5 Easy Ways To Do Your Financial Projections This Year
Creating financial projections is a necessary but challenging process for many businesses. Your partners and investors want to see hard numbers. But in the ever-changing business world, how can you realistically forecast concrete numbers three years into the future? Nevertheless, if you want your business to be taken seriously, producing short- and medium-term financial projections […]
11 Ways Your Outstanding Small Business Debt Might Be Hurting You
Did you know that the average small business owner has around $200,000 of debt? Although some debt is a necessary part of doing business, too much of it can create a lot of problems. Do you want to better understand how debt impacts businesses? Keep reading to learn about 11 ways your small business debt […]
Repayment Terms: How Long Will It Take You to Pay Back a Business Loan?
Chances are, if you start your own business, you’ll need a loan. As soon as you finish signing, you’ll probably start wondering how long it will take you to pay it off. How long it will take you to repay your small business loan depends on the repayment terms of that loan. It’s impossible to […]
The Do’s and Don’ts of Starting Business Loans
You’re finally ready to start your own company after years of dreaming and careful planning. Though you have a bit of cash saved up, you still need to take out a business loan to get your business off the ground. But with so many lending options, how do you know you’re making the right choice? […]
How to Improve the Financial Health of a Business
The average small business owner owes close to $200,000 in debt. We know that you want to find the financial strategies that will help you get out of debt as soon as possible, increase your profit margins, reach your goals, and simply allow you to sleep better at night. This post is here to help. Read on to […]
Understanding Microfinance: Why It’s Important
Your business will live and die by the lending that you get. Financial services companies offer a number of options that you’ll want to be aware of. Many companies turn to microfinance when they need to get their hands on some money. You owe it to yourself to look into a microfinance bank that can […]
7 Factors that Determine the Financial Health of Your Company
Did you know that there are over 30 million small businesses in America? Although small businesses are the backbone of our economy, many don’t survive their first few years of business. One of the best ways you can predict the odds of your long-term security is to analyze the financial health of your business. Do you want […]
How Does Unsecured Financing Work?
Not many entrepreneurs have the opportunity to finance their own business ventures. In fact, the average business owner is at least $30,000 in debt. To make matters worse, getting a loan isn’t always an easy thing to do. Luckily, unsecured financing is an option, but there’s information you’ll need to keep in mind before choosing this […]
Asset Based Vs. Cash Flow Lending: What’s the Difference?
When you’re trying to get your hands on some cash, you need to be fully aware of the different types of loans available to you. Two of the main types of loans include cash flow lending and asset-based lending. Understanding these differences will help you hone your approach and will inform how you apply. Use […]
What’s the LTV Ratio and How Does it Work?
No matter what kind of financing you need, it’s your duty to find out as much as you can about the terms of the loan and how they affect you. In doing this, you’ll want to become familiar with the Loan-to-Value (LTV) ratio. By understanding this principle, you’ll be better able to apply for a […]
What Happens if You Default on a Secured Debt?
It’s the choice you hoped you’d never have to make. You’ve run the numbers backward and front. You’ve pored over your budget trying to see what you can cut down. You’ve taken overtime items and tried to sell sitting in your basement, but it’s no use. You don’t have enough to pay your bills and pay off […]
A Guide to the Different Types of Loan Defaults and Consequences
As of April 2019, it’s easier than ever to get approved by a bank for a small business loan. But, the ease of securing a loan doesn’t change the consequences you’ll incur if you default on one. It’s important to avoid these at all costs. Not sure where to start? Don’t worry, we’ve got you covered. Let’s take […]
4 Warehouse Financing Tips for Any Retailer Considering Inventory Finance
If you’re starting a warehouse business, you need to do everything you can to get inventory financing. By getting this financing, you can stock up on products quickly, without having to wait for liquidity. When you’re looking for quality warehouse financing, consider the tips below. 1. Research and Consider the Benefits of Warehouse Financing You’ll […]
11 Benefits of an Asset-Based Line of Credit
Did you know that nearly 1 in 4 small businesses report cash flow as their biggest challenge? If you’re struggling to keep up with your expenses, getting financial support from a fair provider is crucial for your success. One of the most popular options for small business owners is asset-based credit. Do you want to learn if […]
A Guide to High-Risk Loans: Which Loans Should You Avoid?
If you’ve been trying to secure funding for your startup, you may have trouble getting it through a traditional bank loan. However, there are a number of other options you can pursue to get your business off the ground. But not every lender is created equally. There are a number of high-risk loans that might look appealing […]
Banks vs. Alternative Lenders: Where Should Small Businesses Go to Get a Loan?
Each year, over 400,000 entrepreneurs start their own business in the United States. But, the vast majority of them have to seek funding for their business ventures in the form of loans. The choice between lenders can be difficult, too. Should you seek a loan from a bank? Or an independent institution? If you’re not sure where […]
When Banks Say No: How to Finance Your Niche Business
For all of the axioms of business, fewer are truer than the statement, “it takes money to make money.” As a business owner, you already know this. You’ve been working day and night going over the loan application to get your niche business off the ground. But unfortunately, they aren’t biting. The lending officer doesn’t […]
Starting a Home Healthcare Business: A Step-By-Step Guide
Have you thought about starting a home healthcare business? Managed care and advances in medical care have decreased in-patient hospital stays. More healthcare is moving into the home. This opens the door for the home healthcare industry. Experts predict that the adult population age 65 and older will double by 2060. Now is the time for […]
No Money, No Problem? An Essential Guide to Franchise Loans
Opening a franchise can be one of the smartest business moves you’ll make as an entrepreneur. Unfortunately, it can take a lot of resources to get things up and running. Luckily, you have the opportunity to borrow money from a lender to get started. Not everyone knows where to start. Let’s take a look at everything you […]
VA Business Loans: A Guide for Aspiring Veteran Entrepreneurs
2.52 million U.S. businesses are owned by veterans. Veteran business owners have long been at the core of American enterprise. After all, owning a business is part of the American dream. Balancing military and civilian life can be challenging for active duty service members, and returning to the business world after retiring from the military can […]
4 Benefits of AR Financing for Small Businesses
What if your small business had access to all the money you would ever need? Every small business struggles with obtaining financing. However, accounts receivable financing has made it easier than ever to borrow what you need exactly when you need it. Wondering how AR financing can help you and your small business? Keep reading to discover […]
When You Can’t Wait: Understanding Quick Small Business Loans
It costs approximately $30,000 to start your own business. Unless you’ve been financially preparing for years (or already have the capital through other means), you’re going to need some outside help. While some loans have lengthy application/approval processes, there are plenty out there that exist to give you cash fast. Not sure where to start? Don’t worry, […]
Loan Denied? Here’s What To Do Next
If your SMB loan was rejected, you’re not alone. 82% of business hopefuls get rejected. And it’s not always you. Small businesses are risky ventures. Only about 50% of small businesses survive past their fifth year. Loan companies look at that and say, “We might not get our money back.” Thus, banks are extremely careful […]
4 Benefits of a Good Credit Score
Roughly 1/3 of Americans have poor credit. If you’re among them, then we know that bad credit can feel challenging problem to fix. Yes, you want to pay off your debts, make payments on time, and try to keep your balances as low as possible. But sometimes, you wonder if all the financial sacrifices needed […]
9 Benefits of Short Term Credit
Your small business needs working capital, and it can’t afford to wait. If you were a successful Fortune 500 enterprise, you’d have no trouble securing the cash you need. However, you’re still getting your feet wet and haven’t made a name for yourself yet. Can short term credit be the answer to your problems? This […]
A Guide to Owner Financing Real Estate: How to Buy a Property
As a real estate investor, you’re always looking for the cheapest way to finance a property. Banks don’t always provide the best interest rates. Plus, you’re stuck jumping through a ton of red tape hoops before securing your loan. What if there were a way to cut out the middleman completely? Sure, you could use […]
How to Find the Best Small Business Loan Rates
Are you looking for a small business loan? You need to consider several factors before taking up a loan as your business state and if you want to expand. Additionally, you have to focus on things like your credit score and how it can affect your loan rates. Try finding out how to get low […]
What is an Installment Loan and Are They Useful?
Once in a while, people run out of cash. Human needs are so insatiable that you will always need more than you have. So, what do you do when you have fewer than required dollars? Loan, borrow, or sell one of your assets? Loans are common strategies that people use to leverage their financial needs. […]
Reasons You Should Never Default on Your Business Loans
The federal bureau has it that businesses defaulted close to 1% of loans in the last quarter of 2018 alone. A business loan is typically a loan advanced to clients for industrial or commercial use. These statistics, however, capture the bank loans only and do not capture other lenders. This indicates the default rate could be […]
How to Qualify for a Minority Small Business Grant
In 2018, minorities owned 45% of small businesses. That’s an impressive increase from 15% in 2015. African American small business owners led this charge, with a 400% increase between 20017 and 2018. According to Guidant Financial, Hispanics followed suit, making up 14%, while Asians made up 8%, and Native Americans 4%. Small business grants for […]
Working Capital Funding 101: The Difference Between Working Capital Funding and a Term Loan
Your business is picking up steam and ready to grow. The only problem? You don’t quite have enough funding to get there. It doesn’t help that you’re not really sure where to begin with small business loans, either. For example, what is a term loan? What about a working capital loan? If you don’t know about […]