Quick Thoughts on The Alternative Lending Report

In a note to readers a recent article in The Alternative Lending Report talks about lenders beginning to loosen borrower requirements in 2018.  We have seen this same assertion from other authors over the past couple of years and yet we have still not seen this practice actually come to fruition.  It is an accepted notion that The Great Recession had a major impact on the lending environment as banks tightened standards and closed avenues for small businesses to borrow working capital.  Alternative lenders like Payplant were able to fund companies that could not find a bank loan or were not ready to raise equity at a low valuation.

Despite all of the previous prognostications, we have yet to see a change in banking underwriting.  The time it takes to apply and the likelihood of being approved at your local bank or credit union remain drawn out and murky.  Payplant offers on demand financing that is fast and affordable when a bank either turns you down or gives you an unclear answer on your application.