We live in a time crazed society that cherishes speed and convenience. Need a new outfit -- you can shop on-line instead of going to the mall. Don't want to wait in line at Starbucks--use the app to order from your car on the way.

On-line business lenders want you to think in the same way when it comes to getting a business loan. Why bother with the arduous process of the SBA or getting a bank loan if they can get you the money quickly?

Their argument would be sound and valid if all else were equal. You see, unlike using the Starbucks app or shopping on-line, the lenders convenience comes with an exponentially higher price tag than what the bank has to offer.

At my loan brokerage, we recently got a client an offer to borrow money at all in annualized APR of 18% (which we consider high). To get the loan was going to have to do a couple of hours' work pulling paperwork together. He passed. Why? He was borrowing money more conveniently, with less aggravation. As I dissected his current loans for him and explained to him that he was paying an annualized APR of 144% for his money the "quick way"--he still didn't bite.

My client was caught in the drive for speed and convenience. And no matter how I tried to convince him, he could not move away from a lens.

Everything in life has a price. Maybe it's worth paying for shipping for the convenience of shopping on-line. There is always a trade-off. But is it worth 3 hours to trade a 144% loan for an 18% loan. I would argue that it is.

Are you looking for money for your business? Slow down and take a breath. Getting a loan is not an impulsive decision. Get some advice. Explore options. Ask tough question. You're about to sign on the dotted line. And the line has vast implications.