Alternative Lending Services
Mortgage Broker / Agent serving Orleans, Ontario
Traditional banks and credit unions are highly risk-averse. Often only people with good credit scores or loan collateral qualify. And, even after getting qualified, one needs to wait up to three months simply for approval. Startup businesses with little collateral can often find themselves facing loan turndowns even when all they require is a quick boost to build their momentum in their market.
This is where alternative lending comes in. Alternative or nontraditional lenders are private firms that work like banks and offer loans to businesses. The distinction is that alternative lenders provide loans quickly and with far greater ease, whereas conventional banks bog applicants down with strict terms and lengthy applications. Alternative lending allows small businesses to get the boost they need without forcing them to meet impossible standards beforehand.
Some benefits of alternative financing
- Easy qualification process: Non-bank lenders can use other information to gauge your reliability and creditworthiness. The system is not as severe as what you find at regular banks.
- Better Loan Terms and Interest Rate: In the competitive world of alternative lending, you can be offered lower interest rates and more profitable loan terms that meet your needs.
- Quicker Approvals: As a startup founder, you don’t need a long, drawn-out approval process. You must get going fast, so choosing an alternative lender is ideal.
How we can help
Whether you’re running a shop or moving goods across the country, TopRankinMortgages  Inc. has the expertise to assist you in getting the funding for your business needs. We’ve delivered to business owners from almost every area with the ideal loans and equipment financing to help grow their businesses. We’ve also put together the essential resources you require to learn more about alternative small business lenders and financing options.