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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