Top B2B Lending and Borrowing Apps That You Should Know About
As plenty of peer to peer lending companies come forward in the lending market, there is a huge rush of alternatives for business to business lending as well. Unlike the traditional lenders, these B2B lending companies are targeting all small, medium and large businesses to cater to their needs of managing a smooth cashflow prominently, making the most of their finances and tapping the right resources for the organization.
Everyone knows about a traditional bank loan, but staying aware of the alternative lending industry as well helps. These lending companies offer great opportunities to partner with intermediaries and provide competitive rates and ease of terms to the businesses.
The following are some of the top B2B lending companies that can help you grow your business by improving cash flow:
Bringing the traditional factoring method, BlueVine helps businesses get financing through a line of credit or tapping into the invoice directly within 1 business day. The interest rates are also feasible, it ranges from 0.4% a week to 1 % a week.
C2FO is one such lending platform, which is accessible to buyers of invoices and suppliers of goods. C2FO has transformed the lending landscape and created a marketplace that brings different businesses together. These businesses can connect with each other and cater to one another’s lending and financial requirements.
Although Fundera has taken a traditional approach towards cash flow management, several businesses are relying on this platform for their financing needs. When a business needs a loan, it can fill out a form and the lenders will submit their terms against the application. The most suited application is accepted.
FundBox is an excellent lending tool for businesses, they help with working capital against unpaid invoices and advance. With the help of FundBox, small business owners can fill the short-term gaps in their cash flows. They do not need to purchase an invoice, but they can get finance based on such invoices.
With the help of Kabbage, businesses can get credit up to $100K within minutes. They work on simple credit principles such as you pay for the credit you have taken. Seeking loans from Kabbage is perfect when a business wishes to stock up for the festival season and does not have any liquidity to invest an amount ahead of time.
With the help of On Deck, it is possible to get a loan approved up to $500K. They have their own proprietary models based on which they can check the overall health of the business. The loan is approved on the basis of the evaluation. Ideal for businesses like restaurant, tech companies, retail and so on.
Lendio is an interesting loan platform. The way your apparels sell online, you can pick up loans that suit your business. The entire platform is based on machine learning and this intelligence helps you pick the right loan. If you need a loan to help you grow your business, the algorithm can guide you accordingly.
All businesses look forward to good lending platforms that can offer personalized loans. If you are one of them, Deal Struck is the right solution for you. It is one such lending platform popular for offering a loan that is a ‘perfect fit’ for your needs. The entire process can be executed seamlessly online, and you can even track your loan process from their online portal.
Improve your financial supply chain with the help of Taulia. This is a good platform to help improve your cash flow. Their working is slightly different from the typical B2B lending realm, but this platform deserves to be in the list. This platform is also worth mentioning because it brings corporations and small business suppliers on the same page through invoice discounting.
Tell your business story and stand a chance for loan approval. Does this sound like a contest? It may be, but this is the policy of Street Shares. It is a platform that will help you get a loan up to $100K, but you need to share your business story while filling out the application form.
When you need a wide range of options for your business loans, Biz2Credit is the best platform to look to. This lending platform offers the largest maximum business credit to companies. All small business owners can apply for a loan irrespective of their current credit.
Leveraging the benefits of data-driven algorithms, Bond Street helps small businesses secure a loan. This platform is popular for offering personalized loans especially for businesses that are looking forward to start a new store, boost their operations, expand their team and add inventory to their current stock.
These lending companies are impacting the industry in many ways. These companies offer a grand pool of opportunities for businesses, this allows companies to think of alternatives besides crowdfunding and other such techniques.