The Ultimate Alternative Finance Guide

Chapter 3: Getting Started with Alternative Finance

Introduction

Is online lending safe?

Online lending is safe if you work with a reputable and reliable lending company or platform. As with any other life or business decision, finding a safe online lender requires some due diligence.

Alternative Finance Safety and Security

How do I find safe online lenders?

Before applying for a loan, use the Internet to do some quick research about the potential lending company or platform. You’ll want to look for the following:

  • A physical address: Visit the ‘contact us’ page of the website and search for the physical address. Then, verify this with a Google search.
  • Customer reviews: Do a Google search for “[insert company] customer reviews”. A legitimate lender will provide the name of the borrower and the small business if applicable, so that the review can be verified. For example, the FundThrough customer reviews page lists the name of each business owner and their company.
  • Third-party verification: Reliable companies will go out of their way to receive third-party certification. For example, FundThrough has an accredited business profile through the Better Business Bureau.
  • Visit social media: Most safe and reliable lenders will have an active presence on social media platforms such as Facebook, Twitter and Instagram. If you see photos of real people working at the office, that’s a pretty good sign!

Applying for Alternative Finance

How do I apply for funding online?

You will need to create an account with the lending platform or company, and fill out an online application. Fortunately, applying for funds online has become very quick and simple.

For example, with FundThrough you can create your account online in two minutes and receive invoice factoring approval within 24 hours.

Related topics