17 May Working capital business loans: Apply online now
In today's fast-paced business world, obtaining funding quickly can be crucial for small businesses looking to expand or cover unforeseen expenses.
Traditional banks and lending institutions have long been the primary source of financing for businesses, but the rise of online lending has opened up new opportunities for businesses to obtain funding through working capital business loans.
For example, Yardline is an online lender that provides extensive business funding solutions so businesses can order more inventory, launch new products, and run more ads.
In this blog, we'll explore some of the benefits of applying for business loans online and provide some tips to help make the process easier.
Benefits of Applying for Business Loans Online:
Faster Processing Time
Online lenders typically offer faster processing times than traditional lenders, with some lenders such as Yardline providing decisions in as fast as 24 hours. This means businesses can get the business funding they need quickly, which can be critical in certain situations.
With online lending, businesses can apply for working capital business loans from the comfort of their own office or home. This saves time and money compared to traditional lending, which often requires multiple in-person meetings.
Online lending has opened up more options for businesses to obtain financing. There are many online lenders offering a variety of loan products, including term loans, lines of credit, and merchant cash advances.
Tips for Applying for Business Loans Online
Tip #1 - Know Your Credit Score
Before applying for a loan, businesses should know their credit score. This will help them determine which lenders they may qualify for and what interest rates they can expect when applying for business funding
Tip #2 - Have Your Financial Documents Ready
Online lenders will typically require financial documents, such as tax returns, profit and loss statements, and bank statements. Having these documents ready before applying can speed up the application process.
Tip #3 - Compare Rates and Terms
With so many online lenders available, it's important to compare rates and terms before choosing a lender. Businesses should look for lenders with transparent pricing and reasonable terms.Yardline offers rates as low as 7.49% APR* for qualified applicants and up to $20mm in funding for your business in as fast as 24 hours.
Tip #4 - Read the Fine Print
Before accepting a loan, businesses should carefully read the loan agreement and make sure they understand all of the terms and conditions. They should pay particular attention to any fees or penalties that may be charged.
Applying for business loans online can be a convenient and fast way for businesses to obtain financing. However, it's important for businesses to do their due diligence and carefully research and compare lenders before applying for a loan.
Instead of applying to many different funding options to see what you qualify for, you can simply fill out one application when you apply for funding from Yardline. Yardline will provide you with access to a full suite of funding products including small loans, business and personal credit cards, revolving lines of credit, sba loans, and so much more.
A team will also walk you through your options and get you the funding you qualify for in as fast as 24 hours. Apply today and watch your business grow.
*Based on rates as of March 1, 2023