Are You a Small Business Owner Worried About a Recession? Consider a Personal Loan

Starting your own business, a successful one at that, is tough in its own right. It becomes increasingly more challenging when the economy surrounding the business begins to crumble. 

The COVID-19 pandemic has brought with it an economic downturn that will likely result in a prolonged recession. How long is anyone’s guess, depending on the success in preventing and treating the disease and how that will ultimately help the economy bounce back. In the meantime, many small business owners, budding entrepreneurs, and freelancers may be left scrambling to stay afloat. 

While there are many relief programs in place, in the form of stimulus checks, business loans, and government loans, these options may not cover certain expenses or simply take too much time and effort to obtain. 

For small business owners in need of fast and easily accessible funds, without all the hoops and hurdles, personal loan offers from Fiona may be the answer. 

One of the most advantageous aspects of a personal loan is versatility. While other funding methods, like a traditional business loan, may be restricted to specific business purposes, most lenders don’t limit how personal loans can be used, whether it's for: startup costs, new equipment/technology, marketing fees, or other business essentials. 

In a situation like the current pandemic, where many businesses have been pushed online, using a personal loan to help convert a company to e-commerce or cover other digital upgrades can be very useful. No matter what the purpose, having quick access to funds is likely on the minds of many business owners, with a recession looming.

With Fiona, you can get matched with personal loan offers ranging from $1,000 to $100,000 to accommodate a multitude of needs. If approved, borrowers have the ability to pay off their loans over the course of up to seven years, and at competitive, fixed interest rates. 

What is Fiona? It’s the leading search, comparison, and recommendation engine for personalized loan offers. Instead of researching multiple lenders online, with Fiona, you can get matched with personal loan offers from a network of top online providers all in one place. With APRs as low as 4.99% (depending on creditworthiness) and loan terms from 24-84 months, it’s an easy way to get matched with the personalized loan offers that best meet your needs. 

With Fiona, you can compare personalized loan offers based on your credit score. Instead of having to use your business as collateral, or go through the endless paperwork of getting approved for certain business loans. With Fiona, you can get pre-approved/pre-qualified offers via just a soft pull of your credit — with zero impact to your credit score. 

Perhaps most beneficial, borrowers who get approved for personal loans after using Fiona may get access to funds as soon as the next business day. For people in urgent need of funding for their business, the quick and seamless process of obtaining a loan online is made all the more easy by using Fiona.

In trying times, people don’t need the extra burden of having to put time and effort into submitting multiple loan applications directly with lenders, especially if those applications are ultimately denied. With Fiona, users can get better assurance through the pre-approval/pre-qualification process, while also enjoying a streamlined user experience that connects them to the right lenders in real time.