New Brunswick, NJ – For small-business owners the desirability of a fast, no-collateral, unsecured business loan is obvious. They don’t have to put their personal assets at risk to get a loan or other form of working capital funding. No collateral unsecured loans are particularly desirable especially when partners are involved to help avoid disputes about which party is pledging the personal assets. And for many small business owners, they simply don’t have the personal credit score to satisfy the local banks. So, alternative lending is a rapidly growing source of funding for small businesses and BizCapRX.com is a rapidly growing small business resource for this type of funding, see here: http://bizcaprx.com/
Alternative lenders often base the lending decisions on the strength of a business, annual revenue, operating history and, to a lesser extent, your personal credit score, and at times don’t require collateral. Although business owners likely pay more for this type of loan, the higher approval rates, speed and convenience could make it worth the extra cost for your small business. Alternative finance lenders often offer a number of options for small businesses seeking working capital ranging from typical bank-type loans to factoring scenarios and the relatively new merchant cash advance, also known as a business cash advance.
There are a number of different types of alternative loans for small businesses. One for is called the merchant cash advance, also known as a business cash advance, which is a type of funding that gives business owners an upfront cash infusion, which is repaid from a percentage of daily sales receipts. This usually happens from holding back an agreed upon portion of the businesses daily or monthly credit card receipts or as a direct debit from the merchants bank account based on daily sales. But the bottom line is that businesses pay back loans as a percentage of sales.
Other types of funding include secured business loans, business lines of credit, working capital loans, factoring, equipment leasing loans, and more. Underlying all this funding innovation is the fact that most alternative lenders operate online. Yet, online lending current only accounts for about 3 percent of the approximately $1 trillion of personal and small business loans in the US. But that’s growing as more and more companies attempt to grab a piece of this huge market. The default rate for small businesses with credit under a $1 million stood at 1 percent in 2014 but is seen rising to 1.6 percent in 2015 so with the added flexibility provided by alternative lenders and their somewhat less stringent approval standards comes a higher risk to the lender, someone offset by the increased cost to the borrower.
BizCapRX now offers a small business loans affiliate program, which is a high-paying affiliate program designed to accommodate referral partners as well as online marketers. The BizCapRX Affiliate Program is especially popular among online affiliate marketers, accountants, financial planners and lawyers working on a referral basis and even local financial institutions. More information can be found on the company website.
Business owners seeking small business loans can get more information at http://bizcaprx.com/small-business-loans
BizCapRX.com is an online small business loan conduit platform connecting small business owners with lenders. BizCapRX.com serves small business owners from all 50 states in over 750 industries and is based in New Brunswick, NJ.
BizCapRX.com provides an online small business finance referral-marketing platform affiliated with one or more specialty online alternative financing companies. These companies, and not BizCapRX.com, provide funding to businesses in the form of traditional small business loans, working capital loans, unsecured loans, revenue based loans, factoring as well as other alternative forms of financing as determined and offered by these 3rd party financing companies. BizCapRX.com is not a lender or funder and does not make credit decisions or funding decisions, does not interact with clients, and functions strictly as a marketing referral agent for 3rd party funding companies.