Small businesses are the backbone of today’s economy. They provide the products and services that offer diverse, democratic options to their community members.
Yet since the global financial meltdown, many small businesses continue to struggle.
Small businesses in need of capital are often stuck between a rock and a hard place. With banking becoming an increasingly restrictive environment, small businesses find themselves in an impossible position: in order to qualify for a business loan, they need to show significant capital. If they had that capital, they wouldn’t need a loan in the first place.
This quandary has led to an influx of alternative lenders who are able to navigate the lending world easier than the banking industry. However, it can be difficult to discern a reputable alternative lender from a not-so-reputable lender.