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If you’re looking for quick and easy business loans, then it’s important to look at online lenders. Their streamlined digital processes make them a much simpler and hassle-free option compared to big banks. The latter also has much lower loan approval rates than alternative lenders – just 26.5% compared with 56.6% in 2018. On top of limited approvals, their application processes are usually more complicated and cumbersome. This can be hugely frustrating for small business owners who put a lot of time and effort into applying, only to be rejected.

So, what are your options if you want to make the process easier? What qualities should you look for in lending companies if you want a smoother ride? In this article, we summarize the key features that separate easy business loans from more complex ones.

What Makes Business Loans Easy?

Advances in digital technology mean that it’s easier than ever for business owners to secure funding. There’s a wider choice of financing options and funding partners to choose from, so you’re no longer tied to the big banks. This means that you can benefit from more competitive rates, less stringent minimum requirements, and a faster online application process too. If you’re looking for easy business loans, then online lenders should be your first port of call. Their business financing solutions include a range of features that make them easier to apply for and secure.

Fast to Obtain

Online lenders utilize the latest digital processes to screen and process applications. This enables them to cut out many of the time-consuming and labor-intensive steps that traditional banks still follow. By leveraging the newest digital technologies, they can give you a decision quickly and then transfer the funds almost immediately. At Strategic Capital, we can often tell you whether you’ve been approved the same business day and give you quick access to funds in less than a week. Because traditional banks rely on outdated processes, most can’t even give you a decision in that time frame. But online lenders can get you funding quickly so that you can start putting it to good use straight away.

Simple to Apply For

Applying for small business loans can be hard going. The process has a bad reputation, with long application forms and mountains of paperwork to submit. But in the modern era of online lenders, this is no longer the case. The application forms are online and streamlined so that they are quicker and easier to complete. Lenders can now check much of your background info (like credit score and repayment history) online so there’s less supporting evidence needed. You can often tell easy business loans apart from more complicated ones by the initial form that you’re asked to complete. This will give you a good indication of whether the business funding process is going to be simple or a headache.

Affordable Short-Term and Long-Term

Simplicity isn’t the only factor to look for in easy business loans. The affordability of the funding is crucial to whether you’ll be able to pay it back easily or end up being charged with additional fees. Comparing the interest rate, repayment terms, and total amount you’ll be paying is the best way to identify a good deal. As a small business owner, it’s also important to read any fine print or terms and conditions to see if there are hidden charges. Modern lending companies tend to take an up-front approach to funding and will be open about all of the costs involved. Our interest rates on short term loans are some of the most competitive in the industry and start at 5.49%.

More Than a Number

A lender’s attitude and approach to servicing its customers is something that can’t be underestimated. When financial institutions make decisions that are purely based on numbers, they fail to see the big picture. Looking at a business in these black and white terms doesn’t allow them to see beyond the paperwork. We prefer to consider each business on its individual merits as this helps us to see opportunities for growth and investment. By looking at each customer individually, we can also advise them on the best funding options for their situation. It may be that invoice financing, a line of credit, or business credit card would be more appropriate, so get in touch if you’re unsure.

Funding Flexibility

Working with a flexible partner makes the entire funding process a lot easier. It allows you to have more freedom over your repayment schedule, such as whether you prefer weekly or monthly payments. Having more flexibility also means that you can choose the loan terms that fit your business needs, whether that’s a 12-month, 2-year, or 5-year duration. Investments in business can sometimes take a while to generate a return so this allows you to structure a funding solution that meets your unique requirements. And if things take off faster than expected, then you have the ability to repay the loan sooner.

Peace of Mind

When it comes to personal data and financial information, security is always a top priority. By choosing a lender who places a high value on your information, you can enjoy peace of mind and avoid unnecessary worries. We use Secure Socket Layer (SSL) encryption to transmit data so that your information is fully protected. For both large and small loan amounts, we take the security of our customer information extremely seriously and are always taking steps to protect them from fraudsters.

Finding Hassle-Free Business Loans

Securing a business loan doesn’t have to be complicated or time-consuming. By working with a lender who makes the process simple, you can save yourself the hassle and spend more time on important business activities. Finding easy business loans is a case of looking for these key features when you consider different options. Are they fast to obtain and easy to apply for? Will they be affordable, both in the short term and a few months or years down the line? Will the lender consider your business on its individual merits and be flexible enough to meet your needs? By choosing a lender that fits these criteria, you’ll have the best chance of securing an easy and hassle-free business loan.

Easy Business Loans for Small Companies

Strategic Capital provides business finance to a wide range of organizations across the USA. Whether it’s to pay for your everyday costs, emergency repairs to equipment, or investing in expansion, we offer small business finance solutions without the hassle of traditional banks. Our services include small business loans, SBA loans, equipment financing, invoice factoring, and merchant cash advances. Best of all, you’ll benefit from competitive terms and a simple application process, so you’ll soon have more money to reinvest into your business.

Transparency, innovation, and expertise are the driving factors behind everything we do. With a talented team of advisors, a plethora of funding partners, and the best technology available – we go above and beyond to help our clients receive their capital rapidly with the industry’s most competitive repayment options and interest rates. We want to break speed records, not bank accounts. Upon submitting your loan application, it’s reviewed by a dedicated Capital Advisor. We generate the best rates and terms at lightning speed through our funding matrix and robust lender network. Yep… it’s that simple. Learn more about easy online application process business finance services here.

– Bradley Keys

Checking for pre-approval will not affect your credit score.