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Misconceptions about alternative lending, explained by our small business accountants in Melbourne

As small business accountants in Melbourne, we want to ensure that everyone is aware that alternative lending is for your benefit. That is why we want to clear up any misconception that people have about this type of loan for their business or personal efforts.

While this concept has grown in today’s society, it is still prominent in a lot of business owners that it revolves around negative connotations. So here are people’s misconceptions about alternative lending:

• Only bank-rejects use alternative lending – this is not true as a lot of business owners go with this option now due to the flexibility and efficiency that they offer
• That people who use alternative lending are seen as desperate – which is seen as false because if alternative lenders only lent out their money to people on their last leg they would be out of business already
• You need high margins to borrow from an alternative lender – which is false again as they are there to help all types of businesses and people
• Alternative lending is unregulated – no matter the loan all are undertaken in a formal manner, it must always adhere to national and state laws

Lots of people have their thoughts about this type of lending, but it is only here to help you get through the tough times and provide you with an alternative. Which is why our accountants for small business in Southbank would recommend this option for you if it would be best suited.

As always, feel free to contact our small business accountants in Melbourne if you have any enquiries.

 
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