What Are the Benefits of a Funding Aggregator?

What Are the Benefits of a Funding Aggregator?

Business moves at a rapid pace. As a business owner, you must keep up with the movement of your business and predict internal and external changes that can impact your strategy. Using a funding aggregator is a great way to examine alternative financing options. Let’s discuss what a funding aggregator does and how it benefits your organization.

What is a Funding Aggregator?

Funding aggregators, also known as finance aggregators, are online platforms where businesses apply for loans. After submitting your application online, you are given a list of loan options for which you prequalify. Online aggregators help you sort through the myriad of lending options and help you narrow your search to the ones that provide the best benefits.

Why Should I Use One?

Think of funding aggregators as a “light” version of a commercial investment broker. It helps you find alternative financing offers, but the analysis is up to you.

Most online applications are simple to use. You enter information about your business, the amount you want to borrow, and the purpose of the loan. Alternative lenders look at this business history and collateral to determine if they have a loan package that meets your needs. Traditional banks typically require business plans and market analysis that is time-consuming to produce.

Time is your most valuable asset as a business owner. Financing aggregators save you time, as you complete only one loan application online. In a matter of a few hours to a couple of days, you receive multiple loan offers from multiple lenders. Traditional banks typically take weeks to respond to your application.

Flexibility is a key benefit of funding aggregators. You can apply for, or receive offers for, everything from credit cards and microloans to hard money loans and installment loans. You may even find loan options that you didn’t realize would be a good fit for your needs.

Alternative financing helps businesses repair their credit score. Many non-traditional loans do not put as much emphasis on the credit rating of the borrower. There are many benefits to a stronger credit score, including:

  • Negotiate better terms with vendors.
  • Protect your personal property and finances.
  • Receive better interest rates on credit cards.
  • Use proactive payment strategies to improve your credit rating.
  • Consolidate debt at a lower interest rate.

Using an online funding aggregator can help you take advantage of business growth opportunities. It is one more tool in your corporate financial portfolio. Lending Hub offers a wide range of funding solutions for businesses of all types. Contact our offices today to explore your options.