Andrew Wan

A letter of credit is issued by a bank or other financial institution as a way to guarantee payment in the event the customer does not pay. This can be especially useful when conducting business internationally or when making large complex purchases where failure to receive payment could result in cash flow issues. Companies that…

If you’re applying for a business loan, lenders can check both your personal and business credit scores: Bad personal credit is usually defined as having either a FICO credit score below 580 or a VantageScore of 600 or less. Bad business credit is often defined as having a PAYDEX score below 50, a FICO SBSS…

SBA Express loans are government-backed loans issued by individual lenders and can provide up to $500,000 in funding, usually with a 10-year repayment term. Funding speeds are much faster compared to other types of loans backed by the Small Business Administration (SBA), typically around one month, and this is because lenders often have reduced documentation…

Commercial auto financing, also known as business auto financing, allows you to obtain vehicles for business purposes. You can purchase vehicles if you want to retain ownership after you pay off the business auto loan, or you can do a lease if you want or need to regularly upgrade vehicles. Each has its pros and…