NerdWallet (@smallbiznerds on Twitter), recently posted an article describing important differences between community lenders like OBDC and traditional lenders, like commercial banks. This great post features OBDC’s Scott Lewis, and makes important distinctions that small businesses seeking capital should be aware of. Click here to read the full article.
- Community lenders consider start-ups.
- Community lenders look at borrowers as a whole and relationships count.
- Community lenders focus on serving low-income borrowers and people of color.
- Community lenders don’t have the same collateral requirements as a bank.
- Community lenders often have additional services besides loans.