It’s challenging enough for small businesses to get the required financing to start a new business let alone get approved for a loan to cover additional business ventures or maintain yearly operation costs. From short-term business loans to merchant cash advances, many choices are available and according to the Bank of America, here are three…
Loans often come with many types of fees and can be one of a business owner’s biggest tribulations as there are often added costs when applying, getting approved and even when paying off the loan before the end of the set term. According to business.com, there are several loan fees (depending on the lender) that…
In the eyes of any lender, there’s always some risk for any type of loan. Even though there are strict guidelines and requirements, having collateral to secure one is perhaps the most important requirements from a financial institution. Having collateral pretty much guarantees the loan for both parties involved. From a borrower’s point of view,…
Let’s be honest. No business owner – no matter the size of an operation – likes the debt of a bank loan or being somewhat dependant on private investors. The demands of monthly payments, managing or renegotiating loan terms, and meeting demands of investors are just some of the challenges. Nonetheless, according to finder.com, upwards…
Commercial construction loans, apartment building loans, SBA bridge loans, or short-term business loans, are just a few of types of specific funding for various small to medium-size business. Regardless of the loan type, however, it can sometimes be challenging to get approved for one. As a bank, financial institution, or direct lender conducts due diligence…
As of mid-May, the Covid-19 outbreak in the United States was surpassing 1.41 million cases and many industries were at a standstill or apprehensively opening their doors under State jurisdictions. Since the start of the pandemic, a series of financial relief programs were made available to small businesses including the SBA’s Economic Injury Disaster Loan…
Whether you’re interested in purchasing an apartment building or require additional funding for exterior/interior upgrades to an existing one, there are specific loans available for apartment buildings and similar commercial properties from many financial institutions. Aside from going into pocket (if it’s available), there are several types of these loans available. A simple online search…
In the wake of the U.S. Federal Government’s announcement of distributing $50 billion in low-interest Disaster Assistance Loans through the SBA to offsetrecent challenges, the SBA revisited its loan processes to provide a more efficient means of getting funding approved and in the hands of borrowers. Available for small businesses and non-profits, this is positive…
While the Federal U.S. Government doesn’t dole out grants for startups or businesses looking to expand operations, it does provide many loan programs to provide support if you want to start your own business or wish to further grow your existing one. For example, if your business is having difficulties qualifying for a traditional small…
Contrary to popular belief, traditional banks and other financial lenders want to do business with your company. Yet, receiving a business loan and actually getting one approved are, unfortunately, two different mindsets. So, as a small business, (or any type of business for that matter) what is required to get the funding your business needs?…