Traditional Bank vs Alternate Lender for Business Financing

There is a saying that banks do not give you money when you need it the most. Bank would be ready to give money who does not need it. Due to stringent requirements many businesses do not get approved to have loans from bank. The alternate lending industry lends money to businesses with marginal credit score and processes approval application very quickly in days or weeks instead of months. Our curated lender databases and matching algorithm can help you with your commercial loan need. For regular grants and government backed funding you have to go to a different page/list.

We work with business owners that are looking for capital to grow their businesses ( as for example to buy equipment, business vehicle etc.). We match them with a network of lenders who have helped over 2,000 companies with over $500 Million dollars in financing.

 If you are worried that you may not meet our lending partners’ requirements, don’t be yet. These alternate lenders have more flexible lending criteria compared to traditional banks.

Pros of Alternative Funding:

* Less paper work/short application

* Speedy decision

* More flexible approval criteria

* Lower credit score is considered

Cons of Alternate Funding:

* Higher interest rate

After borrowing money from alternate lender and using that to increase value of your business ; down the road you may be (depending on your situation) able to refinance with traditional bank for more favorable terms and lower rate.Alternate lenders are meeting your need during the business identity gap when bank would not lend you.

Please do not take any of the statements here word for word or as financial advice. Those are probable ideas. Always use your discretion and assess your situation so that you are not facing penalty due to early refinancing. OrpheusKey is not liable for the choices you make.

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