The trend for using technology to handle financial matters has long been desirable for small businesses who use everything from REI skip tracing to track down defaulting debtors to accounting software like QuickBooks to automate their accounting, and now companies are increasingly opting for AI loans when they need a cash flow injection.
The fact that AI loans take a lot of the time and effort out of applying for business finances is a big draw for many entrepreneurs like Xiomara Rosa-Tedla who needed a cash injection in order to advertise her business, Unoeth, on social media. She did not want to have to go through the hoops of asking the bank for a loan, nor did she want to sell a significant chunk of her business to venture capitalists in order to raise the money she needed, so she opted to apply for an AI loan from Clearco.
This was a smart move for Xiomara, who, within just a few minutes of making an application, was offered between $5,000 – $18,000 of funding just by answering a few simple questions digitally. At no point in time did she have to speak with an actual human, which sped up the process significantly and made accessing the cash flow she needed as stress-free as possible.