03/23/15

Small Business Loan Bracketology: Game 5, Local Banks vs Credit Unions

This match up is one of the most hotly contested and anticipated matches of the bracket. Both Local Banks and Credit Unions point to their local focus as their own specific advantage. Both Local Banks and Credit Unions also boast their focus on small businesses and their commitment to the community.

Remember, we’re seeing who has the best small business loan option for a restaurant with one year in operation, an average of $20,000 in monthly revenue and good credit. This business is looking for $50,000 for working capital and needs the funds within 3 weeks.

Final: Credit Unions win in double overtime with a deep three from the corner! Harvard Business quotes that Credit Unions fund small businesses 10% more often than Local Banks.

To follow this contest, like our Facebook page here.

For Friday’s game, check out ACH vs Peer-to-Peer Lending.

 

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About the author

Erik Larson
Erik Larson frequently writes for Lendio about SEO, Digital Marketing, Social Media Marketing, Business Loans, and whatever else strikes his fancy. He can be found on and Twitter.

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