Changes are inevitable and bring great opportunities for individuals and businesses. Businesses no longer must struggle with lack of access to capital. Previously, the only option was the traditional banks, means a lot of formalities, wasting all day and sometimes struggling with loan application rejection. This would waste their talents and the expansion of the business even after having great skills and experience.
Today, entrepreneurs are truly imaginative, creative and working on their own on unique ideas, but have limited access to capital. Recent studies suggest approximately three-quarters of small business owners seek small loans to start, run, or grow their businesses. Luckily, businesses get the best financing options online that provide cash instantly to implementideas and further growth. Gone are the days of waiting weeks for a bank loan.
A great economic impact on lending has been seen over the last decade. As per the data collected from the research and analysis in 2015-2017, a revolution in online lending has begun. The revolution has changed the business landscape dramatically offering funding options and small business expansion as follows:
-Great funding options with $10 billion to approx 180,000 small businesses
-Expansion of wages and jobs by online lenders
-Sales of small business borrowers increased from $1.05 to $2.84
-The additional sales of the small businesses in turn generated $37.7 billion in gross output and created 358,911 jobs with $12.6 billion wages in the local economies of small business borrowers.
Thanks to great funding options today’s entrepreneurs are able to retain cash on hand and finance new stock during peak production season, purchase new equipment or hire a pool of talent to improve efficiency.
Small businesses and funding options
Working capital is a major area of running any operation, especially for small business owners and there are more funding options today that fit with small business. Thanks to Knight Capital Funding which is a well-establishedfunding company, small business working capital is easy to obtain. Small businesses are known as the backbone of the U.S economy accounting for more than 99% of the US firms and employing over half of all workers. These businesses are responsible for new job creation for Americans and they grow with support and financial backingin part from funds fromonline lenders.
Online Lending To Maintain Business Momentum
There is no time like the present.Online lending should be taken into consideration as it is enough to fill the financing gap for small businesses. Knight Capital Funding is here to provide the liquidity to small businesses while maintaining their credit score.
Why online lending? It involves several benefits as follows-
-Spend time on your business and forget wasting time in arranging the documents and other paperwork
-Get credit fast or within hours
-Avoid bad credit and get financed
- Automated online loan applications with no intermediaries
-Smaller loans with shorter terms
Economic Benefits
Small businesses are important for the US economy, but these businesses get a lack of access to necessary working capital for business expansion. Small businesses that hit a slump affect the economy and job pools. Consider online lending to speed through cash crunches and support sustainable growth.
