Commercial Lending Insights
Navigating the world of commercial lending can often feel like the Wild West—full of potential but also the risk of encountering some unsavory characters. While I’ve established a trusted partnership, I realize it’s wise not to rely on just one source (unless it’s a genuinely reliable one).
Could anyone share their recommendations for reputable funders or lenders for term loans, SBAs, MCAs, and similar options?
One response
Navigating the world of commercial lending can definitely feel chaotic at times! It’s great that you’ve found a partner you trust; having that relationship is invaluable. While it’s wise to diversify your funding sources, here are a few reputable lenders and platforms you might consider for term loans, SBAs, and MCAs:
SBA Lenders: Consider local banks that are SBA-approved, as they often have dedicated teams for these types of loans. Credit unions can also be a good option.
Online Lenders: Platforms like Kabbage, OnDeck, and Lendio are popular for their quick application processes and various funding options, including MCAs.
Community Development Financial Institutions (CDFIs): These organizations focus on lending to underserved markets and can be a good source for small businesses.
Alternative Financing: Look into companies like Fundbox or BlueVine, which offer invoice financing and lines of credit tailored for small businesses.
Peer-to-Peer Lending: Consider platforms like Funding Circle or Prosper for access to business loans funded by individual investors.
Local Economic Development Agencies: Sometimes they have funds available for small businesses, especially for growth or expansion.
Remember to review the terms and fees, and consider seeking advice from a financial advisor to ensure you’re making the best decision for your situation. Good luck!