Andrew Wan

Depending on your circumstances and needs, the best self-employed business loans will have either flexible qualifications with high approval rates or competitive interest rates and loan terms. These companies also tend to combine those characteristics with excellent customer service, given that self-employed individuals can have complex finances that tend to make it difficult to evaluate…

Self-storage financing is a method of obtaining funding to acquire, pay for improvements, or build self-storage units. This commonly involves some sort of loan, which is available from many different sources such as banks, business loan brokers, credit unions, and online lenders. Lenders offering self-storage financing usually have specific loan programs that dictate what loan…

Owner financing describes a type of real estate transaction in which the seller of the property acts as the lender. In other words, the seller of the property agrees to provide ownership of the property to the buyer, and in exchange, the buyer makes loan payments to the seller instead of a traditional bank. Owner…

An amortization schedule is a table or chart that shows each loan payment throughout the life of the loan. These payments are broken down to show how much will be allocated to the loan’s principal and accrued interest charges, as well as the new loan balance after each subsequent payment. A schedule can be used…

Mixed-use loans are used to finance a piece of real estate that has a combination of uses or zonings, such as a property with a mix of residential, commercial, agricultural, or industrial uses. They can primarily be categorized as commercial, government-backed, or short-term and may have repayment terms as short as several months to as…

The best trucking business loans will be able to provide a range of low rates, industry expertise, expert guidance, flexible qualification requirements, and fast funding speeds. Since business owners each have varying circumstances and needs, I recommend considering which of these characteristics is most important to you when it comes to selecting a loan, as…

I’ll walk you through how to consolidate business debt and help you understand the nuances involved in the process—from determining the total amount needed to pay off existing loans and finding a lender, to applying for a loan and ensuring proper payoff of your old accounts. Business debt consolidation can provide multiple benefits, such as…

Peer-to-peer lending, or P2P lending for short, is a way for borrowers to get loans from other individuals, rather than a bank or other traditional lending institution. It’s often used by borrowers who either are unable to qualify for a traditional bank loan or cannot secure the type of financing they’re looking for. Due to…

A nonprofit organization operates with the primary purpose of serving the needs of a social or public cause. Profits earned by the organization are typically invested back into the organization, rather than being distributed to shareholders. Examples of nonprofit organizations include hospitals, religious organizations, charities, universities, homeless shelters, soup kitchens, and more. Nonprofit organizations carry…

A microloan is a small loan that’s made to a business owner, usually carrying qualification requirements that are more flexible than most traditional loan programs. As a result, it can be a good option for businesses that have bad credit or weak finances. Microloans often have short repayment terms of no more than five to…

The federal funds rate is the rate that’s charged when a bank lends funds to another bank. This can occur if a bank needs money to satisfy reserve requirements set by federal regulations. While the federal funds rate describes the rate banks charge one another, it plays a large role in US monetary policy and…

To refinance a business loan, you must replace the existing loan with a new one. This requires you to have an understanding of how much you need to satisfy the existing loan, identify the best type of loan to suit your needs, and then find a lender willing to issue you funding. While there may…