Small Business Lending Innovators

FitSmallBusiness Get Your Business Into Shape .com Small Business Lending Innovators As banks loan less to small businesses, others are filling the gap. Is small business bank lending in decline? The percentage of total bank business loans that go to small businesses has steadily declined, from over 50% in 1995 to under 30% in 2012(1) The Aggregators These firms help identify and connect firms with both traditional and nontraditional lenders. Biz2Credit lendio How good is a 700 personal credit score? The majority of the adult US population has a credit score above 700, but only 18% have credit scores above 800. (2) Credit Score Monitors A good personal and business credit score is key to getting loans. Credit OKarma creditera How Big Is The Bank Of Mom & Dad? Friends and family members provide financing for about 36% of new companies. Typically, family and friends provide about $23,000 in funds. (3) %24 Family & Friend Loans These firms provide legal documents and help keep track of payments minimizing family friction. TrustLeaf ZimpleMoney Friends and Family Lending Made Easy Are there better alternatives to using credit cards for personal loans? When comparing rates on P2P loans to credit cards for similar credit score borrowers, the 3 year P2P loans offered 2% lower rates. (4) Personal Loans For Business Purposes These P2P companies enable you to borrow based on your personal credit.friction. PROSPER LendingClub How big is the eBay? In 2013, eBay marketplaces had $30.4 billion in gross in the United States. (5) Short-term Financing For Online Merchants These firms give credit primarily based on your history selling online sites, like EBay and Etsy. S Kabbage PayPal |Working Capital How long does it take average invoice to get paid? In 2012, private companies received invoices 29.2 days after issuing an invoice. (6) Invoice Factoring Get cash right away based on outstanding invoices or receivables, primarily for B2B companies. OBlueVine FUNDBOX How much alternative business lending is happening? OnDeck, a pioneer in short-term business loans, crossed the $1 billion dollar mark in March 2014. (7) Short-Term Working Capital Financing Short-term loans for typically less than two years for established businesses. OnDeck> xDealstruck Medium Term Loans For Small Business Loans from 2 to 5 years with a fixed interest rate. Funding Circle FUNDATION Better for business, better for investors, better all round SBA Guaranteed Loans The loans government guaranteed loans offer super-low interest rates. smartbiz 1) clevelandfed.org - Why Small Business Lending Isn't What It Used to Be 2) creditcardforum.com - What Is A Perfect Credit Score In 2013? 3) smallbusiness.yahoo.com - Where Startup Funding Really Comes From 4) fitsmallbusiness.com - Can A P2P Loan Provide Funding For Your Business? 5) businesswire.com - eBay Inc. Reports Fourth Quarter and Full Year 2013 Results 6) online.wsj.com - Small Firms' Big Customers Are Slow to Pay 7) blog.ondeckcapital.com - OnDeck Crosses the $1 Billion Mark FitSmallBusiness Follow us: f Get Your Business Into Shape .com