CAN Capital Survives Ranking Update, Remains #1 Business Loan Company on BestCompanys.com
CAN Capital sits atop business loans companies on BestCompanys.com despite improvements made to ranking criteria
SAN FRANCISCO, California (PRUnderground) September 1st, 2015
In spite of recent changes made to ranking criteria, business loans provider CAN Capital continues to hold the number one position on BestCompanys.com, beating all other lending companies by at least 1.4 points on the 10-point rating system.
The recent update to the website’s business loans ranking criteria came in response to two industry trends: the decline in business loan approval ratings among major banks, and a conscious effort among business loans companies to differentiate themselves from one another. Prior to the update, business loans companies were ranked primarily on their interest rates; however, as companies diversify, BestCompanys.com implemented the criteria change to reflect these important industry developments.
Rather than ranking business loans companies according to their respective interest rates, BestCompanys.com now rates the companies against specific scenarios. For example, 15 percent of a company’s overall score is determined by the calculated cents on the dollar lessees will pay back to the company on a $100,000 loan over a 12-month period. CAN Capital charges $0.35 on the dollar, and provides a free loan calculator on its site – a feature that sets it apart from many of its competitors.
In addition to the cents on the dollar and the loan calculator, BestCompanys.com also scores companies based on the type of collateral (business or personal) that a business loans company requires in exchange for a loan. Special consideration is also given to companies that don’t charge any prepayment penalties (penalties assessed for paying off a loan before the loan’s term in complete), as well as the business’s number of eligible locations. CAN Capital requires no collateral, charges no prepayment penalties, and is available nationwide.
Since the 2008 financial crisis, the majority of big banks have heightened their lending standards, and the overall approval rating for loans granted to small businesses has dipped below 20%. And while banks can generally boast lower interest rates, alternative lending companies like CAN Capital have considerably higher loan approval rates and are often the only financing option for many small businesses. As the business loans industry expands and develops, BestCompanys.com will continue to hold companies to high standards, giving top spots to the businesses that pass on the most value to the consumer.
BestCompanys.com is a web property built on thousands of company reviews in over 100 different industries. These unbiased reviews empower consumers to make smart decisions in an increasingly cloudy marketplace. All companies on the site are not only ranked by experts, but also scored and reviewed by actual users of the product or service, and all consumer reviews are moderated by real people to ensure each comment is valid. Whether a company is exceeding expectations or falling short, we want consumers to know about it. To learn more about BestCompanys.com, visit this link: http://thebestcompanys.com/