Introduction

Small business owners are increasingly exploring alternative financing options. New data from Secured Research reveals that now 1 in 16 vendor finance transactions are now funded through fintech lending outside of traditional equipment finance. The stories below follow the experiences of two small business owners who, disillusioned with the traditional financing routes offered by equipment dealers, turned to online fintech lenders to meet their equipment needs. Their journey serves as a cautionary tale for traditional equipment finance companies relying on vendor programs.