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17 Firms Changing The Way Small Business Lending Is Done

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The percentage of total bank business loans that go to small businesses has steadily declined, from over 50% in 1995 to under 30% in 2012. As banks loan less to small businesses, others are filling the gap.

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17 Firms Changing The Way Small Business Lending Is Done

  1. 1. Small Business Lending Innovators
  2. 2. As banks loan less to small businesses…
  3. 3. …Others are filling the gap.
  4. 4. The Aggregators These firms help identify and connect firms with both traditional and nontraditional lenders. They make the job easier when looking for financing sources.
  5. 5. Is small business bank lending in decline?
  6. 6. The percentage of total bank business loans that go to small businesses has steadily declined, from over 50% in 1995 to under 30% in 2012. Source.
  7. 7. Credit Score Monitors A good personal and business credit score is key to getting loans.
  8. 8. How good is a 700 personal credit score? The majority of the adult US population has a credit score above 700, but only 18% have credit scores above 800.* *From creditcardforum.com What Is A Perfect Credit Score In 2013?
  9. 9. Family & Friend Loans These firms provide legal documents and help keep track of payments minimizing family friction.
  10. 10. How Big Is The Bank Of Mom & Dad? Friends and family members provide financing for about 36% of new companies. Typically, family and friends provide about $23,000 in funds. From smallbusiness.yahoo.com Where Startup Funding Really Comes From
  11. 11. Personal Loans For Business Purposes These P2P companies enable you to borrow based on your personal credit score.
  12. 12. Are there better alternatives to using credit cards for personal loans? When comparing rates on P2P loans to credit cards for similar credit score borrowers, 3 year P2P loans offered 2% lower rates. From fitsmallbusiness.com Can A P2P Loan Provide Funding For Your Business?
  13. 13. Short-term Financing For Online Merchants These firms give credit primarily based on your history selling via online sites, like EBay and Etsy.
  14. 14. How big is eBay? In 2013, eBay marketplaces had $30.4 billion in gross revenues in the United States. From businesswire.com eBay Inc. Reports Fourth Quarter and Full Year 2013 Results
  15. 15. Invoice Factoring Get cash right away based on outstanding invoices or receivables, primarily for B2B companies.
  16. 16. How long does it take the average invoice to get paid? In 2012, private companies received payment 29.2 days after issuing an invoice. From online.wsj.com Small Firms' Big Customers Are Slow to Pay
  17. 17. Short-Term Working Capital Financing Short-term loans for typically less than two years for established businesses.
  18. 18. How much alternative business lending is happening? OnDeck, a pioneer in short-term business loans, crossed the $1 billion mark in March 2014. From blog.ondeckcapital.com OnDeck Crosses the $1 Billion Mark
  19. 19. Medium Term Loans For Small Business Loans from 2 to 5 years with a fixed interest rate.
  20. 20. SBA Guaranteed Loans These government guaranteed loans offer super-low interest rates
  21. 21. Join The Community: www.FitSmallBusiness.com Click here to tweet this presentation. See the full article here

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