Not too long ago, if you needed funding for your business, your first—and often only—stop was the bank. You’d gather stacks of paperwork, sit through a number of meetings and wait, sometimes weeks, for an answer. Even then, a single misstep in your credit history or a dip in last quarter’s revenue could sink your application.
But the world of small business finance has changed dramatically, and many business owners today are turning to private credit.