Unsecured Business Loans - Marketplace Lenders
Marketplace business lenders have entered the market over recent years and are providing businesses with a strong alternative to the traditional unsecured bank facilities in both the types of loans offered and efficiency of the loan approval and funding process.
In summary, marketplace lenders will review your business, provide an automated assessment and rating and then list your business (some disclosing your business name and details and others keeping it confifdential) on their platform for their registered investors to review and bid on.
Their investors will then set the interest rate for your business loan by bidding for your loan within the assigned pricing range.
Marketplace lenders can therefore provide businesses a term loan, without the need for property asset security, with a simple and efficient loan approval and funding process and at an interest rate that it is comparable to the major banks unsecured lending rates.