What to Do After Your Business Loan Was Rejected
November 4, 2021
It’s important to note that a traditional SBA loan isn’t the end-all, be-all of financing options.
There are quite a few alternatives, including a home equity investment, which can be a great choice for small business owners who either don’t fit the criteria for loan approval or were rejected by a traditional lender.
Though standard loans often have fairly low interest rates, the downside is that the timeline for funding is quite slow — up to three months — and the process frequently requires both a hard credit pull and site inspection. If speed and cash flow are priorities, a home equity investment from a company like Hometap can get you the money you need in as little as three weeks with no monthly payments and zero interest.
This article originally appeared on Home Business Magazine. See the full article here.