Once upon a time, the best option for someone looking for the best business loans for small and medium sized businesses was to walk into your friendly neighborhood bank and walk out with a loan approval, and a handy bank calendar.
Unfortunately, much of that changed as a result of the Great Recession, which created significant challenges for small and medium sized businesses looking to get funding for their business. The good news is that those challenges don’t mean that you can’t live your dream of starting or growing your business. You just need to understand what your options are.
History of small business lending
Back around 2008 when the Great Recession erupted, the small business lending industry changed drastically. The risk that was recognized in the mortgage industry meant that banks were now more stringent with their small business lending requirements. This made it virtually impossible for applicants with flawed credit and/or less than two years of credit history to apply. Banks are in a position where they can – and likely should – be more picky with their terms, and big businesses still benefit with low-cost loans. But, if your business is still new, how do you grow to that big business that can benefit from those same low-cost loans?
Alternative lending options to help you find the best small business loans for your company
If you’re looking for the best small business loan for your company, here are some of the options available to you:
Is Mulligan Funding your best option for a small business loan?
Hi – we’re Mulligan Funding, an alternative business lender. We proudly provide small and medium sized business owners like yourself with transparent, simple-to-manage and competitively-priced small business loans.
Unlike banks, we specialize in serving the needs of those businesses who are likely to get rejected by a bank (and their much more competitive rates). We also work with you on your overall strategy, helping to make sure that your business is set up for success.
We’re not always the right option for every business, but we do strive to be competitive in our industry, and to be an advisor for you and your business. If you’d like to understand how Mulligan Funding may be able to help you grow your business and find the best small business loan for your company, we would love to talk with you. No pressure, no commitment.
*The information shared is intended to be used for informational purposes only and you should independently research and verify.
Note: Prior to January 22, 2020, Mulligan Funding operated solely as a direct lender, originating all of its own loans and Merchant Cash Advance contracts. From that date onwards, the majority of funding offered by Mulligan Funding will be by Loans originated by FinWise Bank, a Utah-chartered Bank, pursuant to a Loan Program conducted jointly by Mulligan Funding and FinWise Bank.