4 Reasons to Choose an Alternative Lender4 Reasons to Choose an Alternative Lender
Find out why thousands of Australian SMEs are turning to alternative lenders.
The lending landscape is changing, as more and more small-to-medium business owners turn to alternative lenders. Alternative lenders are providing SME business owners with competitive alternatives to the traditional lending model. Australia has become the third biggest alternative lending market in Asia-Pacific, valued at nearly A$460 million.
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Alternative lenders cater specifically to the SME market and offer quick, easy, flexible business loans to this market. Australian SMEs can easily apply for quick business finance through Become. Get a Loan>>
Australian SMEs Trend Toward Alternative Lending
Over a decade ago the alternative lending market was born and is currently growing at a rapid pace. Australia has joined the growing worldwide trend towards alternative financiers.
4 Reasons to Choose an Alternative Lender
Business loans provided by alternative lenders are typically unsecured, and usually involve an online application and minimal paperwork.
Alternative lenders generally approve loan applications quickly, and funds may be deposited within a couple of days from application approval.
- High approval rate
Since 2006, traditional banks have decreased the provision of SME business loans by over 38%. This is according to a 2015 Wall Street Journal report. Alternative lenders will typically approve loans that traditional lenders are unable to approve.
Alternative lenders typically offer flexible repayment terms based on how a small to medium business operates. For example, repayments can be made daily for better cash-flow management, and can even be adjusted according to business seasonality.
Check now if you qualify for a business loan
Become is a premium loan marketplace that matches Australian businesses to the right loan for their business, quickly and easily.
If you would like a loan quote for your business, fill in the Become quick, online application form. A Become account manager will contact you if you seem likely to qualify for a business loan from one or more of our partners. Our proprietary technology will then match you to the right lender for your business.
Disclaimer: The above information is of a general nature. Before receiving a business loan you should consider the loan agreement and finance documents provided by the lender, and whether the loan is suitable for your business.