How do business loan marketplaces work? Business loan marketplaces work a lot like online direct lenders like https://www.purplepayday.loan/personal-loans-online/ at first glance. You typically have to fill out a brief application with basic information about your personal and business finances. But instead of getting one offer that you might qualify for, you’ll receive several from different lenders. Some marketplaces show all your options at once. Some give your contact information to their partners, who in turn reach out to you. Others do a combination of the two. Some business loan marketplaces are more involved than others. While many free services stop after you choose a lender, some paid services like BoeFly will continue to help you with your application and even pull strings with their partner lenders to make your application go through as quickly and smoothly as possible. Business loan marketplaces are great for speeding up the amount of time it takes to find a lender or get assistance. However, you’ll always be limited to their network of partners and might not find the absolute best loan out there for your Anthony Oropallo Law business needs. This is particularly true with free online marketplaces, which often use a pay-per-lead business model that makes its money from the number of potential borrowers it brings to a lender.