Small business owners looking for fast working capital may want to consider 1West Finance. The lending marketplace offers various small business loan options through its network of lenders.
Merchant cash advances are gaining popularity with small business owners because they have loose eligibility requirements and provide immediate working capital. There are many merchant cash advance providers, and 1st Merchant Funding has been at it since 2007.
However, the funder might not be the right fit for every small business owner.
Merchant cash advances (MCAs) are gaining popularity because they’re easy to obtain and provide quick funding. As a result, many MCA funders, like Accord Business Funding (ABF), are available.
However, merchants cannot apply directly to the funder. Its product is only available through its network of Independent Sales Organizations (ISOs). Small business owners interested in an ABF MCA can try contacting the company for a list of partners. You can also work with a merchant cash advance provider that accepts direct applications.
Tech giant Amazon has recently expanded its massive product offerings to include Amazon Lending for third-party sellers that use the eCommerce platform. The invite-only small business lending program could help some sellers grow and expand their Amazon business.
Businesses that sell on credit sometimes experience a cash flow gap when waiting on customer payment. Cash flow is the lifeblood of a business, and interruptions can derail operations.
Some small business owners turn to invoice factoring to convert unpaid invoices into immediate working capital. AmeriFactors is an invoice factoring company with over three decades of experience in providing fast cash flow.
Acquiring needed equipment is often one of the most essential but costly expenses for businesses. Companies like Amur Equipment Finance seek to help businesses get the necessary equipment on credit.
The company offers an Equipment Finance Agreement and several lease options. However, it might not be the right fit for every small business equipment need. Amounts only go up to $350k, and it doesn’t publish interest rate ranges.
Biz2Credit is an online lending marketplace offering small business owners a quick application and fast funding. The company was established in 2007 and has since facilitated over $7 billion in funding to over 200,000 small businesses.
The lending marketplace provides loans ranging from $25k – $6 million. Its loan offerings primarily focus on short-term financing, as the maximum term is 36 months. Biz2Credit offers four loan products…
Few online business lenders are as highly regarded as Bluevine. If you were to research BlueVine’s products, you’d quickly be greeted by a plethora of glowing reviews, and for a good reason. For starters, Bluevine offers virtually all of the advantages you’d expect from a reputable online lender. Their products are easily accessible for younger, smaller businesses as well as applicants with subpar personal credit.
Small businesses often need funding help to scale and grow. But traditional lenders like commercial banks have strict qualifications and take a long time to fund.
Fintech lenders like Backd offer an alternative to traditional financing. Business owners can access working capital at much lower qualifications within a few business days.
However, Backd might not be the right fit for every small business. While its borrowing amounts are high, it only offers two funding products.
Lending marketplaces like BoeFly try to solve that challenge by connecting borrowers directly to the lenders that best match their needs. But it might not be the right fit for every business or funding need.
Small businesses are often recommended to cover certain operational expenses with business credit cards. But not everyone can qualify for the most advantageous options. And when you carry a balance month-to-month, it’s very easy to accrue a dangerous amount of debt unknowingly. Entrepreneurs who are facing these circumstances might consider a charge card instead.
BusinessLoans.com is a lending marketplace that helps ease the process by matching you with loan providers in its network. You only have to complete the simple online application, and you can receive multiple funding options from lenders that want to work with your business.
However, the fintech platform isn’t the right fit for every business funding need. It lacks transparency on costs, isn’t a direct funder, and can it take up to a week to receive the funds.
CapFront is best suited for small businesses that need fast funding but can’t qualify for traditional business loans. The company offers a comprehensive suite of funding options. It’s also geared towards business owners who want an ongoing relationship with a business loan broker and want to learn more about business financing.
The dual-track funding option is an excellent fit for businesses that need immediate bridge funding but ultimately want to secure lower-cost long-term financing. The lower approval requirements mean credit-challenged business owners and newer companies can likely find funding options.
CAN Capital is a small business financing company in operation since 1998. It was one of the pioneers in the alternative business lending space and one of the first to offer merchant cash advances.
CIT Group, Inc. is one of the nation’s leading commercial lenders and an option for business owners seeking a traditional banking experience.
As a commercial finance company and a division of one of the biggest banks in America, CIT offers several advantages, such as multiple lending products, competitive rates, and integrated banking services. However, working with a large company could lose some of the personal touches you get with alternative lenders and brokerages.
Lending marketplaces like Clarify Capital aim to help small business owners successfully navigate various alternative lending options. Instead of taking the time to fill out applications with each and every lender, you can complete a single application, and the marketplace helps match you with lenders in its network.
The company’s team of funding advisors works to help you get the lowest rates from its partner lenders. However, the alternative lending facilitator might not be suitable for every small business owner.
Clearco (formerly Clearbanc) is one of the newest and fastest-growing players in the business financing game. Founded in 2015, this Toronto-based startup has financed thousands of companies, including mattress manufacturer Leesa Sleep, fashion-rental service Le Tote, and home goods supplier Public Goods.
Commercial Fleet Financing is an online lender that helps businesses get the vehicle(s) they need with equipment financing when they don’t have the capital to buy them outright. This review provides the ultimate guide to what you need to know about Commercial Fleet Financing to decide if the lender is right for your equipment financing needs.
Business owners can apply to Credibly with a minimum credit score as low as 500. If approved, you can receive funds within two business days – and same-day funding could be possible if everything goes right.
Many lenders provide equipment financing. But traditional lenders like banks and credit unions have strict requirements and take a long time to approve and fund loan requests.
Alternative lenders like Crest Capital aim to help you get the equipment you need faster without all the hassles of a bank loan. However, the lender might not be suitable for every small business.
Small businesses with low credit scores or less than a year in business often struggle to find financing. Companies like Everest Business Funding seek to solve this problem with a merchant cash advance.
Elevation Capital is an online lender specializing in alternative options like merchant cash advances, accounts receivable financing, and purchase order financing.
However, the business cash advance provider might not be the right fit for every company. The borrowing options can carry higher costs, and you need high annual revenue to qualify.
Small business loan marketplaces like Fast Capital 360 can help connect business owners struggling to find funding to lenders who can meet their needs. You can complete a single application and receive multiple loan offers.
However, the lending facilitator might not be the right choice for every business. The costs can run high, and you don’t have as much control over which products are available.
Finance Factory is an online lending marketplace that provides startup funding and consultancy services. It can help small business owners and aspiring entrepreneurs find the best options to start or grow their companies.
However, you might pay more to use the service as it charges a high origination fee. Even so, the cost might be worth it if you need funding and are unsure where to start.
Financial Pacific Leasing Inc. from Umpqua Bank offers equipment leasing and financing to small businesses. They specialize in financing agreements for equipment up to $150,000.
Forward Financing is a Boston-based lending company that provides financing to small businesses nationwide. The fintech company uses a revenue-based financing model to fund businesses that might not qualify for traditional loans.
Many small businesses struggle to find funding when they’re younger or have low business credit scores. Forward Financing seeks to solve these challenges with an underwriting process that bases approval on a company’s revenue and cash flow.
Fundbox has an excellent online reputation. This is particularly true for their customer service. Fundbox’s line of credit or a Fundbox term loan can help businesses in need of immediate funding. The application process is easy and streamlined. Once funding is approved, you can usually add funds to your business checking account within 1-2 days, and sometimes you can get funding by the next business day.
The UK-based lending platform Funding Circle is a world leader in business financing. The fintech company enjoys an excellent online reputation centered around its dedicated customer service and the ease of the application process.
Small business owners can apply for Funding Circle financing in about six minutes or less. The company also connects investors and lending institutions to small businesses needing financing through its lending-as-a-service platform.
Merchant cash advances provide accessible and fast funding to small businesses. Deciding on the right merchant cash advance company can be challenging, though.
Fundkite is one option to consider as it provides advances up to $2 million. However, the funder might not be the right fit for every small business owner.
Businesses that sell on credit and invoice customers often have to wait 30 days or longer before getting paid. That delay in funding can cause significant cash flow interruptions if business expenses accrue before payment.
Many small businesses turn to invoice funding options when faced with that dilemma. FundThrough is an online invoice funder that provides a quick and convenient sign-up process and fast funding time.
Fundwise is unique because it offers a credit counseling service and provides startup funding.
However, the company won’t be the right fit for every business. The costs can run high, especially with the fees the service charges. It also has a high credit score requirement and long funding times for an alternative lending platform.
Good Funding is a financing company specializing in helping businesses secure working capital with alternative financing.
Despite being a newer company in the industry, Good Funding is building a solid online reputation. However, you should be cautious when working with any merchant cash provider since this form of financing can be expensive.
Small business owners needing working capital that can’t qualify at commercial banks often turn to alternative business loan options. The alternative lending platform GoKapital offers one of the industry’s highest business loan approval rates – 95%.
Alternative lenders, like Greenbox Capital, aim to help businesses get funding when banks say no. The lender provides a quick and easy application with funding possible within 24 hours on some products.
Some lending options provide a niche focus, while others cast a wide net. GUD Capital is the latter, as it facilitates everything from small non-loan funding options like merchant cash advances for $5k to multi-million-dollar bank loans to enterprise-level businesses.
However, the lending marketplace might not be the right fit for every small business owner. The number of options, lack of transparency, and costs could be an issue for some.
Thanks to companies like Headway Capital, younger businesses can access business lines of credit with bad credit with rocky cash flow. Unlike more traditional options, Headway Capital caters to less established companies and offers multiple repayment methods.
As a newer player in the world of online business financing, Idea Financial has built a solid reputation for fast funding at reasonable rates and providing personalized business advice. The lender is more selective than most, but for those who qualify, Idea is an excellent option for a line of credit and short-term loans.
Businesses affected by the Covid-19 pandemic can still file for the Employee Retention Tax Credit. The little-known program can provide up to $26,000 per employee for wages paid in 2020 and 2021.
Many business owners are still unaware of the program or if they’re eligible to claim the credit. Tax specialist companies like Innovation Refunds help businesses determine eligibility and apply to the IRS.
However, Innovation Refunds might not be the right fit for all small businesses. It charges a hefty fee, only works with enterprises that meet a minimum number of employees, and doesn’t offer an ERC advance. This review can help you decide if Innovation Refunds is right for your ERC filing needs.
Small businesses that need quick funding and can’t qualify for small business loans from banks often turn to alternative lenders. IOU Financial is a paperless, alternative lender with a low credit score requirement, same-day decisions, and funding within 24 hours of approval.
However, all lenders have their benefits and drawbacks. With IOU, you’ll get higher interest rates and fees than many conventional lenders. In addition, you can’t apply directly to the lender currently. You must work with an independent reseller that partners with the lender to apply for its small business loans.
In online business lending, few companies have grown as dramatically as Kabbage. Much of Kabbage’s success can be attributed to its underwriting requirements and various features that stand apart from its massive competition.
It’s safe to say that Kabbage created a business model that appeals to businesses looking for a unique yet sensible funding solution. That business model also appealed to investors as American Express acquired Kabbage in 2020.
Small business owners who need quick funding for business loans might be interested in Kapitus. The lender offers a fast approval process, quick funding, and a wide range of financing products.
Small business owners have many financing options, including traditional and alternative lenders. While online lenders provide speed and convenience, some businesses prefer the traditional experience of a brick-and-mortar bank.
KeyBank is one of the largest in the US, providing a robust small business lending program. It is also an SBA-preferred lender.
However, the bank might not be a suitable lender for every small business. It provides very little information on funding times, eligibility, and costs.
Key Equipment Finance, backed by KeyBank, provides various flexible financing options for essential business equipment. However, the company might not be right for every small business.
It doesn’t provide an online application or publish interest rates or fees. This review can help you decide if Key is suitable for your equipment financing needs by covering the benefits, drawbacks, and application process.
Lendistry is an excellent option for small businesses in underserved areas that need business funding. Its qualifications are more stringent than most online lenders, but the costs are low if you qualify.
Lending marketplaces like Lendio reduce the time and stress of finding lenders by matching your application with its lender partners. It offers many lending options with different qualifications through its network of 75+ lenders.
However, the costs could run high depending on the Lendio business loan and lender.
LendingPoint is an online lender specializing in personal loans with lower qualifications than banks and much faster funding times. In addition, the online lender recently added some small business point-of-sale partnerships for companies to offer their customers term loans to pay for goods and services.
However, the online lender won’t work for every business or startup need. We can help you decide if LendingPoint’s options could work for your startup or sales process by covering the benefits, drawbacks, and application process.
Small business loan marketplaces like LendingTree help connect companies to multiple lending offers from a vast lending network. Business owners of all credit scores, industries, and time in business can apply to the lender network.
The number of traditional and alternative lenders available today makes it difficult for small businesses to locate the best options for their needs and qualifications. You can visit a local bank or apply to one of the many online funders.
Services like Lendza aim to reduce the guesswork and time-consuming research of finding a funder. Business owners can apply to the service once, and it tries to pair you with the best lender for your needs.
However, Lendza might not be suitable for every small business. Some business owners prefer working with a direct funder. Others might want a full-fledged marketplace that provides additional services.
Libertas Funding is an online financial services enterprise that funds merchant cash advances (called “revenue-based financing”) and facilitates business term loans.
However, the company is not a good fit for every small business. Its high credit score, time in operation, and revenue requirements are geared more toward medium-sized companies.
Lightspeed Capital is best suited for qualified Lightspeed Payments customers who need fast working capital. It doesn’t require a credit score check or collateral, so it’s also a good fit for credit-challenged business owners without high-value assets.
Established businesses with excellent credit, high revenue, and assets to pledge as collateral can find more advantageous and less costly business loans. However, it provides fast funding, and the open-ended term is attractive.
The Holy Trinity of payment processors is PayPal, Square, and Stripe. As of September 2019, all three offer their own business financing services. The last to join the club was Stripe, and it’s easy to see why they waited so long. Compared to PayPal Working Capital and Square Capital, Stripe Capital is designed for a more specific customer type.
Marlin Capital Solutions (now PEAC Solutions) is a nationwide financing provider for business equipment and working capital. Like any lender, the company has its upsides and downsides.
Small business owners have many lending options, from large commercial banks to small alternative lenders. Mulligan Funding is the latter, but the family-owned company provides up to $2 million in business funding.
The online lending company focuses on delivering outstanding customer service and developing lasting relationships through its renewal program. However, it might not be suitable for every small business, especially since it lacks transparency on costs.
One of the top lenders for large borrowing amounts is Newtek Small Business Finance. Newtek provides SBA loans, term loans, and business lines of credit. The business solutions company also offers HR management services, IT services, and more.
North Mill Equipment Finance is a national lender that offers equipment loans and leases. It brings several decades of industry experience and offers specialized programs.
However, businesses cannot apply directly to the company. It exclusively works with a network of third-party referral agents who bring deals to the lender.
The need for fast cash is often so great in small businesses that they forget it can come with a hefty price tag. This is evident in the success of business lenders that revolve around the ability to approve and distribute small business loans in 24-48 hours. Many of these lenders promise fast cash with little requirements, an offer so tempting that borrowers don’t bother thinking about how the financing terms will impact cash flow.
Certain eCommerce companies rely on marketplaces like Amazon to do business. Unfortunately, marketplace platforms sometimes take several days, weeks, or months to release a seller’s payout.
That’s where Payability comes in. The online financing company seeks to help small business entrepreneurs solve cash flow issues in the eCommerce space. Payability doesn’t consider your credit score or run a credit check when approving applications.
Despite the abundance of glowing reviews, PayPal’s working capital program is far from perfect. Many successful business owners have been denied funding for reasons that have nothing to do with revenue, cash flow, or general financial standing. Various forums are chock full of posts from dumbfounded or frustrated business owners who carefully read the program’s rules for eligibility yet still failed to obtain funding, possibly because of their industry’s very nature.
Many small business owners don’t have the credit score or business history to qualify for traditional loans with banks and credit unions. Alternative lenders like Pearl Capital offer to help underserved merchants access funding.
However, alternative lenders financing high-risk business owners tend to be more expensive. You must also work with a third party to apply to Pearl Capital.
Rapid Finance offers a diverse line of small business loans. Few small business lenders can boast Rapid Finance’s quick funding time. As the name says, the company specializes in rapid financing programs.
Small business owners have many options for financing, but SBA loans remain the gold standard. The drawback to SBA loans is that most lenders have strict qualifications, and getting your funds takes weeks or months.
Some lenders, like Ready Capital, can help expedite the process as an SBA-preferred lender. The company also offers USDA B&I loans. However, it might not be the right fit for every small business.
Reliant Funding is a lending institution specializing in merchant cash advances for small and medium-sized businesses. Like most alternative lenders, the company offers an easy online application and faster funding than traditional lenders.
Riviera Finance is an established financing company specializing in invoice factoring for small businesses. The company purchases outstanding invoices from your clients so you can turn your accounts receivable into instant working capital to maintain cash flow.
Seek Business Capital, or Seek Capital, is a lending referral service designed to help you obtain funding that meets your needs and qualifications. The service enables you to secure working capital to grow and support your business.
The referral service differs from many online lending options because it is not a lender or lending marketing place. It does help you connect to multiple lenders, though.
Small business owners seeking up to $250,000 in working capital or $1 million in equipment financing may be interested in Select Funding. The online lender only requires a credit score of 500 and specializes in fast funding.
However, the funder might not be the right option for every business. It doesn’t provide much detail on costs, but online reviews suggest the rates are high.
Shield Funding provides multiple small business loans, from short-term to SBA loans. Business owners can find funding for almost any business need with different options.
Shopify Capital is the small business financing arm of the highly popular eCommerce platform Shopify Inc. Small business owners using the platform might qualify for a Shopify loan or merchant cash advance. Applications are invite-only, meaning the company will message you when your business is eligible.
SnapCap is an alternative online lender offering short-term financing to small business owners. They specialize in expediting the business loan process. From their streamlined application process to fast funding time, the company aims to bring you working capital in a snap.
Small businesses often need financing help at some point. But most traditional lenders like banks and credit unions have stringent qualifications and rigid repayment structures.
Some alternative lenders, like SOS Capital, provide quick funding, flexible terms, and accessible qualifications. However, the online lender might not be the right choice for every small business.
Square, a point-of-sale payment service like PayPal or Stripe, offers small business loans to merchants with a Square account. At first, Square Capital’s product might not seem unique. But when you look further into the requirements and repayment structure, it’s not difficult to see why Square Loans have grown so significantly over the several years.
StreetShares connects business owners to financing programs to help their companies grow. The lending platform began as a financing solution for veterans-owned businesses but expanded to include financing for all small businesses.
The Holy Trinity of payment processors is PayPal, Square, and Stripe. As of September 2019, all three offer their own business financing services. The last to join the club was Stripe, and it’s easy to see why they waited so long. Compared to PayPal Working Capital and Square Capital, Stripe Capital is designed for a more specific customer type.
Swish Funding is best suited for small business owners needing urgent funding and help to find the right lender. The connection service sends your information to its lender network to match your qualifications to their underwriting requirements.
The drawback is that you won’t know what type of loan(s) you’ll get until you apply and receive offers. It also provides no information on costs, terms, or renewals.
The one thing that most equipment has in common is a hefty price tag. Equipment financing is one of the most needed forms of small business loans since so few companies have the cash reserves to purchase these pieces outright.
Lenders like Taycor Financial offer various equipment leasing and financing options. It also provides a variety of business loans to help you meet working capital needs.
Small business owners considering a merchant cash advance might be interested in The Fundworks. It provides a quick and easy application with funding available the day after approval.
Modern small business owners have many options for online lenders, and today we’re discussing Torro Funding. The alternative lender provides a convenient application process with a fast turnaround on approval and funding.
Torro’s specialization in startup financing is one thing that sets it apart. Many financial companies don’t lend to startups because it’s an unproven business.
However, the funding company might not be the best option for every small business owner or aspiring entrepreneur. Some of its limitations include high fees and low borrowing amounts.
The problem is that many commercial banks focus on enterprise-level financing for large corporations. Truist Bank is one exception because it offers traditional financing options for small businesses.
However, the traditional lender might not be the right fit for every business. We can help you decide if Truist meets your financing needs by covering the pros, cons and how to apply.
Uplyft Capital is an online lender specializing in merchant cash advances to serve the small business community. The company can also help connect customers to other small business loans through its third-party lenders.
Uplyft offers same-day approvals with funding available in 1-2 business days. The company’s merchant cash advance product is a viable option for small businesses with less than stellar credit that need fast funding.
The digital revolution of the last thirty years has significantly changed the world of business financing. The emergence of financial technology (fintech) powered online lenders provides small business owners with an ever-growing pool of funding options.
While that helps provide businesses with funding options for every situation, navigating the available lenders can be tedious, time-consuming, and frustrating. Lending marketplaces and brokerages like UpCrunch seek to solve the problem by matching you with the lenders that best suit your funding needs.
However, the company might not be suitable for every small business. It doesn’t provide information on costs, and its bespoke funding options require a high-touch approach. Some business owners might prefer more upfront information in a self-service model.
Financial technology (fintech) solutions are powering a new generation of alternative online business funders. One of the latest funding platforms available is Upwise Capital.
The company offers many of the benefits of alternative lending. These include quick applications and approvals, fast funding, and bad credit business loans. The lending platform also provides a robust suite of cannabis lending products.
However, it might not be suitable for every small business. It’s less proven than some of its competitors.
Online lenders like US Business Funding are often willing to work with business owners when the banks say no. The company has an approval rate of over 90% for its small business loan products. It provides equipment financing, working capital loans, and SBA loan options.
However, it might not be the right fit for every company. Most of its products require two years in business. Some customers have also mentioned high interest rates and additional fees. Are those extra costs potentially worth it if you can get approved?
Wells Fargo is one of the US’s largest and most recognizable banks. The traditional financial institution is mainly known for consumer and commercial banking services but also offers some small business financing.
The emergence of financial technology (fintech) has powered a new generation of online business lenders. Companies like World Business Lenders (WBL) provide convenient online applications with fast funding times.
Many online lenders like WBL offer funding to business owners who can’t qualify for traditional financing. However, the online lender isn’t the best fit for every small business as it has limited products, strict collateral requirements, and high costs.
Small business owners who can’t secure financing from traditional lenders or who can’t wait that long often turn to alternative funding options like Zinch. The online lender offers flexible funding programs with fast turnaround.
However, determining the best alternative lending options can be challenging. We can help you decide if Zinch is the best option for your business funding needs by covering the benefits, drawbacks, and application process.
If your small business accepts American Express credit cards and performs consistent debit and credit transactions, American Express Merchant Financing seems like a very sensible funding source.
Balboa Capital is one of the longest-tenured alternative business lenders with a track record since the 80s. They specialize in equipment financing, lines of credit, and short-term loans.
Use our simple online application to submit a request for business funding. If you need any help along the way, just give us a call, chat or email.
An expert, knowledgeable account executive will walk you through all the fine details and the requirements. This is to ensure you have all the info you need.
Once your funding has been approved & closed, the lender sends the funds to your account so you can start using it to grow your business.
