Online business lending will not be slowing down in 2017. In fact, more loans will likely be given out this year, as the need for capital to expand businesses increases. This does not come as a shock to online lenders.
Last year was an interesting time for the lending community. For the first time, big banks took it upon themselves to enter the industry of online business loans to compete with online lenders like Fast and Easy Funds. Business loans increased dramatically, and the merchant cash advance remained one of the most popular online business loans for entrepreneurs.
What 2017 has in store for us:
- For starters, most online business loans. The general consensus is that technology is speeding up the process of online lending, making it cost effective and easier for business owners to get the capital they need.
- Minority owned business are going to have more access to online business loans. Business loans for woman will be a focus for online lenders.
- For the first time in eight years, the republican party will have the presidency. For the first time in almost 100 years, one party will hold the house, the Senate and the Presidency. This should make for some interesting consequences economically, because a more fiscally conservative ideal will be held by all major branches of government. This could mean more freedom for online lenders; thus, more access to loans like the merchant cash advance.
It is certain that 2017 holds a new set of challenges for us all, but the outlook is optimistic on all sides. Learn more about the business loan options at Fast and Easy Funds and allow us to make sure your 2017 is a year of positivity and growth.