need, without having to wade through the bureaucracy of conventional loan applications only to receive a rejection notice.
Alternative lending is a form of lending created to assist business owners with accessing working capital and different types of business loans for their business. Alternative lending has expanded out from traditional bank loans to more targeted financing solutions from alternative lending institutions. They are designed to meet the specific requests from business owners. This includes equipment leasing, asset-based, merchant cash advances, commercial real estate financing, business lines of credit and so many more.
Our company will be able to offer more solutions than any one bank in the country! Why? Since we represent so many options from a variety of lenders, our company does not have any geographic restrictions, dollar amount restrictions, asset class restrictions or credit restrictions unlike a bank or any particular lender would have.
Take a look at your figures for a mortgage loan:
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