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Here are 5 Signs Your Business Needs a Loan. If you’re considering getting a business loan, these signs can help you to decide if business funding will help.
Whether it’s caused by an unexpected repair, slow account receivables, or an exciting opportunity for growth that requires capital, there are multiple circumstances that cause us to consider the value of a business loan for our business. This infographic can help you to determine whether getting a business loan is right for your business.
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22August 2019Small Business Loans
According to the US Government’s SBA (Small Business Administration) website, the SBA “provides a number of financial assistance programs for small businesses that have been specifically designed to meet key financing needs, including debt financing, surety bonds, and equity financing.” Given this rather noble mandate, you might envision walking into a bank, informing the small business loan officer that you’d like to apply for one of these wonderful “financial assistance programs”, and in a reasonably short period of time find yourself with the capital you need to drive your small business onward and upward. However, as countless small business owners around the country have discovered, the scenario is playing out quite differently than they expected. Instead of moving forward through the process, they’re essentially being told right from the beginning that there is no chance of approval. If you’re considering applying for a SBA loan, then while we certainly don’t mean to be the bearers of bad news, here are
25June 2019Small Business Loans
Once upon a time, the best option for someone looking for the best small business loan was to walk into your friendly neighborhood bank and walk out with a loan approval, and a handy bank calendar. Unfortunately, much of that changed as a result of the Great Recession, which has created significant challenges for small and medium sized businesses looking to get funding for their business. The good news is that those challenges don't mean that you can't live your dream of starting or growing your business, you just need to understand what your options are. History of Business Lending Back around 2008 when the Great Recession erupted, the small business lending industry changed drastically. The risk that was recognized in the mortgage industry meant that banks were not more stringent with their small business lending requirements, which made it virtually impossible for applicants with flawed credit and/or less than two years of credit history to apply. Banks are in
18June 2019Small Business Loans
As you research various small business loan options, you may be looking to understand more about inventory financing and what options exist for your business to get funding for your inventory needs. There are a few layers to consider in order to understand if inventory financing is the right option for your business, and what alternatives there are that may be better suited, and we're here to help shed light on some of those consideration. What is Inventory Financing? Simply put, inventory financing is, as the term suggests, capital that you use to purchase inventory for your business. The products that your business invest in with the funds from inventory financing will then serve as collateral for the financing itself - this structure is much like equipment financing, which involves purchasing equipment that will act as collateral for the loan. If you're looking to purchase inventory for your business, this could be an option for you. Before you dive in,