Tue, 10 Dec 2019

MSMEs Continue to Thrive in the Alternative Lending Sector

by Crest Hill Capital LLC Reviews

MSMEs Continue to Thrive in the Alternative Lending Sector

Time and again, the alternative lending industry has proved to be resilient and robust. Economists are clear about the positive impact of alternative financial services on the health of medium and small enterprises, even when traditional banks seemed to have restricted themselves. This robustness has made alternative lending one of the top favorites among entrepreneurs and small business owners. But why and how? Let's delve.

Higher Approval Rates

Crain's Cleveland's report, back in 2013, created huge waves by highlighting the declining trend of traditional bank lending for small businesses, among other financing options. The trend has continued since then, and the primary reason cited is the higher approval rates.

When you are a businessman, running a medium or small business, grabbing the right opportunity at the right time matters more than anything. There is no luxury of trial and error, or let's wait it out. A business owner, when faced with the right opportunity for expansion, would need financing promptly.

The long, arduous approval process of traditional banks proves to be the most significant deterrent in these cases. The speed and the ease, with which alternative lenders like Cresthill Capital and Mantis Funding operate, prove to be more beneficial for expansion growth-seeking startups.


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