5-Apr

4 Most Popular Alt-Lending Options In 2021

2021 has started with a rebounding economy, and we all hope that the year will stay on an upward trajectory to compensate for the disruptions of 2020. Small businesses will now have a chance to make up for the losses of the black swan year and move into profitability. However, you have to be well prepared to really make the most of the opportunities coming your way! You must do an in-depth market analysis, make a detailed plan with a timebound roadmap and Get Going.

Naturally, pushing your plan from paper and into the real world will require some capital and alternative lending companies like ours are a good place to get the needed rocket fuel to launch your business plan.

Here are some of the most useful alt-finance options for 2021 –

  • Business Line of Credit

For SMEs who see a clear need for credit, in the long run, we recommend business LoCs. A Business Line of Credit works almost exactly like a credit card – your business is approved for credit up to a certain limit, and you can withdraw whatever amount you need up to this limit as and when you need it. You only get charged when you use the credit and only for the amount you withdraw. As soon as you repay the money, your limit is topped up again.

(Great for ongoing operational expenses)

  • Invoice factoring

For businesses waiting on their customers to clear their dues, invoice factoring is an excellent option to lay hands on liquid cash immediately. You convert your invoices into cash by selling them to an alt-lender. They advance you the money (minus a fee) and take the payment from your clients directly.

(Good solution for manufacturers or wholesalers who have institutional customers with extended payment timelines)

  • Cash Advance

A quick fix solution for businesses who need small to medium-sized amounts on the double. From paying the electricity bill to spending on a big digital media campaign, a merchant cash advance can be used by business owners for anything and everything. They are easy to get approval for and usually take just a couple of days to process.

(For businesses with bad credit scores, merchant cash advances are a good way to get fast and easy credit)

  • Equipment Financing

Whether you are a manufacturer, a medical practitioner, or a restaurant owner who wants to bring in new equipment to increase service offerings or to expand to new locations, equipment financing via an alternative financing company is a simple (and affordable) way to fund the next phase of your business growth. Alt-lenders like us help with financing or leasing of expensive equipment pieces via special credit offers.

(A must for any business that requires expensive machinery or equipment to expand their services)

If one of the options mentioned above seems like a good fit for your business’s credit needs, then do call us on 877-573-6677 to know more details. The Money Matters Now fund managers deal with hundreds of clients, and we can help you find the best financing solution for your business.

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