How to Access 75+ Lenders With One Small Business Loan Application
Let’s face it: no business owner has hours on end to spend filing one small business loan application after the other— especially with the growth gears in motion and a company to build.
Ideally, the business loan process should be as fast, convenient, and simple as possible from start to finish. At the end of the day, the entire goal of receiving business financing is to grow your business.
But if you don’t put in the work by submitting multiple business loan applications, then you’re limited to one option.
Alternative lenders like National Business Capital & Services have changed the game by allowing you to access potential deals from over 75 lenders, with only one small business loan application!
Your Business is Growing (And You Probably Have Less Time Than Ever)
It might not be surprising to learn that small business owners are some of the hardest workers out there. According to Forbes, almost 30% work over 50 hours per week, and 86% are burning the weekend oil.
And when business is moving along well, it can be a lot more hectic.
If you’re spending your time hiring new employees and reworking new procedures, then you don’t have time to spend filling out multiple business loan applications.
As the business owner, it’s your responsibility to focus on growth. Rather than filing applications, think about how to get the resources that your company needs, including the right talent, the best equipment, ideal locations, and of course, capital.
The Old Way: One Application at a Time
In the old days, finding the best deal on a business loan was nearly impossible.
Banks were the primary lender out there, unless you were well-networked with direct lender connections.
To learn about the options that you qualified for, you had to fill out a complete business loan application. This requires a lot more than just your financials— it includes your business plan, and much more.
After completing the application, there was no choice but to play the waiting game.
Banks can take weeks or months to fully process, review and either approve or reject the application. More often than not, businesses that could be considered risky from any angle were denied.
Applying to multiple banks to increase your chances wasn’t exactly an option, either— doing so could trigger multiple credit pulls, affecting your credit score.
But with alternative lending, the application process has evolved, creating a more engaging, reassuring and overall helpful experience for customers.
From Here On Out, It’s Easier: How Alternative Lending Works
The rise of alternative lending as a legitimate solution in the small business world has expedited the process quite a bit!
With an attentive and detail-oriented team actively working to get you funded, alternative lending can cut out weeks or months of uncertain waiting. You can learn which options you qualify for minutes after completing a small business loan application, and start growing your business in days, rather than months down the line!
At National Business Capital & Services, we work with a network of the nation’s best lenders to ensure full transparency. Through this extensive network, we can also offer several unique options, which we’ll dive into later on.
National’s Application Process: Speed, Simplicity, Innovation (And Satisfaction!)
Our process is designed to make the borrowing process as simple as possible, minimizing delays to get your business funded right away.
Step One: Fill Out A 60-Second Application
First, you’ll apply for your business loan. The small business loan application can be completed online— you won’t have to print or mail anything!
While our applications won’t require extensive financial documents, you can submit minimal documents (like bank statements) online when necessary.
Step Two: Speak With a Business Financing Advisor
Next, a Business Financing Advisor will contact you to learn about your goals in greater detail. Based on what you’re hoping to accomplish with your new funding, they can push you toward the appropriate program.
Some of National’s most popular programs include:
- Small business loans: Borrow based on terms that work for your business to grow quickly and easily
- Lines of credit: Draw from a reservoir of funding as you gradually identify new needs down the line, and withdraw more funding as you repay it!
- Equipment financing: Get funding for new equipment in any industry, with the equipment itself functioning as the collateral. Through our new eQuickment Financing Product, you can get approvals in 1 hour and funding in less than 48!
- SBA loans: Access the lowest rates and longest terms around by qualifying for an SBA loan. National’s Hybridge® SBA Loan allows you to get the low-rate SBA financing you need in a few short weeks, and a short-term bridge loan to help you get started right away.
Filling out one small business loan application opens the door for all of the above financing programs— and more! Depending on your unique needs, a Business Financing Advisor can help you to qualify for other programs.
Step Three: Learn About Your Business Financing Options
After learning more about your company’s needs, your Business Financing Advisor will find the best options available in our network of lenders. Rather than running a credit inquiry that impacts your credit score, they’ll do a soft pull, which won’t show up on your credit history.
Then, they’ll circle back with the best financing offers available to your business so that you can choose the best option!
The best part: if you’re unsatisfied with one aspect of the offer, your Business Financing Advisor has the freedom to alter the term, length or amount to fit your needs.
Settle on the best option for your business, and the funds will be deposited in your account in less than two days!
Apply for Alternative Financing With National
Why play the waiting game when you don’t have to?
With National’s expedited process, you can qualify for financing in minutes, and get back to what matters most: your business.
The digital application only takes 60 seconds to complete, and your Business Financing Advisor will guide you through the whole process.
National Business Capital & Services is the #1 FinTech marketplace offering small business financing and services. Harnessing the power of smart technology and even smarter people, we’ve streamlined the approval process to secure over $1 billion in financing for small business owners to date.
Our expert Business Financing Advisors work within our 75+ Lender Marketplace in real time to give you easy access to the best low-interest SBA loans, short and long-term loans and business lines of credit, as well as a full suite of revenue-driving business services.
We strengthen local communities one small business loan at a time.
For every deal we fund, we donate 10 meals to Feeding America!