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Increasingly, small businesses are turning to private credit to fund business expansions or ongoing operational costs. Private credit accounted for roughly 30% of the credit market in 2021, growing from $400 billion in assets to over $1 trillion since 2012.
This type of financing usually comes with flexible terms, customized solutions and fast access to capital. So, if your company needs funding but you don’t want to apply for a traditional bank loan, here’s how private credit works and how you can access it.
Related: How Alternative Funding Solutions Can Help Your Business Navigate The Ongoing Financial Storm
What is private credit?
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