26% of Small Businesses used alternative financing in 2019
Since smaller businesses have less access to capital, historically, many alternative financing options have stepped up to help SMEs.
Online lenders in the alternative financing space make lending easier. Many online lenders like Rapid Funders have partnered with credit card companies to provide funding through credit cards.
This makes it easier for the small business to use their funding and for the lender to track approved transactions and minimize fees for both parties.
The key to the success of alternative financing of SMEs may be through virtual credit cards.
Learn more about this as written on the blog Wirecard