In addition to conventional lenders, such as the banks noted above, many small business owners are applying with online nonbank lenders.
These lenders are able to offer alternative funding products, such as merchant cash advances, that don’t have the restrictive qualifications seen with many bank loans. They’re also quick to fund, thanks to electronic underwriting and typically no need for specific collateral.
Because more entrepreneurs qualify for alternative financing, lenders offset their risk with shorter repayment terms, higher interest rates and more frequent payments. In contrast, if you have good credit, collateral to offer and time on your side, you may prefer a conventional business loan.
Applying for Vermont Business Financing Through Fast Capital 360
If you’d like to apply for Vermont SBA loans or another type of financing, we can help.
Our online lending marketplace offers these benefits:
A few minutes is all it takes to complete our simple, secure online application (which doesn’t impact your credit).
We work with lending partners throughout the country to make sure we’re able to offer a wide variety of business owners access to funding. What’s more, your single application could return several offers.
A Fast Capital 360 Business Advisor will be in touch to go over your offers with you. Review the details and choose the best option for your business.