Looking for a loan to support your business? Online loans are faster and easier than traditional banking and can be a smart choice for getting the financial boost you need. Learn more about why loans online might be the best option for you, from convenience to cost savings.
#1: Quick Application Process
Online loans typically have a simple and straightforward application process that usually only requires basic business information. It is usually much faster compared to traditional bank loan applications, which often require more paperwork and take weeks or even months to complete. This means that you can get the money you need much faster with an online loan.
#2: Digital Paper Trail
With an online loan, all the paperwork can be digital so it’s much easier and faster to do. You don’t have to fill out a ton of forms every single time you need a loan and everything is just a few clicks away. This speeds up the process significantly compared to having to print off documents, sign them, scan them and then send them in for approval.
#3: Great Rates and Flexible Terms
Online loan providers make it easier to compare rates and find the best one for your business. You can easily see which lender has the best options and what kind of terms they’re offering. Some companies even offer hefty discounts for businesses that are looking to get an online loan. With a traditional loan, you usually have to stick with whatever rate you were given, but with online loans, you have more room to negotiate.
#4: Fast Approvals and Funding Times
Online lenders provide fast approvals and relatively speedy funding times. The process is so easy and efficient that you can often get money in your bank account within a few days rather than having to wait weeks or months like with traditional loans. Additionally, some online lenders have digital applications that can be completed on the spot and reviewed immediately. This makes the process very straightforward and eliminates any long waiting periods.
#5: Transparent Fees and Costs
Online lenders provide you with a transparent breakdown of all their loan costs and fees before you sign up. This allows you to compare loan offers side by side to find the best deal for your business needs. Traditional banks are often much more opaque when it comes to detailing their fee structure, making it hard to fully understand the details. With online lenders, there is no guesswork involved – you know exactly what you’re getting into from the start.
#6: No Call Centres or Queues
There’s nothing worse than sitting for hours on a call listening to cheesy elevator music and ending up getting cut off just as the operator starts providing the help you need. Nobody has time for that in this day and age, especially as a busy business owner. Avoid the time-wasting phone calls and queues with fast and easy business loans online.
Have we convinced you yet that loans online is the way to go when looking to secure funding for your business? There are so many hoops to jump through with traditional lenders which is why it simply makes sense to turn to private lenders for the funds you need. If you meet the minimum requirements (below), please apply now for your business loan online.
- Business must have been trading for over 12 months
- You must have made over R1 million in sales in the past 12 months
- You must be a registered entity such as a PTY, CC etc.
- Audited financials
- Bank statements
- Trading at the same premises for more than 6 months
Whats in it for you:
- Up to R5 million in funding
- Fast turnaround and approval times, as quick as 24 hours
- Low interest rates and transparent fee structure