Business Loan Companies, the new website launched by Finofin LTD, provides UK and US based businesses with alternative funding options by comparing different types of loans for them.
The comparisons are based Credibility, Promptness of Approval, and Target Reach (flexibility of the vendor) and clients can see the types of loans and amounts each lender offers, minimal requirements, the interest rates, and the securities required of them.
A key part of Business Loan Companies is its transparency. All clients receive comprehensive reviews per loans company, unlike competitors, which offer “smart-engine matching”. Moreover, the site allows users to find top-rated lenders matching their individual specifications, such as best lenders for borrowers with bad credit, or for top lenders offering unsecured loans.
“Our service is designed for U.S. and UK-based small and medium businesses with at least a year of credit history. We hope that through data-driven reviews and recommendations, we are able to give these SME’s the peace of mind they require when seeking out alternative funding solutions online,” said Business Loans Companies owner Alon Rajic.
The Business Loans Companies’ site further allows borrowers to reach the lending companies’ sites, and contact them, directly, eliminating the need for loan brokers. Some of the brokerages have severely criticized by mainstream media for their dubious tactics while review sites like BusinessLoanCompanies.com allow businesses to make their own decisions, and also contact multiple lenders to compare between their terms.
Moreover, Business Loan Companies comes during a boom for the business lending industry, topped off by Lending Club’s IPO, the largest IPO in the U.S in 2014 . As more businesses turn to such lenders, a comprehensive review service is necessary.
“In the wake of the 2008 crisis, banks are far more conservative in giving loans to businesses,” added Rajic. “Since then and for that reason, many alternative loans companies have emerged – some are questionable, some are good and others are excellent. We have developed our lenders comparison service in response and aim to give our users the opportunity to find the right financial solution for their business – without the associated worry of borrowing online.”