You might have taken a personal loan in the past, and quite possible the experience was pleasant. However, business loan requirements are different. You need to understand that the risk for a lender is significantly higher in this case, because of the eligibility criteria. The process for applying to a business loan is strict, and […]
Working with Lenders
6 Hottest Alternative Lending Programs for Small Businesses
Small business has changed a lot in the past few decades, a lot of it good but some not. However, one of the most significant positive changes to the small business landscape over the past decade has been the explosion of alternative funding options available to new and seasoned business owners. What was once a […]
5 Tips to Improve Your Business Credit Score
Most people have a decent understanding of their personal credit score, but not so many are as familiar with their business credit scores. Your business credit score is crucial in determining whether or not your enterprise is fit to borrow, how much interest you’ll have to pay on credit, and in some cases, whether or […]
Prepayment Penalties: When the Early Bird Doesn’t Get the Worm
It’s every small business owner’s dream: you took out a business loan to start or expand your small business, and it really paid off. Business is booming, cash is flowing, and you suddenly find yourself in the coveted position of being able to pay off your loan far before you anticipated. While you’ve always wanted […]
Here’s a Rule for Companies with Outstanding Loans
Here is one that is so important to the continued health of a growing company that it cannot be overstated. It’s a bit complex for novices. But hang in there as I explain a bit about accounting classification of assets and liabilities. Differences between types of assets and liabilities First, let’s be sure we know […]
What is a Loan Broker and When Should You Use One?
As a small business owner, you know what it’s like to feel like you need to be an expert on every aspect of running your business — even though that’s next to impossible. Applying and getting approved for a small business loan, for example, is likely completely new territory. How can you be sure you’re getting the […]
Take These 4 Steps to Secure Your Small Business Loan the Right Way
Everyone needs capital to turn a great business idea into reality, and most startups secure their first outside financing by talking to friends or family. But at a certain level, your small, growing business needs to secure loans to expand operations and finance expenses. Despite the recent good economic growth in the United States, banks […]
Bankers: Love ‘em or Hate ‘em, They May Affect Your Future
Let’s get right down to it. Your banking relationship can be like a great marriage or a bad trip to the DMV. In most cases it is strictly your choice. But the results of that choice will reverberate for what could be years. For a start… How did you open your first bank account? Did […]
How and When to Use Short-Term Business Loans
Almost every small business needs to borrow at one time or another. However, not all loans are created equal—and some types of finance are more appropriate in particular circumstances. So, what is the best guidance on a short-term loan? All about short-term loans As its name suggests, a short-term loan involves borrowing a fixed amount, […]
When You Should Seek Financing for Business Growth
Growth is the lifeblood of every young business. Yet sometimes it seems too risky to take out finance to take your company to the next level. So what are the signs that you should seek to borrow? Your customers are spending more Growing your business doesn’t simply involve taking on new customers: you may find […]
