By: Matthew Gillman, SMB Compass Founder
When in need of financing, many small business owners would prefer to apply for loans from traditional lenders such as banks or credit unions. However, getting loan approvals from banks can be challenging, particularly for small companies. They are often not considered due to their lack of financial history or low credit scores.
If you need to access capital as soon as possible, your best option is to borrow from alternative lenders. But you have to remember that not all lenders have the same credentials, and not many of them are legitimate.