Andrew Wan

Getting funding as a startup business can be difficult, largely because lenders are aware of the high failure rate of newer companies. As a result, many will not offer funding unless you have a track record of two or more years of performing well. Even if you can find a lender willing to offer funding…

Common methods for solving cash flow problems include identifying the amount of the shortage, understanding the impact it’s having on your company, and determining what sources of income and expenses you can adjust. For example, you might negotiate better terms, refinance debt to a better interest rate, or encourage faster payments from your clients. We’ve…

When applying for a small business loan, you must satisfy the lender’s requirements and eligibility criteria, which can vary depending on the lender and the type of loan you want. However, several common small business loan requirements apply to many business loans. From a simplified standpoint, common small business loan requirements are broken down into…

You can refinance a merchant cash advance (MCA) in five steps. Once you’ve confirmed the payoff amount, you can find loans you’re eligible for, shop lenders, apply, and then accept the loan terms and confirm the payoff of the merchant cash advance. Refinancing a merchant cash advance can provide lower monthly payments to help with…

A commercial bridge loan is a type of short-term financing commonly used to purchase real estate. These loans are typically used if traditional long-term financing is not an option, which can occur if the borrower has bad credit or the property needs repairs. Commercial mortgage bridge loans have eligibility criteria that are often easier to…

With a business credit card and business line of credit, you can make purchases up to the credit limit your lender has issued to you. While both are typically most useful for short-term financing, they have differences when it comes to costs and methods by which you can access the credit limit you’re given. In…

Debt-to-income (DTI) ratio is a measure of your monthly debt obligations in relation to your monthly income. It’s calculated by taking the total dollar amount of your monthly debt payments, and then dividing it by your gross monthly income. Lenders often evaluate your DTI ratio to determine your eligibility for a loan and how much…

Getting an SBA loan may seem like a complex process. Funding can take one to three months, and there’s typically more paperwork involved compared with traditional loans. However, you’ll often be rewarded with some of the best rates and terms available. You can learn how to apply for an SBA loan by following five major…

I’ll walk you through how to get a business credit line, which can be accomplished in five major steps. Once you understand how you intend to use the credit line, you’ll need to choose the right type of line of credit, understand your qualifications, shop lenders and check your eligibility, and then apply and provide…

Revenue-based financing, or RBF for short, is a type of loan in which your monthly payments are calculated based on a percentage of your company’s sales. Since this can fluctuate each month, you’ll be required to make payments until the balance of the loan is satisfied. Compared to traditional loans, RBF is less common, so…

A merchant cash advance, or MCA for short, allows you to get an advance on your credit card sales. However, it is one of the most expensive forms of financing available, with annual percentage rates (APRs) regularly exceeding 100%, which is why we recommend it only as a last resort. MCAs can be a good…

The LTV ratio is a common requirement for secured loans, such as real estate, equipment financing, and vehicle loans. A good LTV ratio is usually 80% or less. However, the requirements can vary depending on the specific type of loan you’re applying for, the lender you choose, and the strength of your credit and finances….