A common challenge any business will run into is funding, and there are many loan products out there to address this issue for most SMEs. Between banks and the relatively new option of peer-to-peer (p2p) lending, we did the research on these various options.

How do business loans get approved? After the application process, the loan provider (the bank or the p2p loan website you are applying to) will study your business model, credit status and other financial metrics to decide if they can fund your business, and approve your loan (for banks) or put your loan up to be crowdfunded (for p2p lending).