Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
One of the biggest challenges faced by any small business is knowing when and how to expand. Expansion requires capital, and not every entrepreneur has the access to the amount of capital needed to grow their business. Unfortunately, without growth, it can be hard to turn a profit.
You can see how this could be a problem.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
However, small business owners have been the latest beneficiary of the fintech revolution. A sector of companies that lend to small businesses have harnessed the power of big data and cloud computing to power sophisticated underwriting models. These algorithms allow lenders to inject capital to a wide spectrum of small business customers. For some entrepreneurs, access to capital is less than 24 hours away with these lenders.
You may have heard of companies like LendingClub Corp (NYSE: LC), which has facilitated nearly $2 billion in loans, and On Deck Capital Inc (NYSE: ONDK), but there are even more options available for people looking to give a little jolt to their business. Here are a few:
1. Credibly offers customized funding solutions through their Working Capital Loan with 6-17 month payment terms,and Business Expansion Term Loan with 18 or 24 month terms. Fixed payments are deducted from the business' bank account on a daily or weekly basis, giving business owners better control over cash flow. Credibly is a pioneer in data underwriting, having used its model to fund over 7,000 small businesses with over $300m since 2010.
2. Smartbiz advertises loans with a variable rate of Prime Rate plus 2.75 percent to 3.75 percent up to $350,000. A $150,000 loan could be paid back as little as $1,684.20 per month with no pre-payment penalty.
3. Fundbox offers small businesses owners a different type of loan. Business owners create an account, add their unpaid invoices and an advance for the amount of the unpaid invoice is transferred to the business' bank account.
4. BlueVine offers two working capital options for business owners, depending on need. Their lines of credit (up to $50,000, with rates as low as 6.9 percent) provide flexible repayment terms, allowing either full or partial payments after drawing credit with no penalties. They also offer invoice factoring, advancing at least 85 percent of the invoice value upfront. In addition to giving business owners options and flexibility, BlueVine's customer service gets great reviews.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.