Non-bank loans: quick, easy...and addictive?

Today, the odds of a small business actually receiving a bank loan are about 50-50, according to a recent survey by Pepperdine Private Capital Access Index and Dun & Bradstreet Credibility Corp.

This has opened doors for alternative lenders, which don't require business owners to have flawless credit or go through months of red tape. They often look beyond credit history and factor in other indicators of business health, like transactions and revenue.

While they still provide just a fraction of the funds of traditional lenders -- several billion compared to hundreds of billions -- non-bank financial providers have grown 100% since last year, according to Bill Phelan, pres