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A Straightforward Guide to Understanding SBA 7a Loans
What is the SBA Loan Program and How does it Work? Many of us don’t want to admit this, but when it comes to understanding SBA loans, many of us are struggling to understand how they work, who qualifies, what they can be used for, etc. While there are hundreds of articles written on the…
The Sole Proprietor’s Guide to Securing Business Financing
As a sole proprietor, you’re the captain of your own ship. You’ve got the freedom to steer your business wherever you want, but let’s face it – sometimes the waters get choppy, especially when it comes to financing. If you’re nodding your head right now, you’re not alone. Let’s dive into the world of sole…
What is CrowdFunding and How Does it Work?
Crowdfunding for your small business offers a unique and innovative way to acquire capital without the hassle of traditional methods, such as loans or investments. The basic idea is simple: you create a project online that presents your business plan, set up a crowdfunding goal for how much money you want to raise, and then…
Do You Need Fast Funding For Your Small Business?
Getting fast funding loans for your small business can be a difficult and time-consuming process. That’s why it is important to understand the different types of loan options that are available to you as a small business owner in order to make a decision about which loan is best for your needs. Merchant Cash Advance…
What is the Difference Between Fixed Interest Rates and Variable Interest Rates?
Fixed interest rates and variable interest rates are two of the most common types of interest rates offered by lenders. Fixed interest rate loans guarantee that the borrower will pay back a set amount over the life of their loan, while variable rate loans fluctuate with economic changes in the market that can increase or…
Small Business Guide: Refinancing a Business Loan
Small business loan refinancing is a great option for businesses that need to access more capital or restructure their existing debt. By refinancing, business owners can secure better terms on the loan, free up cash flow and reduce their overall borrowing costs. Loan Refinancing Consideration When considering loan refinancing, it’s important to analyze your current…
Small Businesses: How To Manage Your Loans During A Recession
Understanding what a recession is and how small businesses should manage their loans during one are important steps in planning for the future. What is a Recession? A recession is a period of economic decline that lasts more than a few months, typically lasting six months or longer. It is characterized by reduced spending, unemployment,…
How SBA Loans are Affected When Interest Rates Rise?
As interest rates continue to rise, the cost of taking out SBA loans is also increasing. With an estimated decline in loan applications of 15 percent or more, small business owners are feeling the pain in their pocketbooks as they must now pay higher costs to take out loans. When Interest Rates Increase Interest rates…
Pros and Cons of Asset Based Loans For Your Small Business
Asset-based loans are a great financing option for small businesses who don’t have a good credit score or enough cash flow to qualify for traditional bank loans. They are secured loans, meaning that the lender has collateral—in this case, the borrower’s assets—to back them up in case of default. This makes asset-based loans a great…