Alternative Finance: Why should you consider it?Jul 30, 2019 Blog Alternative Finance
The benefits of Alternative Finance as published in rangewell.com.
Every business needs capital to grow and operate, no matter the size, sector or nice. It is up to the business owner to ensure that there is sufficient capital available to achieve the business goals at any given time. However, this is not easy and can be very frustrating, even for established businesses. That is why it is necessary to understand what Alternative Finance is and what opportunities are available in this industry.
Why should I apply for Alternative Finance?
Due to a lack of awareness and understanding, many business owners still approach traditional institutions for financial support. However, choosing this path might not always be a viable solution – especially if you are an SME with limited trading history. You can achieve your goals by investigating what the Alternative Finance industry has to offer instead.
Alternative Finance grants businesses access to a new generation of finance products and lenders, offering SMEs great flexibility, especially as many Alternative Finance products have no usage restrictions and borrowing limits.
What is Alternative Finance?
Simply put, the Alternative Finance industry provides access to a wide range of finance agreements for anyone other than a traditional institution such as a bank. As a result, you could get finance from anyone from Specialist lenders, Marketplace Lenders, Boutique banks and Crowdfunding Platforms to private individuals. The Alternative Finance industry basically increases the options available to your business, giving you more ways to achieve your goals. All you need to do is source the option that is appropriate for your business needs.
What products are available through Alternative Finance?
Apart from the products on offer from traditional financial institutions such as banks, you can apply for anything from Secured and Unsecured Business Loans, Factoring, Discounting, Hire Purchase, Leasing, Asset Refinance, Commercial Mortgages to Overdraft Replacement. However, in order to make an informed decision on which of these products will benefit the whole of your business, it is vital to understand how each of the products operates. So make sure that you do your homework well before choosing one.
If you are looking to raise capital in support of your business’ development, consider RainFin’s online credit marketplace as an option for Secured and Unsecured business loans. Go to www.rainfin.com.