The Online Marketplace for Business Lending
Updated: Feb 12
Giving small business owners complete control over their funding options
Ever have nightmares about the lengthy process of applying and waiting weeks to get a loan from your bank?
First, you jump through bureaucratic hoops to complete the application. Then wait weeks for an answer, which is usually a denial. And on top of losing precious time and gaining a few new gray hairs, your credit score suffers, too.
‘Frustrating’ is a big understatement! Fortunately for you, digital technology has changed all of that. But, not all online business funding solutions are made equal.
Discover what sets the LoanGuru online business lending marketplace experience apart from the crowd, and how it’ll help you get the financing your business deserves.
What is an online business lending marketplace?
Let’s break down the term so you can get a firmer grasp on what it really means.
'Online business lending’ is the practice of lenders providing funds to businesses through a digital loan application process. In fact, over the past two years alone, the number of loan applicants who applied through online lenders rose by 13% (while applications to other loan providers such as banks and credit unions remained relatively steady).
There are several reasons why small business owners choose to go with online lenders, including:
Faster response times
Complete control over the lender and loan type go with
Higher chances of getting funded
No collateral required to qualify (for certain loan types, like unsecured business loans)
Where does the ‘marketplace’ part fit in?
Even though online lending is faster, it still takes time out of operating the business in order to fill an application. And, you may choose to apply with several individual lenders simultaneously in order to increase your chances.
LoanGuru lending marketplace brings dozens of the nation’s top lenders into one network where they compete to give you, the business owner, the best loan offer possible. This has several benefits, including saving you tons of time filling out so many applications, and bringing the best deals to you instead of having you search for a needle in the haystack.
If you have any questions or queries. Click on the button below.