With invoice factoring, your unpaid invoices are converted into immediate cash through an advance of 80% to 90% of the total amount owed. We reviewed invoice factoring companies to find the six best factoring companies. These companies are experienced at collecting payments for small businesses with the best advance and discount rates in the industry….
About the Author
Dennis Shirshikov
Dennis Shirshikov is a Small Business Finance Writer at Fit Small Business. Dennis earned an MS with an emphasis in Financial Risk Modeling and spend most of his career working with startups. When not helping small businesses and teaching Economics, Dennis loves spending time with his family, reading, and exploring New York City.
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Using a HELOC or Home Equity Loan to Finance Your Business
Taking out a home equity line of credit (HELOC) or home equity loan to finance your business is easier than getting traditional startup business loans. Individuals with equity in their home and strong personal credit can use HELOCs for ongoing expenses, whereas home equity loans are best for large one-time expenditures. If you’re shopping for…
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SBA Community Advantage Loan Program – What You Need to Know
The SBA Community Advantage Loan is designed for small businesses needing working capital, equipment financing, and real estate. Offered through participating lenders, this Small Business Administration (SBA) loan is targeted at businesses that don’t qualify for traditional financing and need up to $250,000 at rates of 10% – 12% for up to 25 years. What…
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How to Get a Business Line of Credit in 6 Steps
A small business line of credit is used for smaller ongoing expenses such as payroll, inventory, and working capital. It typically has shorter repayment terms and higher rates than term loans, but you are only charged for the amount you use. To apply, you’ll need to select a lender, prepare documentation, and submit an application….
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Business Loans With No Credit Check: The Ultimate Guide
Small business loans with no credit check are very rare for most lenders and typically at least a soft credit check will be required. Unlike a hard credit check, the soft check doesn’t impact your score and reveals less information to the lender, which is good for business owners with poor credit that need financing….
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Putting Personal Money Into a Business in 7 Steps
Putting personal money into a business can help you overcome startup funding needs, but can also create unnecessary risk if done incorrectly. You need to make sure you properly account for the money on your business books so you accurately track the amount your business either owes you or how much ownership you have. When…
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How to Get a Loan to Buy a Business in 2019
Buying a business is a big undertaking, and getting a loan to buy a business can be the most complicated part. Banks set high standards that both you and the business have to meet before you’re approved. We’ll show you how to get the loan to buy a business that’s best for your personal situation….
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SBA Express Loans: Types, Costs, Terms & Where to Find
A Small Business Administration (SBA) Express loan provides small businesses with long-term working capital up to $350,000. These loans feature interest rates of 4.5% to 6.5% above the prime rate and typically have a 10-year term. SBA Express loans carry fewer documentation requirements than 7(a) loans but still take 30 to 90 days to fund….
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What Is a UCC Filing & How a UCC Lien Works
A Uniform Commercial Code (UCC) lien filing, or UCC filing, is a notice lenders file to stake a claim in borrower assets in the event of default. UCC liens can cover all or specific assets, and can be filed against businesses or individuals. The term comes from rules governing commercial transactions in the United States….
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35 Best Crowdfunding Sites for Small Business 2019
Small businesses can raise money with crowdfunding in exchange for rewards, future repayment, or equity in the company. Startups and more established companies can raise funds online while getting new customers. The best crowdfunding sites offer low fees, a large audience, and allow a variety of campaigns. Choosing the Right Crowdfunding Website There are different…
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How Credibly Co-CEO Says Innovation Spurs More Business Lending
The small business lending space is evolving quickly. An opportunity to speak with Credibly Co-CEO Ryan Rosett helped shed some light on how technology is impacting this industry, and what we can expect in the near future. It was clear in our conversation that technology helps business owners by providing quicker and better loan approvals….
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Fundbox vs Kabbage: Cost, Qualifications, & Which Is Best in 2019
When comparing Kabbage versus Fundbox, we considered the loan terms, costs, and requirements. Both offer a line of credit to businesses, but Kabbage is better overall with loans up to $250,000, monthly payments, one-year terms, and 18% starting APR, compared to Fundbox’s $100,000, weekly payments, 24-week terms, and 10% starting APR. Fundbox vs Kabbage at…
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