Disruptive. Exponential Growth. Redefining the Business Landscape. Innovative. Sound like your Amazon e-commerce site? Amazon e-commerce businesses are easy to set-up with low barriers to entry, but after a few years of year-over-year of sales growth, scaling and growth can be challenging without tapping on to capital.
As revolutionary as Amazon e-commerce and the virtual world of shopping, at your fingertips worldwide, FinTech companies are taking on traditional financial institutions. Disruptive. Exponential Growth. Redefining the Business Landscape and as seamless and comfortable, it’s as if we’ve been using this technology all our lives.
You know it well and use it every day …
● Mobile payments at a local grocery store
● Mobile payment using Stripe for your online purchase
● Paying with your credit card via Square at the farmer’s market
● Getting a personal loan from the comfort of your couch
● Getting a business loan from your virtual office
● Getting an insurance quote without ever interacting with a human being…
Eight years ago, mobile transactions were a dream, a fairy tale, in the financial sector with brick-and-mortar banks controlling the financial landscape and how people and money interacted. The financial world a mere 8 years ago belonged to giants like Bank of America, and JP Morgan.
Welcome FinTech Companies and Access to Business Capital.
Today, technology has changed our world dramatically with the widespread use of smartphones and major improvements in network and wi-fi infrastructure. FinTech companies are bringing us access to financial capital, once a dream to small businesses. It’s easier, faster, better and more convenient alternatives than what the big financial corporations can offer.
Sophisticated and Secure Websites … a Vast Array of Capital Alternative Today a simple web search for business capital produces a long list of interesting alternatives to the traditional big banks. These financial websites are chalk full of information on the loan application process, sophisticated, secure and allow savvy business owners access to information at the tip of their fingers providing instant answers to inquiries and loan applications.
Often overlooked or unknown but proving a new and exciting access to capital, is the Small Business Administration, and their 7(a) and 504 program. With competitive rates and limited covenants, SBA-backed loans are a versatile and competitive alternative to business owners seeking business capital with an easy application process.