When you need to secure funding for your small business, obtaining a loan from a bank is not your only option. Online lenders provide a variety of features and loan terms to suit the needs of any small business. This includes flexible repayment options as well as a simple application process.
Flexible Repayment Options and Loan Amounts
Banks often have set terms and conditions for their loan application process that make it difficult for small businesses to get the funding they need. With a bank, you may not borrow less than $50,000 and the repayment terms are typically non-negotiable.
A small business should have the flexibility to borrow the amount they require to fund their operation or expansion. Through an online lender, you get to decide on the type of loan and the amount you require. Loan options range from $1,000 fast business loans to $1,000,000 equity loans.
With an online lender, businesses also have flexible options for repayment. Banks use large fixed payments with significant interest rates for long-term loans. Online lenders work with small businesses to create a repayment agreement that fits their budgets and timelines.
Simple and Quick Loan Application Process
The application process for loans from online lenders is streamlined for your convenience. For example, Max Funding Fast Business Loans can provide a decision on your application within five minutes.
Applications are started online and without any obligation. You first receive a pre-approval within several minutes before creating a personalised repayment plan. In many cases, the funds are transferred within the same day.
After you agree to the terms of the loan and receive your funding, you can access your account online. Through an online portal, you can view your total balance, make payments, and check your remaining line of credit.
Custom Funding Solutions for Small Businesses
Online lenders provide an efficient solution for small businesses that need additional funds. Every step of the process helps simplify the way business owners secure funding for their ventures.
There are many reasons for requiring more capital for your business. You may need to expand your current location. When you outgrow your current space, moving to a larger location requires funds.
You may also need to purchase more equipment for your business or grow your inventory to meet the anticipated demands of your customers. Whether you need to establish a line of credit or require funding for a specific goal, online lenders develop custom solutions for each type of borrower.
Getting pre-approved for a loan can help you determine if these are realistic options for your business. The process is easy and should only take a few minutes of your time. Apply for a loan through an online lender for convenient funding solutions for your small business.