spotloansscom
8 Mars 2021
Business owners have been left scrambling for a way to find a business working capital loan or any type of loan for business. The overall restriction of business and personal lending over the last 3 years has left many businesses, especially retailers and restaurant owners, with a lack of affordable sources for working capital.
Even sources that are still providing loans are often approving up to 80% less applications than previously in a bid to eliminate risk from their outstanding loan portfolios. Into this vacuum, a number of options that are advertising themselves as "working capital" loan providers have entered the marketplace. Some of these make more sense for business owners than others, even if the credit is less than perfect.
Payday or "Fast cash" signature loans - These loans are typically designed as a quick, low loan amount solution to an immediate cash crunch. Normally the loan amounts are here are small, less than $2500, and are very high rate and high fee. These only make sense for a business person in a scenario where time is of the essence. Otherwise, this is some of the least affordable capital out there.
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