Usually, we at IOU Financial share financial checkup tips with our readers every half-year. In normal times, we would discuss the prudent steps you should consider to increase revenues and cut costs. Then, along came Covid-19. So, this installment is dedicated to ways for small businesses to survive the pandemic in the second half of […]
Mid-Year Financial Checkup: 11 Tips Read More
Every business needs adequate funding to survive and grow. Ideally, your operations provide enough cash flow to handle all your funding needs. But for many a small business, cash flow isn’t always enough to satisfy the need for working capital. That’s when it’s time to consider a business loan. Let’s look at a few scenarios
When a Loan Is the Right Move for Your Business Read More
Are you looking to secure a loan to grow your business? The numbers aren’t exactly encouraging when it comes to approval rates. Alternative lenders approve around 56 percent of small business loans, while traditional banks (who have less experience with non-collateralized loans) only approve around 27 percent. Despite these somewhat disheartening statistics, there are several
5 Keys to Qualifying for a Small Business Loan Read More
Many business owners haven’t had the opportunity to attend fancy college programs in business and finance. Nonetheless, there are many terms related to loans and credit that you need to understand, especially if you are about to apply for your first business loan. Here is IOU Financial’s rundown of important lending terms. ACH Transfer: An
Lending Terms Business Owners Need to Know Read More
You might occasionally encounter a business owner who has a dim view of debt. That’s unfortunate, because debt, if you manage it properly, can help you grow your business. Here are several ways your business will benefit from the prudent use of debt: Accelerate growth: You can use loan proceeds to buy new equipment/facilities, hire
How to Make Business Financing Part of Your 2019 Growth Plan Read More
There are a plethora business opportunities in the world today, many of which did not exist decades ago. As technology advances, many digital trends influence the types of businesses that pop up. Even on social media platforms, there are businesses that cover how best to manage social walls and increase followers. One thing is important
4 Ways Business Loans Support Your Financial Status & Help You Achieve Your Goals Read More
We are often asked whether now is a good time to take out a business loan. Our answer is usually, “It depends.” Let’s explain. Two sets of factors figure into the timing of a business loan – macroeconomic and microeconomic. We take a closer look below. Macroeconomic Factors In general, it’s a good idea to
Is Now the Best Time for a Business Loan? Read More
If you’ve ever had a bad experience applying for a bank loan, you understand how demeaning it can feel to be turned down. Regulation and low interest rates have made it tougher for banks to lend to small business. The tight-fistedness of the banks after the 2008 mortgage debacle created a vacuum which was filled
Nine Things That Separate Good Business Lenders from Bad Ones Read More
Applying for a business loan is a significant undertaking, and it’s a good idea to get your business operating as efficiently as possible before asking for a loan. The amount of preparation you’ll have to do really depends on whether you borrow from a bank or a commercial lender. A bank is going to grill
Business Credit Basics: 3 Things You Need to Know Before Applying for a Loan Read More
Alternative, or non-bank, lending got a big boost in 2008 when the mortgage meltdown caused banks to roll up their welcome mats. In that era of recriminations, no bank wanted to go out on a limb and lend to anyone other than the most creditworthy customers. Today, businesses have learned that alternative lending, which includes
5 Common Misconceptions About Alternative Lending Read More