Popular Bank’s Online Lending Platform for Business: A timely solution for your business needs - Blog Popular Bank
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11.08.2018 /

Popular Bank’s Online Lending Platform for Business: A timely solution for your business needs

The numbers are in: Small business optimism remains on the rise.

A September 2018 Report by the National Federation of Independent Business1 confirmed a 23-month positive trend on its Small Business Optimism Index, spurred on by record-high numbers on job creation, profit growth, and inventory investment.

With over 30 million small businesses2 in the U.S., which now accounts for 99.9% of all U.S. businesses, and over 58 million small business employees, there’s a good chance you own or manage a small business, have worked for one, or feel inspired to start one in the near future.

But where or how do you even begin? And if you’re already an owner, how do you ensure that your business can sustain growth and profitability? Popular Bank COO Manuel Chinea boils it down to one key factor — money:

“… Businesses [always] have working capital needs… such as managing the natural ebbs and flows of their cash [or] financing long-term assets.”

Popular Bank wanted to find a way to address these ongoing needs with a tailored lending solution that offers a fast, secure, and transparent way to apply for and access financing.

In partnership with Biz2Credit Inc., we’ve devised a timely digital platform — Popular Bank’s Online Lending Platform for Business. With an intuitive interface and easy-to-follow application process, our customized platform meets your business’s financing needs in distinct ways:

1. Faster access, better technology

As a business owner, time is your most valuable asset, and you never seem to have enough of it. You might be overwhelmed with seasonal operational demands or struggling to stay relevant for both the brick-and-mortar and online business environments. You’re then tempted to draw on personal funds to stay afloat. This is where we can help. Our Online Lending Platform for Business is accessible 24/7 from your home computer or mobile device, and features a streamlined, mobile-responsive experience for a simpler, faster application process. In the event you don’t meet our specific criteria for approval, we can refer you to alternative sources of funding with your consent, which will help keep your business moving in the right direction.

2. Transparency and flexibility

In your search for a financing option, your priority might be control, more than time or speed. For example, you’d prefer total ownership of your application process — from completing your application in increments to tracking its status at different stages of review. We’ve personalized our lending platform to allow for this kind of flexibility and transparency. Start your application at work, complete it while you’re on the go, or have the freedom to revise it, anytime in between.

3. Strategies and guidance

If your business needs are more long term — upgrading equipment, improving payroll services, or expanding your physical footprint — or you have other needs you’re struggling to identify, our new platform provides helpful self-check tools for assessment and guidance. You can leverage the platform’s financial tools that can assist you in determining what kind of loan is best suited for your need. You can also connect with a Popular Bank Relationship Manager, who’ll help you create long-range strategies for financing and business evaluation. Popular Bank’s Online Lending Platform for Business is more than just a set of features — it’s a portal and resource for helping you evaluate your financial health and receiving guidance.

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