Struggling with business debt from a loan you found through Fundera?
If your business is struggling with business debt after working with a company like Fundera, it can be difficult to manage your other expenses and to see a way out. Companies like Fundera work to match businesses with funding options like a business loan. But if that funding option isn’t working out, you may be worried about the financial future of your business. The team at Tayne Law Group P.C. has more than two decades of experience resolving business debt for businesses just like yours.
Fundera claims to help small businesses find funding by allowing businesses to compare business loans. However, some of the loan options recommended are quick-fix solutions that may be difficult for businesses to keep up with especially with high-interest rates and demanding repayment schedules. Getting behind on your payments can trap your business in a debt cycle, or lead to default or worse — a lawsuit.
The loans offered through Fundera may not be the best option for your business, because the last thing you need is more debt. Alternatives, such as short-term loans or lines of credit, may be more favorable if you can qualify. Businesses that are concerned about qualifying for traditional bank loans may consider short-term loans but those loans often come with strings. As a result, the shorter repayment periods mean lenders are often more lenient. Lines of credit are a flexible option similar to a credit card with moderate interest rates. Therefore, consider resolving the debt you have without taking on more debt.
Tayne Law Group, P.C. has experience resolving many kinds of business debt, including the financing options recommended by Fundera. Our team of debt professionals knows how stressful it can be to feel like you’re drowning in payments. Additionally, we will work with you every step of the way, making sure your goals and repayment options are in your budget. We want to help your business avoid bankruptcy, stop the borrowing cycle and get back on track, without taking on any additional debt. Contact us today – the call is always free! 1-866-890-7337
FAQs about Fundera
Fundera provides comparison technology and guidance to small businesses to understand funding options like small business loans. The company does not lend money directly but instead serves as a marketplace and resource for small businesses. Businesses provide information through an application process. Then the company returns possible financing options that the business would be eligible for. Additionally, funding options include SBA loans, term loans, business lines of credit, invoice financing, startup loans, and equipment financing.
The company allows small businesses to compare rates and terms from different funding options and lenders. Additionally, the application is free.
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