When applying for a small business loan you have to fill out a few different forms so the possible lender can evaluate the risk in approving you for a loan. On these forms you have to fill out information such as your name, birth date, business name, and then a few financial details about you and your business. Trusting someone with all this information is no joke. You want to make sure that the business you are entrusting this information too is reliable! Here are a few tips and signs so that you know which potential business lender is legitimate and the right one for what you need.
Tip #1: How are you supposed to differentiate between the right business lender for you among the many business lenders advertising their services?
One thing that should be important is having the business lender be an amicable person who you trust. Believe in your gut, it will be the first indicator about whether you think a potential dealer is good or bad. See that he or she has the time and patience to explain to you the different options available. You might be thinking that Credit Card Factoring is what you need when in reality a Merchant Cash Advance is better.
This leads us to Tip #2:
Make sure that the business lender you are meeting with has more than one option available. Do they offer more than just Credit Card Factoring or just Merchant Cash Advance, or do they offer you both of these options? Being able to explain to you more than one route in getting your business financed is an important step in choosing the right business lender.
Tip #3 has to do with the amount of years they have been working. A good business lender has the experience necessary to work with every type of client in almost every situation. Having a couple of years experience is important when it comes to any profession, and when the profession includes having information on many of you assets you want to make sure he or she knows what needs to be done.
Business Credit and Capital has all of the above. Feel free to check us out online or give us a call. We are here to help make your business prosper!