I think that the two greatest frustrations for small business owners needing financing are in not knowing how to navigate the very confusing waters of the alternative lending market and in finding someone to work with that they can trust. They need financing but they don’t know where to turn. I have heard that comment more than once. They come to us looking for a voice that makes them feel like we will put their interest first, we will communicate with them and we’ll make the process seem understandable and uncomplicated. One of our borrowers told me in our initial phone conversation that I was the first alternative lender he had spoken with “that didn’t make his skin crawl”. I have closed two loans with that borrower.
Another regular borrower indicated that she would rather do business with us and one specific funder that we used for her loans because she really felt good about working with us and we always took her calls and got back to her quickly with emails and the funder treated her so nicely at the loan closing.
Some of our borrowers have received a loan offer before and they have come to us because they felt the first loan was too expensive and our website implies that we have the lowest rates in the alternative market, and we do if they qualify. However, most of our borrowers have not applied elsewhere and they come to us because they haven’t found a company that they are comfortable to work with. We are helpful, informative, we’re not pushy, we ask questions, we listen and then we solve their problem if we can or we explain why we can’t help them.