When you are a business owner-or an aspiring business owner- you have a few options on where to go for the funds when you need to secure a loan or line of credit:
Option #1: The Mob. Oh, you’ll get the loan all right….Just say good bye to your fingers if you don’t pay it back.
Option #2: The Big Bank. If you’re not rich you won’t even get a foot in the door. Nowadays even child support and alimony payments is a credit factor.
Option #3: Predator corporations. The interest rates on these loans will eat your profit gained & spit it out like watermelon seeds.
Option #4: Credit Unions. Are you a member? Yes? Then let’s talk. If not, then walk.
Option #5: Banking Tech Startups. Some interesting websites are out there. It’s a welcome alternative to big banks, but being new and without longevity and a proven track record, a definite roll of the dice.
Option #6: Brokerage houses. A lot of websites act as brokerage houses. A brokerage house is different from an unbiased search engine like Banklovesme.com. They get referral fees when you end up going for a loan, so keep this in mind when you’re shopping around.
Option #7: Small Banks. Great news: we do a shocking amount of Lending to business owners. And depending on which one of us you choose, we offer fair interest rates. We’re all listed here at banksloveme.com.