The lure of “Fast Money” and “Quick
Cash” for your business is hard to ignore; thousands of ads and offers bombard
small businesses everyday via: direct mail, calls, emails, pop-ups and radio.
Advertisements from alternative lenders provide an enticing promise and give
hope to the many Small Business Owners that can’t access financing from
traditional banking institutions. These are business owners in need of the
working capital and equipment funding necessary to maintain and/or grow their
business, and this funding is an appealing offer when it seems there is nowhere
else to turn.
Unfortunately, one very important
question often goes unasked by Small Business Owners that I speak with: The 3
points below explain why this question SO important to understand for any business
owner making a financial decision.
1) There is money to be made by selling loans to Small Business
Owners
2) The length of time
between the loan offer and the transfer of funds to the borrower is extremely
fast
3) All traditional banks, for the most part, underwrite loans in
a similar manner.
via:lendspark.com
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