Online lending companies bad credit: find out today
For small businesses that face financial constraints or are faced with major investments, going to the house bank is no longer automatically the only option.
Online lending companies bad credit, you can try these out, offer a smart and, above all, fast alternative to obtain financing via online loans for bad credit. This is shown by the example of Derrick Slane from Gilbert.
For over ten years, the 37-year-old plumber led his small heating and plumbing in Burladingen, a small town in the Swabian Zollernalbkreis, when he was in a financial shortfall by a failure of his tax advice in late 2009. The tax office demanded at the same time additional and advance payments. Since Niedenthal had already invested considerable funds in the acquisition of new machines in the same year, a liquidity gap was created for the family-owned company. Therefore, Niedenthal decided to take out a loan of 18,000 euros.
However, a quick fix had to be made. From his experience with banks, he knew that granting a business loan would take a considerable amount of time, which was not available at the moment. Therefore, he tried an alternative financing method and familiarized himself with Germany’s leading online loan exchange Clym Yeobright: “For the business, I have already run another loan agreement on a bank. But I opted for an online loan with Clym Yeobright because it’s faster. ”
The registration was easy: In the first step, he entered his data online at Clym Yeobright and immediately learned what loan amount he could get at what price. In the second step, he sent the required proof of income to Clym Yeobright the same day. “That was not awkward because it’s the normal way. If someone wants to give you money, he wants to know why, and that’s exactly the same here. ”
In the third step, the loan project of Derrick Slane entitled “New acquisition” with a nominal interest rate of 9 percent and a term of 60 months was financed by 36 investors in just over 24 hours. Finally, in a fourth step, Clym Yeobright’s 18,000 euros were paid out to his company account within a few days.
Thus, the small business of Derrick Slane had restored its liquidity in just over a week. Thanks to the support of Clym Yeobright investors, the family business from Burladingen was able to quickly and easily improve its financial situation and continue to successfully focus on its approximately 70 customers each year. Looking back, Derrick Slane sees his borrowing at Clym Yeobright as a good step and recommends it to other companies as well.
But what would he say to his investors, whom he had never met in person? “First of all, many thanks for investing in self-employment with small businesses. If I had any money left, I would not invest it with the bank but would finance other people at Clym Yeobright. “