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How Loan Aggregators Make the Small Business Loan Application Process Easier

How Loan Aggregators Make the Small Business Loan Application Process Easier

Written by: Kelly Hillock

August 9, 2023

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How Loan Aggregators Make the Small Business Loan Application Process Easier
3 min read

Running a small business is no easy task and often, entrepreneurs have a long to-do list with not enough time to do it all. When it comes to small business financing, the process of finding and selecting the right fit for your business seems overwhelming. There are many factors to consider and not everyone has the time or expertise to know what makes a great lending partner. This is where a loan aggregator comes in – an aggregator has already sourced highly rated lenders for you to choose from. You can cut down on time spent researching lenders and more time securing financing for your business – because ultimately, you want to get back to what matters most as quickly as possible: running your business.

What is a loan aggregator?

Loan aggregators save you valuable time by connecting you with multiple lenders. A loan aggregator compiles a list of trusted lending partners for a small business owner to sort through and choose from. Some aggregators round up a list of their top lending picks for a business owner to compare the differences between lenders. Some aggregators, like SmallBusinessLoans, ask you a few questions to better learn about your business needs before matching you with a lender. Every business is unique and by taking the time to know a little bit about your business, an aggregator can then better match you with a lender who has the right expertise for your business needs.

An aggregator can also be a source of general loan information. Once you evaluate your business needs, you’ll need to research what type of loan would work for your business. Aggregators often compile resources so you can get an understanding about what loan types are available to you, what you’ll need to start your application, and what to expect throughout the process.

Aggregators simplify the loan application process by making it even easier to apply. Alternative lenders typically have streamlined applications with minimal paperwork requirements – often you’ll just need to provide a credit score and banks statements.

How do you find the right lending partner?

Choosing the right type of lender to work with for your small business financing needs is crucial. Once you determine whether an SBA lender or alternative lender will suit your needs, you’ll then need to research lenders available to you. Lenders generally have different requirements and applications and there’s a lot of information to read through. SmallBusinessLoans recommends asking yourself the following questions to determine what lender might be a good fit:

  • What does your business need funding for?
  • How quickly do you need access to these funds?
  • Can you afford daily, weekly, or monthly repayments?
  • What are your business goals for the next quarter? Next year?

Having this kind of insight can make it easier to find a lender that aligns with your needs and goals. An aggregator already sourced lenders who specialize in speed and efficiency, and SmallBusinessLoans matches small business owners with lenders who can offer up to $400,000 in as little as 24 hours.

What can SmallBusinessLoans do for you?

Here at SmallBusinessLoans, we are committed to supporting the financial well-being of small businesses like yours. Our mission is to provide tailored financing solutions that meet your unique working capital needs. Through our network of trusted lending partners, you can gain access to up to $500,000 in capital. Our dedicated team of experts understands the challenges you face and is here to provide personalized guidance throughout the lending process.

Let us to be your partner in success. Find your perfect match today.

About the Author

Kelly Hillock

Kelly Hillock is the content marketing manager for SmallBusinessLoans, where she writes and edits articles for small business owners. Kelly has over eight years’ experience in copywriting across a variety of industries, focusing on entrepreneurship and finance. She has a Bachelor of Arts in journalism from San Diego State University.

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