Start Building Business Credit
With a New Year just around the corner this is a time for small business owners to benchmark overall performance and set plans for moving forward in the year 2016.
In a lot of ways this was a year of innovation, change, and efficiency in small business lending. Although big banks have loosened their belts and started lending again; their focus still remains on issuing large loans to big businesses.
Since applying for a loan or line of credit with a bank requires a small business owner to produce a plethora of documentation such as financials, personal tax returns, business tax returns, etc.; alternative lending and non-traditional lines of credit have become a much more viable and attractive option for small business owners.
I’m sure you’ve seen the rise of online business lending platforms pop up over the internet this year alone. Online platform such as Kabbage are working hard to fill the void in the marketplace for quick and easy business loans online. There is no question the demand for fast, cost-effective, go-to funding sources for small business owners will continue to grow in the upcoming year.
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