Since the financial meltdown of the Great Recession, many small business owners have had a hard time acquiring funds to achieve their long-term goals.
Your company needs financing, but research and due diligence puts your personal information at risk. The more options you consider, the more vulnerable you become. All lenders want to run your credit and access your personal information. Do not let them. Let Mayava find you the best rate available, safely and quickly without putting you and your company at risk.
The big banks made it very difficult for the everyday business owner to flourish. With a nearly impossible approval process that made small business borrowers jump through hoops just to get loans with astronomically sky-high interest rates, the average owners looking for funding found themselves between a rock and a hard place.
How would they keep their doors open if they couldn’t get their loans approved?
That’s where alternative, online lenders came into play.
Acquiring loans online may have seemed risky at first.
Was online lending legal? Was it safe? Was it trustworthy?
But now that Fundera, Lending Tree and OnDeck, to name a few, have become household names in the online lending world, the prospects are brighter than ever for the small business owner.
Finally! An approval process that works in their favor.
Where once small business owners were shunned by the big banks based on the status of their personal credit scores, having alternative lenders online gave these borrowers much more flexibility. These new players in the game could consider the actual health of their business itself rather than making their lending decisions based solely upon the borrower’s credit scores.
Online lenders knew the hardships that small business owners faced. They knew what these borrowers went through to climb out of debt, and they knew that there was more to their companies that just a credit score.
Online lenders were actually looking to help small businesses become successful again. And they got them going again.
Alternative lending involves several key terms: peer-to-peer lending, marketplace lending, direct loans, alternative finance, business loan consolidation, merchant cash advance, and factoring. All of these pieces are part of the online loan pie. Put them together, and small businesses and borrowers are finally given the ability to do what they do best: thrive.
With the assistance of online lenders, small businesses around the world are getting the break—and the capital—that they richly deserve. It’s about time.