Zoot Enterprises’ Post

Big Banks Funding Private Lenders, A Shift In Business Lending!! Alternative lending drives small businesses due to accessibility, speed, and flexibility. Unlike traditional banks, alternative lenders offer quicker processes, tech-driven assessments, and customized solutions, catering to businesses with diverse needs and risk profiles. This enables small enterprises to obtain vital funding swiftly, fueling growth and innovation in competitive markets. https://lnkd.in/e_dvNNh3

If you are in Small Business Lending this report is a must for you to digest. Approximately half of U.S. banks were using or considering using financial technology in their small business lending process. However from the smallest to the largest banks, small business lending is generally underwritten and approved by people So why not augment that decision with powerful data. Reach out to me and I can help you and your small business underwriting.

To excel in small business lending, it's crucial for institutions to sharpen their focus, embrace cutting-edge technology and build strong relationships with borrowers. By implementing these approaches, FIs can become the go-to partners for small businesses, unlocking new opportunities and fueling growth. Learn more tips in our latest blog: <<<<https://lnkd.in/eZrsbgdT>>>>

Is your financial institution prepared to comply with the CFPB’s new small business lending rule? Learn more about the data points required and associated deadlines in our recent blog post. 

The Current State of Business Lending — and 5 Trends to Watch https://lnkd.in/g_n9Fa5z #TexasSmallBusiness #SmallBusinessOwner

Need more deposits? Don't overlook your small business segment. The data suggests that small businesses are willing to exchange stable deposits for access to credit. #smallbusiness #lending

Yesterday I shared information on the 3 types of lending. 1. Personal- your ssn 2. Business- your EIN leveraged by your personal credit 3. Corporate- solely on the EIN Corporate lending is one very few business owners know exist, let alone how to obtain it. He’s the problem, only 7% of banks/lenders/creditors report when a business makes a payment on time/early. So unlike personal credit, you don’t get brownie points for doing well. To obtain corporate lending you HAVE to be intentional. You have to know which vendors are reporting when you pay on time/early, to which bureaus, and when to leverage different tiers. So, what does corporate lending give business owners access to? It gives them access to 10x’s more working capital than business lending, extremely LOW interest rates, more favorable terms, and you don’t have to use your SSN personal credit for it. Corporate lending helps your company grow and scale like Wall Street, while keeping your assets safe. That’s what I do, I get businesses access to corporate lending. I take out the guess work. I know which vendors to use and when to use them to build your company up to corporate lending within 12 months.

Common question we are asked when talking to #banks and #creditunions.

Learn more about how small businesses can benefit from the SBA lending program.

Competition fuels free market economy. The alternative lending industry is currently at $300 billion market value, this is only the beginning of a new way of accessing capital. The market is forecasted to grow to $1 Trillion by 2030. Small business makes up 74% of our economy, it's the backbone of American business. Traditional banks are not the only way to get funded for your business idea or small business.