Best Bank Business Loan Alternatives

It used to be getting a bank business loan was simple. All you had to do was visit your local branch. You would ask what type of business loans they were offering. You would ask about their rates. And you may even ask what specials they were promoting that month. There was really only one place to go and that was the bank. If you were lucky there would be two different banks in your town so the rates would be competitive.

But today’s world is completely different. Times have certainly changed. Both physically and digitally. The current state of the lending market is evolving to meet the needs of the modern day consumer. You can apply for a loan online and never have to set foot in a bank. Not only that but you also have a wider variety of alternatives to a traditional bank business loan.

What are the alternatives to bank business loans?


Peer to peer lending is on the rise these days. Businesses are looking to the average consumer to help grow their business. Crowdfunding focuses on pooling the collective funds from a variety of different parties. This is primarily completed through digital platforms including social media.

Businesses will leverage their own personal networks to begin with. The sharing will continue through their friends and family. There are a variety of crowdfunding options to offer incentives to people to help fund your campaign.

  • Donation
      • A donation with no expectation of return. This funding is often typically seen for non-profits. It is also often used by disaster relief groups. But it can also be used for businesses.
  • Rewards
      • The reward option that typically offers lenders early access to a product, a discount or free product. Businesses who raise funds this way are not offering equity into the company.
  • Equity
      • This method allows lenders to become part-owners of the business.

As a business owner, it is important to know what type of crowdfunding you are doing. You also have to be transparent to your lenders. Leading them to believe they were getting equity when they were donating can lead to lawsuits down the line.

Business Credit Cards

A business credit card can be a powerful tool to empower your employees to make purchasing decisions. It also gives you quick access to cash to be able to buy necessary supplies. But having a physical card that your employees are responsible for can be a risk. Fraudsters, whether online or in-person, are always looking for unsuspecting credit card holders.

Merchant Cash Advance

A Merchant Cash Advance is an alternative to a bank business loan. Though similar to a bank business loan, a Merchant Cash Advance does not have the same strict regulatory standards. At eBusiness Funding we only require that your business does at least $10,000 a month in revenue and has been in operation for 6 months or longer.

How Does A Merchant Cash Advance Work?

  1. Applicants apply through our simple form on this page.
  2. We review the application and respond within 24 hours letting you know if you have been approved.
  3. If you are approved, you can receive between $5,000 to $500,000 in three days or less.
  4. You can then start using the funds to meet your business needs.
  5. In exchange for the funds, we will take a fixed percentage of your business’ daily sales (Monday-Friday).
  6. This process is continued until the advance and fees are completely paid off.

We believe that a Merchant Cash Advance is a great alternative to a bank business loan. As a business, understanding what is going to be the best option for you is important. If you feel a cash advance could be right for your business’ loan needs, contact us!

Getting Started

Call eBusiness Funding at 305-985-6604 or complete the contact form on this page now!


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Best Bank Business Loan Alternatives
A bank business loan is not the easiest thing to be approved for. But there are other alternatives to get the business funding you need.
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Andy L.

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