Taking on a business partner is both rewarding and risky. Your business maybe doing well, but if your partner suddenly has a personal financial setback, such as a bankruptcy or foreclosure, this could very well prevent your partnership from getting a business loan, especially from a bank. However, there is hope. Private commercial lenders like […]
Could Your Partner Prevent You From Getting a Business Loan? Read More
Banks operate under a different set of specifications when it comes to business lending. They often offer many additional services, and as such, have traditionally taken a more conservative approach to selecting businesses to lend to. The most obvious characteristic that banks emphasize is credit score. Less than 800 (out of 850), and they’re usually
Why Your Business Might Wow an Online Lender but not a Bank Read More
We are not out to discredit banks or bankers, but we do believe that many potential borrowers make unwarranted assumptions about banks that we’d like to clear up. The bottom line is that sometimes a bank is a good place to get a small business loan, and other times it’s not. Banks Are Not Impartial
5 Things Your Bank Won’t Say About Small Business Lending Read More
There is nothing unusual about a small business seeking to borrow money. The two biggest questions the owner must face are: How much will I be able to borrow? How much interest will I pay? The two questions are interrelated, because they are tied to how a lender evaluates your loan application. Whereas banks look
The 3 Key Factors That Determine Your Rate for a Business Loan Read More
Small companies must be very careful when it comes to spending, because they usually have finite resources. There are definitely good and bad times to expand your business, having to do with your own goals and the state of the overall economy. When done with foresight, spending can grow your market share and increase your
The Right and Wrong Times for Spending Read More
Owners of small businesses – take notice! 2016 is shaping up to be the best year in the last eight to take out a business loan. Why? Our economy is in better shape now than at any point since the Great Recession, meaning now is the time to expand your business. Interest rates remain low,
Why This Might be The Best Time to Take Out a Business Loan Read More
For many an individual and business, access to credit depends on FICO scores and the contents of credit history reports maintained at the three major credit bureaus – Equifax, TransUnion and Experian. A “pull” is a credit inquiry from a legitimate entity, made in order to check your credit. A hard pull is one that
Hard Pull vs Soft Pull Credit Checks Read More
The mere mention of credit cards can send shivers down the spine of a business owner that already has one too many payments to make. Credit cards are often the source for start-up financing, but sooner or later, business owners realize that using their personal credit card is far from the ideal choice. If you
3 Reasons to Use a Corporate Credit Card Instead a Personal One Read More
All businesses need money to stay in business. Sometimes a loan makes the most sense to get access to the necessary funds. Unfortunately, many owners of small businesses think first of banks as the source for loans. Although there’s a bank around every corner, there are also many problems lurking around those corners as well.
Why Online Lending Could Benefit You More Than a Bank Loan Read More
Some business owners fear debt, treating it as an admission that the business has problems. Nothing could be further from the truth. Debt is simply a tool. It’s neither good nor bad on its own – that’s determined by how you use it. In this article, we’ll explore three uses of credit that can improve
How Good Debt Can Benefit Your Business Read More