The short answer to this question is a resounding “yes!” The benefits of business loans far outweigh the benefits of bank loans, and with Smart Business Funding, the benefits are even more apparent and positive than you thought possible. Here are our top reasons why a business loan from Smart Business Funding really is better than a bank loan.
Easier to Attain
Banks are notorious for denying loans to individuals and business with exceptional financial history. At Smart Business Funding, we require only basic financial information, such as bank statements and credit card records, and we will never ask for more information than we need. Our approval ratings are significantly higher than those of most banks, and our requirements for attaining a business loan are far less strict.
Since we require less paperwork and our business loans are easier to attain, the whole process is much faster. Generally speaking, you can have cash within just a few days of submitting your application, if not sooner.
No Restrictions on Use of Funds
We know that all businesses have different needs, and there are many different reasons why a company may apply for a business loan. Because of that, we put no restrictions on how you use the funding you receive from us. It’s your decision as to how it’s spent, whether to pay for unexpected expenses, expand your business, hire more employees, or improve a cash flow issue.
Since we offer merchant cash advances and business cash advances rather than standard bank loans, our repayment is far simpler than what you would expect from a bank. Instead of having monthly payments based solely on the amount you borrowed, we will purchase a percentage of your monthly sales for a set period of time. Each day, we will automatically take our portion of your sales and put it towards repaying your business loan. That way, your funds are never overstretched and you’re never stressed about meeting deadlines.
Relationships & Partnership Opportunities
Banks are focused on money; Smart Business Funding is focused on people and your success. When you receive a business loan from us, it’s more than just a borrower-lender relationship. Our company is made up of financial service experts who want to help you and your business succeed, so we create actual relationships with you and strive to assist you in any way we can. Additionally, our interactions can create partnership opportunities that are unlike anything that comes out of your contact with a bank.