5 Key Advantages of Utilizing Alternative Lending Platforms for Financing

October 22, 2023

By Henry Abenaim, CEO of Fundingo

As the CEO of Fundingo, a leading alternative lending platform, I have witnessed firsthand the transformative power that these platforms can have on businesses seeking financing. In this article, I will share with you five key advantages of utilizing alternative lending platforms for financing and why you should consider exploring this option for your business.

1. Accessibility and Speed

Traditional lending institutions often have lengthy application processes and strict eligibility criteria that can be daunting for small businesses. However, alternative lending platforms like Fundingo provide a more accessible avenue for obtaining financing. With a few simple clicks, you can complete an online application and receive a decision within hours or even minutes in some cases.

At Fundingo, we understand the urgency of business needs. That’s why our streamlined process ensures that you can access funds quickly to seize opportunities or address unforeseen expenses. Visit Fundingo to learn more about setting up a demo and experiencing the speed and convenience firsthand.

2. Flexibility in Loan Options

Unlike traditional lenders who often offer limited loan options, alternative lending platforms provide a wide range of financing solutions tailored to meet the unique needs of businesses. Whether you require short-term working capital, equipment financing, or expansion funding, Fundingo offers various loan products designed to suit different industries and business sizes.

By visiting Fundingo, you can explore our comprehensive suite of loan options and find one that aligns perfectly with your specific requirements.

3. Less Stringent Eligibility Criteria

Securing funding from traditional lenders typically involves meeting stringent eligibility criteria such as high credit scores or extensive collateral requirements. This can be particularly challenging for startups or businesses with less established credit histories.

Alternative lending platforms like Fundingo take a more holistic approach when evaluating loan applications. We consider factors beyond just credit scores, such as your business’s overall health, revenue trends, and future prospects. This allows us to provide financing options to a wider range of businesses that may have been overlooked by traditional lenders.

4. Personalized Customer Support

At Fundingo, we pride ourselves on offering personalized customer support throughout the loan application process and beyond. Unlike traditional lenders where you may feel like just another number, our team is dedicated to understanding your unique needs and guiding you towards the most suitable financing solution.

Our experienced loan advisors are readily available to answer any questions you may have and provide expert advice tailored to your business goals. To experience our exceptional customer support firsthand, visit Fundingo today.

5. Building Credit History

For businesses looking to establish or improve their credit history, alternative lending platforms can be an invaluable resource. By successfully repaying loans obtained through these platforms, you can demonstrate your ability to manage debt responsibly and build a positive credit profile.

Fundingo understands the importance of credit history for businesses. That’s why we report loan repayment information to major credit bureaus, helping you strengthen your creditworthiness over time.

In conclusion, alternative lending platforms offer numerous advantages for businesses seeking financing. From accessibility and speed to flexibility in loan options and personalized customer support, these platforms revolutionize the way businesses secure funding. If you’re interested in exploring this option further, I invite you to visit Fundingo and set up a demo today. Discover how Fundingo can help fuel your business growth with its innovative approach to lending.