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
A high business credit score will allow you to secure more financing for your business. Business credit scoring works almost like personal credit scoring—credit lenders will report business loans and repayment history to credit agencies, who will then calculate a business credit score. Because a good business credit score is essential for securing business loans,
Six Tips to Raise Your Business Credit Score 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
American Express started Small Business Saturday in 2010 to encourage American consumers to buy from mom-and-pop stores rather than the huge box-stores and the ubiquitous online sites. It falls on the Saturday following Thanksgiving (Nov. 25, 2017), and you should be preparing for it right now. Here are some great tips to maximize your sales
How to Gear-up for a Successful Small Business Saturday 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
On May 16, equity crowdfunding became a reality in the U.S. as a result of Title III of the 2012 Jumpstart Our Business Startups (JOBS) Act. The new rules allow a small private business to raise up to $1 million a year by selling shares to the general public without first registering the stock offering
5 Reasons to Choose a Small Business Loan Over Crowdfunding Read More
Common Mistakes When Applying for a Business Loan If you run a small business, sooner or later you are going to need an infusion of capital. When you are ready to take the plunge and seek funding, you don’t want to make a mistake right out of the gate that could complicate your chances of
Common Mistakes When Applying for a Small Business Loan Read More