With the lending industry growing rapidly there is also increasing competition. So, it’s not only you who wants a lender but even online lenders want you. Discover five things here to consider before choosing your online business loan lender:
- Experience and credibility- This is the most important factor to consider before hiring the lender. There are some fake or dishonest lenders operating online who can cheat you in many ways. Do your research online, check reviews from their past customers. A credible lender is who will give you every fact and will be honest with you for everything.
- Customer service- A good customer service will tell you if the lender is interested in solving your financial problems or just wants to make money. Clear communication between you and the lender is the first sign of a good customer service that is given by them. Here are a few questions that you can ask:
- Whom can I contact, how many people will I be involved with?
- Can I contact him/her outside business hours?
- How can I contact- via email or phone?
- Interest rates- Interest rates determine how much amount you will have to pay at the end. But that does not mean you should just see lower interest rates and go for it. You should first research the market rates and what others are offering and then consult with your lender.
- Response time- Consider the response time from your lender to any of your questions or queries an important factor. This tells you if the lender is genuinely interested in solving your problems or not.
- Good documentation- Lastly, your lender must be providing you clear and legal documents that inform you what and how much you need to repay and also what the lender promises to do.
Why you should consider Pineapple Funding?
Pineapple funding is an online loan broker who connects you with a suitable online loan lender. We will provide you with a variety of options for you to choose just like window shopping and can also compare the interest rates provided by them.
With Pineapple Funding you just have to follow these simple 4 steps:
- Apply with your details.
- Get a call from us to know your loan requirements better.
- Get a variety of options to choose from our trusted loan lenders.
- Apply online for your loans with your chosen loan lending manager.
Yes, it is that simple. You do not have to waste your time and effort on finding the online lender for you.