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Even though bank loans typically have lower interest rates than alternative lender loans, there are major benefits and quite a few scenarios where an alternative lender loan is the right choice for your small business.
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A common mistake new business owners often make is only worrying about cash flow when reserves are getting low. When businesses are hurting with cash flows, it isn’t usually getting paid that is the issue, it’s when they’re getting paid. Inconsistent payments can lead to missed payments for bills, delayed employee paychecks, and/or a halt in your growth from inventory problems and not being able to satisfy all of your customers.
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