Small Business funding is constantly changing. New laws are passed, businesses change their practices, and entrepreneurs continue to open up mom-and-pop shops each day. How will these businesses finance themselves in 2023? Are there new methods? What’s the best product for your business? REIL is here to inform you of the options small businesses have regarding new financing trends.
The Bank
Some entrepreneurs rely on traditional bank loans. Local banks frequently look to deliver funding. However, their process can be much longer and more grueling than other lending alternatives. While they tend to have low-interest rates, the qualifications to receive a loan are very strict. Small Businesses must have great credit, good payment history, and a positive cash flow that gives good promise banks will be paid their loans back.
Therefore, a traditional bank loan is good for a business that has everything together. But what about those that don’t? There are many businesses out there seeking a different route. So, are there other options? Fortunately, there are different financing trends to follow and get solutions!
Online Lending
Alternative lenders have recently risen in popularity. Many small businesses struggle to maintain a great credit score and meet the unruly qualifications banks expect of them. Online lenders embrace the idea that small businesses aren’t perfect and strive to provide funding to help them get there. The process for receiving funding from an online lender is quite simple. Submit an online application providing your business’s name, general income, the amount of funding you are looking for, and other information. Specifically, at REIL, our representatives will reach out to you as soon as possible letting you know the condition of your file. In every case and scenario, we will try to get you funding! We are aware of what additional funds can do for a business, and by being an online lender try to make the process smooth and simple.
Products Offered by REIL Capital
If your business is looking for an online lender, look no further than REIL! Here are some of the services and products we offer:
- SBA Express Loans
- Term Loans
- Revolving Line of Credit
- Merchant Cash Advance
- Invoice Financing
- Equipment Financing
- Asset Based Lending
- Fix and Flip Funding
- Business Credit Cards
- USDA Business and Industry Loans
- Business Debt Consolidation
Check out our website for a detailed description of each product/service. Then, speak with a representative to find out which funding source is best for your business! REIL is looking forward to helping your business grow and prosper!
