The Internet has changed the way we do a lot of things. We all can watch movies and television shows online, do our shopping and read the news right from our computer, and more. It’s also changed the ways you can seek financing. Before online businesses took off, you would have had to go to the bank to get a loan. Now, you don’t have to leave your home or office. How else has the Internet changed financing? Let’s talk about it.

Money is Received Faster
The Internet has certainly changed the amount of time it takes for you to secure funds once you’re approved. Before, no matter what kind of funding you were seeking, you had to wait weeks or sometimes even months to see that money. Not only is waiting that long frustrating, but depending on your situation, it could be detrimental to your business. Nowadays, you can receive funding online in as little as 48 hours!

Application Processes are Quicker and Easier
Applying for financing used to be a long and difficult process. You would have to gather all of your documents, go to the bank, and take your place in line. You no longer have to go through this process, thanks to the Internet. Although there are some traditional lending processes that might require you to physically go into a bank and bring some documents along with you, most process can at least be partially completed online.

There are More Options Available
The biggest change is definitely the amount of choices you have when it comes to how to fund your business. In the past, you either had to go to the bank or hope someone would lend you money. If you couldn’t get approved for a bank loan, you were out of luck. Now, you have multiple options to choose from. Invoice factoring is great for businesses that bill their customers via invoice, purchase order financing is a good option for someone who just needs to fund the purchase of materials to produce their goods, and so on. Alternative lending companies are there for when traditional lending doesn’t go your way.

To find out more about the financing options we offer, contact us today!

Post written by Senior Copywriter “Nikki Wakefield” of CoreFund Capital, LLC.