By now most industry followers understand that peer to peer lending, or peer to business as it may be, is a great way to raise capital for your business. Rates can be competitive versus banks. Many businesses end up using credit cards to help pay the way but we all know the excessive rates most credit card companies charge. But if you are determined to go to the bank to inquire be prepared for an almost inevitable “no thanks” as they show you the door. Because only about 1 in 5 small businesses are able to get a loan from their local bank. So perhaps the first stop should be your local P2B lender, something you can do sitting at your desk with the answer measured in days instead of weeks (or months).
InvestNextDoor has put together a decent list of their Top 10 Reasons why small businesses should go this route. Check out their infographic below.
