Funding Wizards are the owners of a website that offers small business loans to small business owners and their website is becoming increasingly popular due to the high approval rates which it provides. The website is https://www.fundingwizards.com/ and the approval rate for small business loan applications is 80% which is far higher than the approval ratings for most of the traditional banks and perhaps better than all the traditional banks.
Another reason why this website is becoming as popular as it is because often no collateral is asked for as the site merely connects the borrower with one of its many listed lenders, ensuring that the business meets the very limited requirements which the lender asks for. As the details of the loan are requested on the application and the lender’s specifications are already known by the website, the site quickly gets confirmation from the lender that their specifications have not changed and then approve the loan, usually within 24 hours from receipt of the loan application.
Although there are many reasons why a small business may need a loan, some of those reasons are somewhat urgent and require that funds be made available as soon as possible and those are the times when these online business loans are of the most benefit compared to bank loans which would rarely be able to approve the release of the funds as quickly.
Even though these loans can be approved so quickly and even though they can be for amounts between $20,000 and $200,000, they can still be applied for at any time ensuring the best possible service for any business owner needing a loan. With the increasing number of business owners making use of this website and other similar websites, the traditional banks are starting to rethink their procedures as if they do not and continue to have to make business owners wait for a loan approval or not approve their loan requests, still more business owners will resort to seeking their loans online, leaving the banks with a huge void in their small business sector and their services on a whole.