It’s that time of year again. Hundreds of thousands of people are pouring over basketball analysis, signing up for contests, and putting all their money on Kentucky. That’s right, it’s bracket time. To get in the spirit here at Lendio, we’ve created a bracket for the 8 major small business loan options, and we’re going to pit them against each other to see who’s the best option for one small business.
Small Business Loan Bracketology
The star of our tournament this year is a business with one year in operation, an average of $20,000 in monthly revenue and good credit. The business is looking for $50,000 for working capital and needs the funds within 3 weeks. We’re going to compare all of the different loan options and find them the best loan.
Getting a Small Business Loan vs. Winning Your Office’s Bracket
The traditional process to getting a loan can be frustrating, so frustrating in fact that many businesses feel it is as impossible to get a loan as creating the perfect bracket. That is why businesses rank it as the number two business issue they face, following taxes as the number one problem. The reality is that there are far more options than most business owners realize.
Business owners need to look at business loans as a competition of the highest magnitude for their business. There are more competitors than most realize. So let’s follow this one small business in their quest to find a loan, and we’ll see which lending option is going to take home that championship trophy.
You can follow this competition by liking our Facebook page here.
Game 1 is up! Big Banks vs. Local Banks