Online lenders are becoming more and more popular for many reasons. They offer many benefits that traditional lenders do not, even for professional borrowers such as CPAs.Often times CPAs and other tax preparers draw a majority of their funds during a short few months of the year, and they may need to bridge the gap until the next tax season with financing.Online lenders are a great way to do this.
Receiving funds from online platforms is faster than it is with traditional lending.The process itself is more streamlined simply by the nature of having everything happen electronically.The time is takes to mail or transport information is cut out, and much of the review process is handled electronically as well.This means that in many cases, funds are in the borrowers account within 24 to 48 hours of approval.
Online lenders are much more convenient to use.This is huge for CPAs, as long hours make for very little time available to visit a traditional lender.Income information can be transferred electronically by fax, e-mail, or sometimes even electronic upload.It can be done any time of the day or night, most often 7 days a week.
Easier to Track
Keeping up with payments, making payments, reviewing interest, how much is owed, and other tracking and managing duties related to debt are much easier to handle with online lenders.Signing into an account and pressing a button that drafts the payment from your account is fast and convenient, and automatic draft is typically and options as well. Since these lenders do everything online, they are going to be set up to ensure the utmost in safety and client convenience. Some online lenders allow you to run reports and tax documents straight from the site as well.
Edge of the Game
Online lenders are, in general, more on top of things when it comes to change in the industry.They know their customers use them for speed and convenience, and they understand that they must stay at the very front of change and evolution in both lending, and the industries their borrowers work in, including accounting. When things change, so will they.
Biz2Credit has an extensive network of lenders that offer a variety of options.We can match you to those that will work best for your business. Visit Biz2Credit.com today to get started.