Many small business owners leverage the equity in their family home to finance their business requirements but there are now more options available for small business owners in the competitive marketplace.
Often, these small businesses are declined by their lenders when they approach them for a business loan. Additionally, the extended time and resoruces taken to secure finance often places the SME in a position to instead seek a rapid finance arrangement for their requirements.
Over the past few years there has been a sizeable growth in the non-bank lenders (known as Fintech lenders) who provide funds for small businesses.
Most Fintech lenders provide funding within a 2 to 3 day turnaround and this funding can range from $25,000 to $250,000 without the need for cumbersome financial data normally requested by major lenders.
Some requirements for funding include day-to-day business operations, paying tax and covering staff costs etc.
Contact Paul today if you or your SME is keen to explore this type of business cash flow lending.