Broad and exuberant claims should be a big red flag in this day and age. Anyone promising a $100,000 prize for being the millionth visitor should best be ignored. Internet lending is an exemplary alternative to the traditional big bank system. But, it has caught a rather nasty stigma. Is the stigma for Small Business Financing in Miami FL fair, and why is it there in the first place?
The problem with online lending in general is the ease of getting into it and the lack of transparency involved. In essence, an online lender never actually has to show up in person. He or she can offer a service through the veil of the web. This has brought forth a lot of unprepared professionals and sneaky behaviors. An online or alternative lender that is transparent should be revered. A company like 1st Atlantic Funding is the exception to the rule with their transparency. The company is trying to go against what is considered normal by being upfront. They are working like a big bank, but not offering the restrictions and high obstacles the big banks have in place.
Big banks are flawed in that they are often too big to want to offer much assistance to small customers. They will prioritize the big borrowers- the major clients that keep them moving forward. But, there rates and terms are usually more relaxed compared to online Small Business Financing in Miami FL. The reason is that they are seeking a different market. Online providers usually cater to individuals with high credit. The interest rates are appropriately higher. Online providers can offer speed. For example, 1st Atlantic Funding can have the funds for a business available in a few days after an application is approved. The website even advertises next-day availability. The interest rates will be comparatively high to a big bank. But, big banks will run lenders through a vigorous vetting process- a process that most people will never make it through.
Now, just because a lender can get approval through an online provider, it doesn’t mean they should. A good idea takes precedent. Lenders should have their creative and practical goals lined up prior to receiving Small Business Financing in Miami FL.
Visit http://www.1atlanticfunding.com/ for more information.