Alternative financing startup Hometap is one of a growing number of fintechs that is helping small business owners stay afloat in the face of recent demanding times with a lending product that allows them to utilize the tappable equity in their properties.
Hometap’s financing solution allows business owner mortgage holders to leverage their home equity in exchange for a percentage of the property’s future value, and in contrast to HELOCs or small-business loans, no interest or monthly payments are due for the first ten years.
“It goes without saying that the past two years have been incredibly difficult for everyone, and business owners have demonstrated incredible strength and resilience in the face of countless challenges,” said Jonathan MacKinnon, vice president of product strategy and business development at Hometap.
This article originally appeared on National Mortgage News. Read it here.