August 23, 2018
When people think of alternative lending, the things that unnerve them are the unsecured loans that are to be paid back on paydays or the ones procured from loan sharks that hound their customers like a pack of ravenous wolves. But for the millennial, the alternative lender looks like a friendly orca that rides the online waves. Today, alternative lending is all about commerce – not credit. They have evolved with changing times to deliver connected digital experiences with aplomb.
Alternate lending is the broad spectrum of loans offered to SMBs and consumers, which is beyond the scope of a traditional bank loan. This enables businesses to satiate customized financing needs moving their rudder against the wave of a conventional bank loan’s monopoly.
Alternative lending is gaining considerable traction in the e-commerce segment, with the focus on smaller retail players. The smaller businesses strive to find affordable funding solutions to keep their business up and running. Alternative lenders are a welcome respite from the traditional players with smaller approval cycles and retailer-friendly criteria, provided the lenders verify a seamless flow of revenue. For instance, P ...