- Small businesses are the engines of growth in our communities, driving wealth creation and upward financial mobility.
- Community Capital Fund — supports economic development projects that benefit low- and moderate-income people in the Greater Bridgeport area.
- These aren’t always the best choice for small business financing, however, because they’re not really designed with small business owners in mind, and they’re hard to get.
- Whether the lender does or does not check out the contractor, you should do your due diligence.
- If you’re applying for your first business loan, our guides will help through the process, from figuring out what type of funding you need to getting approved for a loan.
- Government loan programs offer financial support to people starting or expanding a business.
LendPro can integrate their financing application software with your website, so customers can see their financing options at checkout and file an application if they are inclined. They also have physical kiosks for physical stores, where a customer can apply for credit in person. A merchant can also buy a tablet and install LendPro’s software on it and then hand the tablet to the customer to apply for financing. There are several ways a customer at a physical store can apply for financing. One financing company offers free-standing kiosks that customers can use to apply.
Adjust to Uncertainty and Get Back on Track for Growth!
This study includes only the content of lender websites and does not compare formal credit offers and loan agreements with terms advertised on the sites. It also does not address the extent to which data collected by trackers may be used in lenders’ credit decisions. Future research could consider the impact of standardized disclosures on satisfaction with online lenders, as well as whether they lead to borrowing decisions that help small businesses thrive and grow. Specifically, details that were important to focus group participants—rates, fees, and repayment information—were absent from several of the websites or hard to find. Even on websites with relatively detailed information, specifics about the products were sometimes missing or not readily displayed. For example, one lender featured in prominent bold print the “as low as” rate for a loan product, but in a footnote, disclosed a far higher average rate.