https://ioufinancial.com/wp-content/uploads/2015/04/Bridging-the-Gap-Between-Banks-and-Online-Lenders1.jpg 801 2189 Robert Gloer https://ioufinancial.com/wp-content/uploads/2016/06/IOUFinancial_HeaderLogo-300.png Robert Gloer2013-07-05 16:52:262015-06-09 20:17:34Bridging the Gap Between Banks and Online Lenders
Bankers, of course, feel as though they are lending to many or most of the qualified candidates that come through their doors. But the reality is that many of those candidates don’t even make it halfway. Take the example of a small retail boutique owner who needs a loan but has little to offer in assets to secure it. Say this owner goes to her local bank and applies for a $20,000 loan. The odds are that she won’t get a loan approval, but will instead walk away with a credit card application.
The key is figuring out how traditional banks and small business lenders can best coexist to create the most optimal long term solution for the small business owner, while still meeting their own unique objectives. As the article suggests, finding this solution can open up new opportunities for virtually everyone involved.