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.
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.
Fundr is an alternative financing company that connects small businesses with capital through revenue based financing. Headquartered in New York, the platform markets itself as a fast and accessible business funding option for business owners who need quick access to working capital but may not qualify for traditional loans.
Fundr specializes in providing revenue-based financing to small business owners throughout the U.S. This type of product typically ties repayment to a percentage of future sales, making it more flexible than a fixed monthly business loan.
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.
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%.
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.
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.
Guidant Financial is a business financing facilitator and a provider of small business services. Its focus is on helping entrepreneurs start, buy, or grow businesses through a mix of traditional and non-traditional financing options. The company’s offerings are especially popular with startups and franchise owners who often face hurdles securing funds through banks alone.
The company’s core offerings include ROBS, SBA loans, unsecured loans, and equipment financing. Guidant Financial operates its services across all 50 states in the United States. It is essential to consult with professionals to understand state-specific regulations and compliance requirements when utilizing Guidant Financial’s services.
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.
Skip is a comprehensive platform designed to help entrepreneurs and small business owners find business funding and growth opportunities. Serving as a marketplace, Skip connects users with a wide range of funding options, including grants, loans, and other financing opportunities available in the United States. By becoming a Skip member, you gain access to an extensive database of funding sources and expert insights and tips to expedite the funding application process.
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.
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.
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.
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.
Lendesca is a financial technology company dedicated to helping small businesses and self-employed individuals secure funding through tax credits and loans. The platform understands the unique financial needs of its target audience and offers specialized loan solutions designed to address those challenges.
With Lendesca, business owners can access capital quickly, providing the crucial financial support needed to manage expenses, invest in growth, or recover from setbacks. Whether it’s funds for equipment, working capital, or acquisitions, Lendesca’s tailored approach aims to empower business growth and financial stability.
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.
