USA Versus Asia: Where Lending Is Headed
Banks in America simply aren’t cutting it on a global scale. While most other international banks are more forgiving in nature, less strict about who is able to obtain a loan, and more capable of offering no-collateral loans, American banks just don’t seem to have what it takes to keep things profitable. As a result, finance groups have begun to notice a major shift in how business lending is done...and it’s happening on a global scale.
What business analysts have been noticing is that American banks are increasingly struggling to get international accounts. Instead, new businesses are beginning to head to Asian and European banks for their funding. And, in both North America and Asia, alternative lending has become incredibly popular among old and new entrepreneurs alike.
In Asia, alternative lending is being seen in the forms of business to business investing, microloan companies, and also alternative, non-bank lenders. In the US, it’s done with merchant cash advances. And, in both regions, the competition to show which group can fund the most businesses is as fierce as it can get.
Though banks may have you thinking otherwise, the truth is that American banks simply cannot compete when it comes to international lending. Their rates are too high, they require way too much collateral, and the money is disbursed on a painfully slow rate. However, when it comes to alternative lending, America is definitely leading the pack according to a number of experts. Here’s why…
- US lenders who offer cash advances offer more money than most others. So, if you’re looking for a cash advance that will be able to cover everything you need, then going for a company that is primarily focused on American markets is a good idea.
- Though they do offer business funding, American cash advance companies don’t work with the same high level restrictions that banks do. In other words, they don’t check credit scores, business history, or collateral. They also allow clients to do whatever they want with the money.
- Cash advances in the US are also still regulated. This helps protect consumers against legal “loan sharking” scams that are sadly common in other parts of the world. And, this also means that cash advances are more reliable in the US.
If you want to get business financing and are looking for the best deals possible, it’s clear that merchant cash advances are a great option to look into. After all, American cash advances are clearly some of the best in the world. If you want to get an internationally recognized, high quality cash advance, give Red Payments a call. We’re here for you!