THRIVE, a Paychex Business Podcast

Data Says Small Businesses Can’t Bank on Traditional Loans. Here’s Six Alternatives

April 21, 2022

Despite 85% of small businesses in 2021 experiencing financial difficulties, data shows that big banks approved only 14.7% of loan requests in the same year. This week’s “On the Mark” episode looks at six alternative funding sources, including SBA loans backed by the federal government, localized grants, online lenders, and more. Host Gene Marks shares his thoughts on the pros and cons of each. Listen to this week’s podcast.

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The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.