Los préstamos no bancarios se han convertido en una alternativa que ha aumentado en popularidad para los prestatarios que han sido rechazados para un préstamo bancario o que no tienen el tiempo para pasar por un proceso prolongado de solicitud de aprobación. Una nueva generación de préstamos exclusivamente en el “mercado de préstamos online” está diseñada para atraer a los propietarios de negocios que tienen un puntaje de crédito más bajo o que llevan poco tiempo en el negocio. Estos préstamos tienden a tener tasas de interés más altas que los préstamos del banco o los préstamos de la SBA, y a tener requisitos de puntaje de crédito más relajados. Típicamente, estos préstamos son de 1 – 5 años y vienen con un pago mensual fijo. Los préstamos en el mercado online pueden usarse para virtualmente cualquier necesidad del negocio y son fáciles de encontrar en el internet.
- Rápido plazo de procesamiento (en comparación con los bancos)
- Requiere menos esfuerzo y documentación
- Pagos mensuales fijos y previsibles
- Ayudan a mejorar el puntaje de crédito comercial (con pagos a tiempo)
- Disponibles para muchos usos
- Tasas de interés más altas que las de los préstamos bancarios
- Escasa o ninguna orientación
- Pueden incluir una penalización por pago anticipado
- Pueden requerir garantía
- Típicamente requieren dos años de historial comercial
Throughout Women’s History Month, we celebrate the economic, social and political contributions that women make to our world. Women account for roughly half of the American workforce, attain higher levels of education than men and are an increasing share of primary or solo breadwinners. There is no doubt that for America to thrive, we must promote the economic empowerment of women. Central to women’s economic success is women’s entrepreneurship, which contributes significantly to overall economic growth and prosperity.
Non-bank loans have become an increasingly popular alternative for borrowers who have been denied a loan by the bank, or don’t have the time to go through a lengthy application process. A new generation of online-only “marketplace loans” is designed to appeal to business owners who have lower credit scores, or who have been in business for a short time. These loans tend to have much higher interest rates than bank or SBA loans, and to have more lax credit score criteria. Typically, these loans are for 1 – 5 years and come with a fixed monthly payment. Online marketplace loans can be used for virtually any business need.
- Quick turnaround time (compared to banks)
- Less effort and documentation needed
- Fixed, predictable monthly payments
- Helps improve business credit score (with on-time payments)
- Available for many uses
- Higher interest rates than bank loans
- Little to no mentorship
- May have pre-payment penalty
- May require collateral
- Typically requires two years of business history
Building a successful business is no easy feat and many owners learn what works by trial and error. That’s why we’ve rounded up some of the best financing lessons learned from the small business owners we talked to this year.
7 Signs That You Shouldn’t Sign (or E-sign) on the Dotted Line
As with almost every aspect of our lives these days, the internet has made it easier, faster, and more convenient than ever for small business owners to gain access to financing, submit business loan applications, and get cash in hand to pursue their goals. Even so, when it comes to something as important as financing your small business, the easy, fast, convenient way won't necessarily give you the best results.
Imagine starting your new business and going online to take out a loan. You find what you think is an attractive yearly rate of 9 percent. You think you are set until — after you sign — you are shocked to realize it’s 9 percent per month.
These kinds of soul-crushing predatory loans can put you out of business, sometimes before you’ve even started. Millennials, in particular, can be susceptible, as they are most likely to go online to search for a loan.
Optimism seems to be abound, economically at least, with a businessman heading for the White House. The Dow has risen and, despite vocal opposition from opponents on many of his decisions, President-elect Trump has been announcing job creation measures even before he has taken the oath of office. For Wall St. and Main St., exciting things are happening. Banks and FinTech companies are using technological advances to improve access to capital, which is the lifeblood for small business growth. These developments bode well for small businesses in search of capital in 2017.
As a New Year approaches, fair lending will be the priority for the nation’s consumer financial cop on the beat. Mortgage and student loan servicing along with redlining and small business lending will be a triple-focus in 2017 for the Consumer Financial Protection Bureau (CFPB).