Applying for a Traditional Loan can be like Watching Paint Dry!
We are NOT a traditional loan company. As many of you may know the 2008 recession sent banks into a crisis state. The government bailed out many of the large ones, and then implemented stricter lending rules in an effort to protect us from future financial bubbles. Our economy has bounced back since that time, however it’s harder to get a loan from a traditional bank because of these new regulations.
The traditional lending procedure is typically one such as this:
- It takes an average of 30 hours to apply with a traditional bank type lender
- Small businesses who manage to get approved wait up to 3 months to find out, imagine getting rejected after three months of waiting?
- Traditional lenders reject 80% of small business owner loan proposals
- After approval with a traditional lender, it takes 90 days to get your funds.
Looking for a Bank to loan you and getting a fast approval is just not what we can look forward to. Small businesses need more! They need a loan company that is with them every step of the way, three months can mean the difference between a small business succeeding or failing…why wait there is GROW!