Scottsdale, Arizona (PRWEB) December 23, 2014
BusinessLoansToday.com announces the launch of their new online alternative lending company. The company’s mission is to provide working capital to small and medium sized businesses that are turned away from traditional banks.
Since the financial crisis of 2008, studies have shown it to be ever more difficult for small businesses to gain access to working capital. The big banks are denying smaller loans, due to increased risk and higher underwriting costs. These banks aren’t loaning lower than one or two million dollars, believing it isn’t worth the time and effort.
Smaller banks are being consolidated into larger banks and traditional funding options are no longer available. BusinessLoansToday.com was created to service small to medium sized businesses in new alternative funding options. The company’s mission is to provide quick and easy access to working capital.
Blue Global Media, an Innovative Internet marketing pioneer, and three-time winner of the INC 500’s fastest growing companies, has created this product to capitalize on this fast growing marketplace for alternative lending.
“We are thrilled with the release of our new product BusinessLoansToday.com, we have already helped thousands of businesses owners connect with the financing they need to help develop and grow their companies, said Blue Global CEO and Founder Chris Kay.
“Big Banks are quickly losing out on solid opportunities, but at BusinessLoansToday.com but we look forward to continuing to assist small businesses obtain the capital they need to grow, create jobs and realize their dreams.”
According to reporting in recent articles written by Karen Mills, former head of the Small Business Administration and Senior Fellow at the Harvard Business School and Harvard Kennedy School of Government, it was revealed that “…access to bank credit for small businesses was in steady decline prior to the crisis, was hit hard during the crisis, and has continued to decline...”
Included in the article, reporting from The Federal Deposit Insurance Corp. concluding that “commercial loans of less than $1 million (usually made up of small businesses) are down about 20% than they were prior to the recession, bank’s total commercial loan balances have continued to grow…”
“New online marketplaces are disrupting the traditional market for small business loans. New tech‐based alternative lenders are providing easy to use online applications, rapid loan decisioning, and a greater emphasis on customer service. Many are developing data‐driven algorithms to more accurately screen creditworthy borrowers.” Mills explains in her article.
BusinessLoansToday.com is not only a direct lender but also provides access to hundreds of financial partners to make sure their consumers are provided with the appropriate working capital they need, unique to their business, quickly and without all of the hassle and wait of traditional banks.
Blue Global Media, LLC
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