Entrepreneurship drives economic growth. Any nation that aims to grow economically needs to invest in small to medium enterprises, which form the basis for job creation. Despite these facts, banking institutions are imposing tougher criteria for approving loans.

More often than not, small businesses struggle to find fast business loans in light of the credit crunch of 2007 and 2008 and the global recession that followed. The reality is that banks are not keen on risky lending practices. For this reason, business bank loans are notorious for their lengthy processes and delays in paying out.

Fortunately, there are ways to work around such challenges. As a business owner you can opt for alternatives such as asset-based lending. This offers quick and easy access to funds, while there is less paperwork involved and there are no credit checks.

You can also try options such as crowdfunding, which provide simple funding solutions.

There are also various micro lending institutions that offer fast business loans.

Anglo African Finance

This institution has partnered with funders that specialise in providing fast business loans in the form of cash flow advances. The loan amount that is provided is linked to average turnover.

Costs are agreed upon upfront and the application process is easy and fast. The loan is repaid weekly with future cash flows via debit order.

RainFin

RainFin offers fast business loans from R10 000 to a maximum of R750 000. Repayment terms range from 12, 24, 36 to 48 months.

This institution lets you apply for funding on a marketplace of thousands of lenders without the need to secure against assets. RainFin specialises in connecting businesses looking to borrow money, with South Africans looking to lend. As soon as you have qualified for the loan you can then use the finds to meet your business needs.

 

https://entireloans.com/wp-content/uploads/2016/07/149.jpghttps://entireloans.com/wp-content/uploads/2016/07/149-150x150.jpgAdminloansbusiness-loans,fast-business-loans,startup-business-loansEntrepreneurship drives economic growth. Any nation that aims to grow economically needs to invest in small to medium enterprises, which form the basis for job creation. Despite these facts, banking institutions are imposing tougher criteria for approving loans. More often than not, small businesses struggle to find fast business loans...Compare Local Financial Products in South Africa