According to The Fundera Ledger, about two-thirds of business survive 2 years in business, half of all businesses will survive 5 years, and one-third will survive 10. These are very daunting statistics. Often times, it is a business owners access to additional funds that can make the difference between surviving, thriving, or closing their doors.
Fortunately, there are a few alternative lending companies that have started and offer loans to businesses outside of the traditional bank options. One of those alternative lending options that i would like to feature today is 5Linx Capital. This company has been finding loans for business owners who meet certain qualifying conditions. One of those conditions is that a company make at least $10,000 per month in revenue. Your credit score is looked at, but does not play such a significant role as when applying for traditional loans.
You can learn more about 5Linx Capital by visiting their website.
5 Linx Capital is just one of the new companies that offer alternative business loans to established businesses. In future posts I will explore more alternative lending sources and feature companies that give loans to startups as well as established businesses.
Until then. Stay positive and keep growing.