Secure Alternative Funding with Innovative Capital3. Hard Money LoansPeer-to-peer (P2P) lending has gained significant traction in recent years as an alternative to traditional lending. P2P lending platforms connect borrowers directly with investors who are willing to lend money.
This direct connection removes the need for traditional financial institutions (like banks), allowing borrowers to access funding at lower interest rates.
We at Innovative Capital utilize P2P lending to allow borrowers to access loans at competitive rates and with flexible repayment terms.
This enables borrowers to access multiple lenders through our wide and varied network, which results in a better chance of securing the funds they need.
Investors compete to offer the most attractive interest rates and terms, making it an ideal option for borrowers who may have difficulty securing traditional loans.
Alternative lending has emerged is a viable option for individuals and businesses that are unable to secure loans from traditional financial institutions, or those who simply want to review all options.
The bank is not your only choice for securing a business or real estate loan. In fact, there are many alternative lending options available that can help you reach your goals.
What Alternative Lending Options are Available
Alternative lending options have simplified the lending process and made it more accessible to a wider range of borrowers.
While there are many types of alternative loan options, here are three common alternative sources:
1. Lines of Credit
A line of credit is a type of revolving loan that allows the borrower to access funds whenever they need them, up to a predetermined limit.
This option is particularly beneficial for businesses that require funding for multiple projects or expenses, as it gives them the flexibility to draw down on their credit line as needed.
Lines of credit may be secured or unsecured, and the interest rates and repayment terms vary depending on the lender.
One of the advantages of a line of credit is the quick turnaround time for approval.
This type of loan is usually approved faster than traditional loans, and the application process is relatively simple.
Once approved, borrowers can draw on their credit line as needed, and the interest is only charged on the amount they have borrowed.
2. Peer-to-Peer Lending
Peer-to-peer (P2P) lending has gained significant traction in recent years as an alternative to traditional lending. P2P lending platforms connect borrowers directly with investors who are willing to lend money.
This direct connection removes the need for traditional financial institutions (like banks), allowing borrowers to access funding at lower interest rates.
We at Innovative Capital utilize P2P lending to allow borrowers to access loans at competitive rates and with flexible repayment terms.
This enables borrowers to access multiple lenders through our wide and varied network, which results in a better chance of securing the funds they need.
Investors compete to offer the most attractive interest rates and terms, making it an ideal option for borrowers who may have difficulty securing traditional loans.
3. Hard Money Loans
Hard money loans are typically used for real estate transactions and are offered by private investors or companies.
Unlike traditional lenders, hard money lenders prioritize the value of the property over the borrower’s credit score, making it a helpful option for individuals with low credit scores.
Additionally, hard money loans are typically approved faster than traditional loans, with some loans closing in as little as a few days.
One of the disadvantages of hard money loans can be high interest rates. However, this is often outweighed by the quick approval process and the ability to negotiate terms with the lender.
Secure Alternative Funding with Innovative Capital
At Innovative Capital, our goal is to find unique and innovative options to secure the best rates and terms for our clients.
Rather than surveying one option at a time, our team draws from our diverse selection of lending partners we think will be interested in funding your business needs.
Our resources allow us to leverage multiple offers from different locations to find the absolute best deal for your needs.
And if you’re not happy with the options we present to you, you don’t pay us.
We are so confident in our ability to find you the best deal to meet your business’s needs that you only pay our fee if you decide to take our deal.
Request a free quote below and one of our team members will respond to you shortly.