There is no question that anyone who is looking to grow their business needs access to working capital, this is especially true for small businesses. Traditionally banks were the first the first place to turn to when considering a loan. They provided the lowest cost loans in the market however the process can be long and tedious . Banks require strong business credit scores and collaterals and very often startups and new businesses find it difficult to qualify. On average less than half of small businesses that apply, ends up qualifying.
Alternative Lending Options
After the economic crisis of 2008, banks began to dramatically cut down lending options and it became even more difficult to secure a loan. Many entrepreneurs and small business started relying on self funding or bootstrapping. This might seem like a good alternative since you are in control of your own finances. However it is an extremely risky financial decision with a lot of added stress and budget cutting. Financial market has changed over the years, several feasible alternative lending options are available today. With proper research and due diligence businesses can find reliable capital to meet their business needs.
One such alternative lending option available to small business is OnDeck Capital. Founded in 2007 to help businesses achieve their goals, OnDeck is a non-bank small business lender. By 2014, OnDeck had surpassed 100 million in capital delivered to small business in all 50 U.S states and got listed on the New York Stock Exchange. Today OnDeck is considered one of the leading non-bank lenders in the market serving over 50,000 small businesses.
OnDeck Accountant Advisory Program
As Certified Public Accountants you regularly work closely with small business for their financial and accounting needs. By partnering with OnDeck you can now help them access the capital they need to manage and invest in their business. Your clients will also receive preferred pricing on loans and you can opt into a revenue share program to earn referral fees.
OnDeck offers:
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Lines of credit and term loans and up to $500K and terms as long as 3 years
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Financing that builds business credit
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Fast and simple funding in as quick as 24 hours
CPA Gardens has partnered with OnDeck to provide online lending service to all our Accounting Clients. We will integrate the program on your website and install a unique widget code, so you can get credit for each lead that signs up. You can provide OnDeck loan services to your clients to help them grow and invest in their business by funding projects and purchases, manage their working capital and be ready for opportunities or cost, both planned and unplanned.
For more information on how you can enhance your value to your client, contact CPA Gardens via email: hello@cpagardens.com or by phone: (971) 246-8525.