There are also other ways to take out a business loan. More and more progressive entrepreneurs arrange their financing via an online lender. Among these providers, Swishfund is one of the first and most well-known financiers. Swishfund was founded by entrepreneurs, for entrepreneurs. That's why we know what the pain points and needs are. Our goal is to be the most attractive alternative lender for you.

With the benefits of a business loan below, we want to give you a better idea of this alternative form of borrowing. And we're also honest enough to share the disadvantages with you!

Benefit 1: Take advantage of market opportunities immediately

Imagine: you've launched a new, self-developed product on the market. You've made a substantial investment to launch the perfect product. The product is selling well and has found its way to the customer through various channels.

You are also well earning back the investment you have made. And now? You want to take the next step with the product or brand. You want to add new products to the range or hire staff to put all the work away.

To take a new or next step, extra money is needed. Money that you don't have at the moment, but you know you'll have earned within a year. Why wait a year when you know that your target group would buy the products immediately?

One short-term business loan is a good solution for this. If you apply for a loan from a non-bank lender, you will have the money in your account within a few days. It is also possible to adjust the repayment to the turnover you make. Start developing and developing your plans this week. Let's go!

Benefit 2: Stacks of paperwork to borrow? That's really not necessary!

You ensure that your customers are satisfied, that your staff works as efficiently as possible and that there is enough money to make. Then you really have no time (and no desire) to collect stacks of paperwork to apply for a loan.

At the bank, you can't avoid collecting those stacks of paperwork. They have many requirements and conditions before they grant a loan. For example, submitting an investment and business plan. But you also need to be able to demonstrate that your company is profitable in the future.

Are you applying to Swishfund? Then we only need your business transactions for the past 12 months. Based on this, we do a quick credit check to give you a free proposal to send.

Benefit 3: short-term business loan up to €1,000,000

Borrowing entrepreneurs is about a period to bridge, to finance inventory or stimulate growth. They need a short amount of money to manage cash flow or start the growth spurt.

Examples of the requests we receive:

• An exporter who only gets paid when the shipment arrives at its destination needs €300,000 to cover that period and cover the costs.
• A hospitality business that borrows €20,000 to completely renovate its terrace. This way, he can comply with the new guidelines.
• A marketing agency that will invest €50,000 in the marketing and sales team. To do that, he needs new staff and new assets.
• A webshop that must purchase its inventory worth €25,000 and pre-finance it.

Swishfund is characterized by its flexibility. You can apply for a loan of up to €1,000,000 with a term of between 3 and 24 months. The bank is often a bit stiffer and harder to convince to issue a loan. In addition, the starting amount is much higher and the term longer compared to an alternative lender.

Swishfund's flexibility lies not only in the amounts and duration, but also in repayment. For example, there are various ways to repay your loan. If you have an ATM, you can redeem a percentage of your PIN amounts immediately via ATM scrolling. But you can also let the repayment grow with the turnover; you pay a pre-agreed percentage of the turnover as repayment. This way, the repayment changes with the situation of your company.

Benefit 4: arranged your business loan in 10 minutes

You want to know where you stand quickly and we get that. You already have to make a lot of preparations at the bank if you want to submit a loan application. Have you collected all the documentation? Then you can apply for the loan fairly easily, but it takes a long time before it has been analyzed and there is a proposal.

Are you applying to Swishfund? Then you will have applied for your loan within 5 to 10 minutes and you will know what the options are for your company within 24 hours.

Swishfund works with an in-house development team that works daily on smart technology. This technology ensures that we can do an automatic credit check. Our analysts then check the details and make a customized proposal.

Benefit 5: Your own contact person

Entrepreneurs enjoy sparring with others about their ideas, ideals and the future of the company. We see that the bank does not always go along with the modern and innovative way of doing business. They see this as too big a risk. We think that's a shame!

Entrepreneurs often have great ideas that can provide an extra boost for their business. Alternative, online lenders are smaller organizations with more personal attention. We can only speak for ourselves, but at Swishfund, the customer comes first. Each request is dealt with personally by one of our account managers.

At Swishfund, every entrepreneur has their own point of contact. This account manager is fully aware of the situation. Based on your conversations, the transaction overview and other information, a proposal will be made. Each proposal is tailor-made, but with the help of modern technology.

These were the 5 main benefits of a business loan with a non-bank or alternative lender. After reading this article, you would think that there is no disadvantage to a non-bank loan. If we have to mention a point... Compared to the bank, an alternative lender is a more expensive option.

Because alternative financiers are willing to take more risks and be more flexible, the interest rate is usually somewhat higher than that of the traditional bank. The interest rate per request therefore depends on the risk profile. Every entrepreneur considers for themselves whether the advantages outweigh the disadvantage.

Given the large number of satisfied customers that we have served so far, we think we are in the right place!

Are you taking the next step?

Do you now want to take advantage of new market opportunities or take steps as quickly as possible to achieve your annual goals? Start your application with Swishfund now and discover the opportunities for your company. We support SMEs by offering them a suitable loan simply and with personal contact!