In March 2023, Silicon Valley Bank (SVB) collapsed after it was revealed that the bank had been overexposed to risky investments. The bank’s auditors, KPMG, had failed to flag the risks that were building up at SVB, and the bank’s collapse left many business owners in the lurch.
The collapse of SVB has highlighted the importance of having a strong financial partner. Traditional banks have been slow to adapt to the needs of small businesses, and they often have high fees and restrictive lending terms. SimplyBanc lenders, on the other hand, are using technology to provide small businesses with the financial services they need, when they need them.
SimplayBanc lenders are able to offer a number of advantages over traditional banks, including:
- Faster approval process: Our lenders can often approve loans for small businesses in minutes or hours, while traditional banks can take days or even weeks.
- More flexible terms: The lenders are often more willing to work with small businesses to find loan terms that fit their needs.
- Lower interest rates: Our lenders can often offer lower interest rates than traditional banks.
- Better customer service: SimplyBanc has a more customer-focused approach than traditional banks. We find solutions.
As a small business owner, it is worth considering a lender like SimplyBanc. We’re able to offer you a better deal than a traditional bank.
For small business owners who are looking for a loan, it is worth considering SimplyBanc as your first choice in lending. We have multiple products, easier terms, payment schedules, and great service that works toward being your financial partner by always staying ahead of changes and bringing you ideas and solutions. SimplyBanc, makes it Simple