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Small Businesses Turning to Alternative Lenders

small business loansThe amount and value of small business loans have been dropping off recently. That’s only one sign that banks and other traditional lenders don’t think too much of doing business with small companies. It is therefore not surprising that small business owners are turning to less traditional sources.

Alternative lenders are picking up the business.

According to  Patrick Clark for businessweek.com, “So-called alternative lenders?including Kabbage  and On Deck Capital , peer-to-peer lenders , and firms that specialize in merchant cash advances?have picked up some of the slack, usually at pricier rates than traditional bank loans.”

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