Nearly every entrepreneur has experienced a cash crunch - a temporary shortage of liquid funds that affects our ability to meet our obligations and operate our companies. Traditional bank loans can be difficult to obtain for companies with poor or no credit. That's where alternative lending can come into play. Some alternative lenders find loans directly, while others connect borrowers with lenders who invest as part of a loan portfolio.
If you're not a fresh-out-of-the-box startup and you want to borrow from an established, reputable company, Neogrowth may also be a good choice. It offers a range of loan types and terms, and a business doesn't have to prove profitability in order to qualify. Further, just like other industries, lenders can make a name for themselves by creating a niche, and Accion has done just that. Accion is one of the few lenders who cater to startups, and they're also focused on serving green, women-owned, and minority-owned companies.
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