We’re wrapping up another year of helping our amazing customer base in 2017, with an eye on the New Year. Since 2014, we’ve been providing all the latest alternative lending programs that has made us so successful. Many things have changed, especially in the last year – but business cash advances and unsecured online lending is bigger than ever.
Here’s some of the bigger things that happened in our industry in 2017:
Tougher Competition – we’re used to providing comprehensive customer service and affordable rates for our customers – and those that aren’t, are closing up left and right.
Some of the biggest corporations in the world, from Amazon to Wal-mart to Paypal, are getting directly involved in alternative lending. Banks and credit cards are lending directly to their customers. Alt lending companies like Kabbage are opening up markets nationwide. Other nations like Canada and China also now have booming unsecured lending markets.
Bigger and Badder Data Breaches – the backbone of the cash advance economy is confidential digital data. While the big Equifax breach took up many people’s attention, many people have forgotten just how serious this problem has become. Multiple large-scale hack attacks, such as the “Wannacry” ransomware attack, effected millions of people around the world. Companies like Facebook and Twitter are now under constant scrutiny for the way they have been collecting, using, and in many cases, passing on, incredibly complex data on billions of individuals.
Long story short, people have good reason to be more wary than ever about sharing private and sensitive information on the internet. We’ve always taken our partner’s and customer’s security with the utmost seriousness.
Debt Relief Shenanigans – Every year, new unsecured lending programs come along that help widen the ways in which companies like ours can help our customers. However, not all of these ideas are helpful. Cash advance “debt relief” companies have become a serious problem. In fact, some of the earliest, and biggest debt relief companies of this type are becoming tied up in very serious litigation for encouraging merchants to default on their cash advances. Some of them have even taken to chasing merchants that have already defaulted through public court records, and offering them false promises of settlement.
These companies have created serious problems for many small business owners, tricking them into not paying advances that can risk their very own company. We do not recommend ever working with these types of companies, and do not do so ourselves.
We’re looking forward to offering the same great services like business cash advances, unsecured lines of credit, unsecured term loans, credit card processor savings, cash advance consolidation, SBA loans, and more in 2018. Call us any time to find out what you qualify for!