A rejection for a loan by a bank or the government is by no means the end of the road for a business looking to expand. The end is when the owner completely stops evaluating their options and working around the inevitable obstacles of entrepreneurship.
Even a decade after the 2008 financial crisis, small to large businesses with a personal credit or business credit score below 700 still have a hard time getting commercial loans in 2018. This is a counterintuitive practice that hinders companies in need of extra funds to get to their profitable end goal. In order to make more money with an outdoor seating expansion, a restaurant would need funding up front to build the new area. And yet, if this restaurant is not a shining star on paper, it will likely be rejected by the banks.
At FundKite, we understand that you’re more than just a number, unlike the commercial loan establishments. That’s why our funding specialists look at the performance and potential of a business instead of just your credit score. Because of this convenience and simplicity, business owners are increasingly turning to alternative lending sources to obtain working capital, and grow their businesses.
Click here to apply for funding with FundKite!