Many entrepreneurs are convinced that banks are not worth the effort for startups, especially early-stage ones that still don’t have a revenue stream, or collateral to back up their financing needs. A question I get from time to time is “Can I ever expect any backing from my bank for a great opportunity?” The short […]
Working with Lenders
5 Ways to Be Smart with Your Business Loan
A business loan can serve many purposes, from covering startup costs to keeping cash flowing or allowing for expansion into new products or markets. Before you get one, it’s important to decide how you plan to spend it. After all, if you don’t have a solid plan for using the loan proceeds (and paying it […]
6 Top Funding Options for Your Real Estate Investments
You’ve decided to turn to real estate investing to grow your wealth. The only problem is, you have no idea where to get the money from to get started. You may have a small lump sum of cash to work with, but it’s not nearly enough to fund your first project. Before throwing in the […]
The Smart Way to Manage Business Debt
Much of how I feel about when and where to borrow I learned working with my Dad in his small business as a young man. My views are pretty conservative when you consider that popular media would have us all believe that money is the answer to every small business challenge. I just don’t believe […]
When & How to Use a Payday Lender & Other Financial Tips
Amidst the pandemic, lenders are providing opportunities to help borrowers tackle their financial difficulties. Many lenders are offering loan extensions for a couple of months, reducing the interest rates and other flexibility options. Any future repayments that you encounter have to be made after taking precautions. Ensure that you obtain secure written documentation of the […]
Bad Credit? 5 Things to Do Before Applying for a Loan
Low credit score? The bad news is that your current credit score prohibits some lenders from doing business with you. Fortunately, there are lenders who are willing to extend financing to those with less than ideal credit. By finding the right lender and taking the time to follow the steps to qualify for a personal […]
Are Fast Business Loans Still Available During Covid-19?
The world of small business today in America is anything but certain, thanks entirely to the coronavirus and the devastating impact it’s had on our citizenry and our economy. As a smart and strategic small business owner, the odds are pretty good you’ve done everything you can to find a way to protect yourself, your […]
3 Crucial Best Practices for Small Businesses to Survive a Recession
Right now, small business owners all over the world are operating in one of the most difficult economic climates in a generation. The one-two punch of an already slowing global economy combined with the worldwide disruption wrought by the coronavirus (COVID-19) is leaving many of them in a precarious situation. Some won’t survive, and others […]
Just 5% of Small Business Owners Have Received PPP Money
Small business owners are anxiously waiting to see if Congress will inject more money into the Paycheck Protection Program (PPP), the federal rescue program that failed to reach the vast majority of small businesses it was intended to help the first time around. A new LendingTree survey found that just 5% of business owners have […]
How to Deal with a Sudden Cash Crunch
It’s unfortunate but true: unexpected financial emergencies happen all the time to small businesses. Another unfortunate truth: most small businesses are not prepared to weather a prolonged financial emergency. JP Morgan Chase estimates that the average small business has 27 days of cash in reserve, while many small brick-and-mortar stores may have less than 20 […]
