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4 reasons why you should explore your business finance options online

When it comes to finding finance solutions for your business, there’s more choice out there than ever before, particularly when it comes to alternative lenders. 

But where do you even begin to look? And how do you ensure you’ve covered all bases to get the right type of finance, with the best rates?

In recent years, there has been a significant rise in the number of small and medium-sized businesses using funding aggregator platforms. Exactly like how you would shop around for insurance using a site like Compare The Market, but tailored for business finance.

We’ve created a helpful guide outlining how online funding aggregators work, their benefits and how they are a great online funding option for small businesses.

What is a business finance aggregator?

Business finance aggregators have reported a stark rise in registrations from borrowers as more businesses than ever before are looking for finance, amid the Coronavirus pandemic.

Specialising in helping to match borrowers with alternative business finance solutions, including peer-to-peer lending, either through direct applications or through the Bank Referral Scheme, business finance aggregators are platforms that can help businesses of all shapes and sizes find the right finance option for their needs.

Why do businesses use a finance aggregator?

Demand for alternative finance solutions has increased over the past 12 months, with more and more business looking for support, particularly when it comes to working capital.

Acting as the middleman, a finance aggregator can save businesses both time and money, helping them to find the right finance products for their bespoke needs.

How do online funding aggregators (online funding platforms) work?

Financial aggregators are service providers that specialise in providing businesses access to all financial products on the market, so that they can suss out the very best deal for their needs.

All of these products can be viewed in one place, making it easy to compare different products.

Benefits of using an aggregator

Using an aggregator offers businesses a number of benefits, including:

Cost reduction

One of the main advantages of using an aggregator is that saves a significant amount of time and money when it comes to exploring the market for suitable financial products.

Allowing you to view all suitable financial products, from one easy-to-use platform, an aggregator does all of the hard work for you.

Quick and easy

Aggregators specialise in streamlining the process of analysing suitable financial products, meaning minimum input is needed from the individual or business.

With this in mind, there’s absolutely no need to spend hours and hours combing the internet or comparing multiple websites in order to find the best financial offers for your business needs. The aggregator will take care of all that for you.

Customisable

When looking for the most suitable aggregator for your business, it’s important that you choose one that is able to meet your specific requirements. For example, you might be looking for a certain type of financial product such as a credit card or loan.

These platforms will customise your search in line with your bespoke business needs. So, for example, if you’re a small business looking for the best startup loans, an aggregator will bring up the best funding solutions for you.

Competitive overview of the market

Finally, one of the biggest advantages of using an aggregator for funding purposes is that you’ll be able to gain a first-hand, competitive overview of the market.

You will be able to explore a whole host of different products from some of the industry’s main competitors.

How can Fluidly help you find funding?

At Fluidly, we can take the hassle out of searching for business finance with our quick funding options tool.

Simply tell us your company name and we can match you with pre-qualified funding offers from a range of lenders, including invoice finance facilities in seconds.

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