Why aqeel can be a better choice for SMB financing over traditional banks
Small and medium-sized businesses (SMBs) face unique challenges when it comes to securing financing. Whether it's covering the costs of inventory or managing cash flow through receivables financing, SMBs need flexible solutions that can adapt to their needs. Traditional banks, while well-established, often fall short in addressing the specific demands of smaller businesses. This is where aqeel, an online lender specializing in inventory and receivables financing, steps in to offer a better alternative.
In this post, we’ll explore three key reasons why aqeel’s financing solutions can provide a great additional funding solution to traditional bank offerings: quicker underwriting, simplified application processes, and financing tailored to your revenue cycle.
1. Faster Underwriting and Turnaround Times
When it comes to securing financing, time is often of the essence. SMBs may need capital quickly to seize opportunities, such as bulk purchasing inventory at a discount or responding to seasonal demands. Unfortunately, traditional banks are notorious for their slow and often cumbersome underwriting processes. It can take weeks - or even months - for a bank to review an application, approve it, and finally release the funds. This delay can be detrimental to SMBs looking to remain agile in a fast-moving market.
At aqeel, we pride ourselves on our rapid underwriting process. We understand that businesses need quick access to capital to stay competitive. Our streamlined approach allows us to approve financing much faster than traditional banks. In many cases, businesses can receive approval within 1-3 days, not weeks. Once approved, we typically process and pay out individual funding requests within 24 hours. This speed gives small businesses the flexibility they need to act on opportunities as they arise, without being held back by unnecessary delays.
2. No Extensive Paperwork or Collateral Requirements
One of the biggest pain points for small businesses seeking financing from banks is the mountain of paperwork required. From detailed business plans and financial forecasts to extensive documentation about the company's operations, the process is often overwhelming for smaller businesses. Not only that, but many banks require collateral - often in the form of personal or business assets - to secure a loan. This can put business owners in a difficult position, especially if they lack sufficient assets or are unwilling to risk their personal property.
aqeel takes a different approach. We know that SMBs don't always have the time or resources to provide extensive documentation or collateral. That’s why we’ve simplified our application process. With aqeel, you won’t need to provide mountains of paperwork or pledge significant collateral. Our application process is straightforward and can be done in minutes, allowing businesses to focus on what matters most: running and growing their operations. We believe in empowering SMBs with financing solutions that are accessible and hassle-free.
3. Financing Tailored to Your Revenue Cycle
Every business has its own unique revenue generation cycle, and this is particularly true for small businesses. Some businesses may have seasonal spikes in sales, while others may rely on long-term contracts with delayed payments. Traditional banks tend to offer rigid loan structures that don't always align with the flow of revenue cycles, making repayments difficult for small businesses.
At aqeel, we understand the importance of flexibility. Our financing solutions are designed to be tailored to your business’ revenue generation cycle. Whether you need inventory financing to prepare for a busy season or receivables financing to manage cash flow while waiting for payment, aqeel can customize a solution that works for you. Our goal is to support your growth by providing financing that aligns with your business’s natural rhythm, rather than forcing you into a one-size-fits-all approach.
How aqeel can help your business
For businesses seeking flexible, fast, and accessible financing, aqeel offers a clear advantage over traditional bank financing. With quicker underwriting, a simplified application process, and tailored solutions that align with your revenue cycle, we’re committed to helping businesses like yours thrive. Don’t let the slow and cumbersome processes of traditional banks hold you back - partner with aqeel for financing that works on your terms.
Are you a business that’s been operating for over 2 years and selling B2B? If so, we encourage you to explore our financing options. Contact us today at hello@getaqeel.com to find out more how we can support your growth with tailored inventory and receivables financing solutions.