OnDeck and Funding Circle offer short-term business loans up to $500,000, but each is best for different businesses. OnDeck is best for businesses that need quick funding because they can fund in as little as one day. Funding Circle has the more affordable solution for prime borrowers, offering interest rates as low as 4.99%. When…
About the Author
Jeff White
Jeff White is a staff writer and financial analyst at Fit Small Business, specializing in Small Business Finance. As a JD/MBA, he has spent the majority of his career either operating small businesses (in the retail and management consulting spaces) or helping them through M&A transactions. When he is not helping small businesses, he spends his time teaching his five kids how to become entrepreneurs. Jeff lives in Seattle, Washington.
How to Get an SBA Restaurant Business Loan in 4 Steps
Restaurant business loans are tough to qualify for because lenders perceive the restaurant industry as volatile. Loans backed by the Small Business Administration (SBA) make it so lenders are more willing to issue these loans to buy a restaurant, open a new location or obtain working capital. SBA loans have rates between 5 percent to…
How to Get a Business Credit Card in 5 Steps
Business credit cards are typically the first financing product small businesses get and they can help all business owners, even new startups. Typical rates fall in the 12 percent to 29 percent range and many cards offer rewards. The application process takes, minutes you can receive your card within seven days, and you might not…
4 Best Home Healthcare Loan Options & Where to Find
A home healthcare loan can help small businesses fund a territory expansion, new business acquisition, or finance your immediate working capital needs. Due to the speed of growth in the home healthcare industry, the best loan options will fund quickly with short repayment terms and low origination fees. These loans can help you get quick…
5 Best Professional Loan Options for Your Business
Business professionals are typically people like CPAs or consultants who usually bill their clients either hourly or by project. These professionals often have trouble getting working capital financing because their income depends on the consistent acquisition of new clients. Alternative online lenders, however, offer professional loan options up to $500k to business professionals with $100k+…
Small Business Line of Credit – Find Your Best Financing Options
A business line of credit (LOC) is good for small businesses that want a revolving credit line they can use over and over again for recurring or unexpected expenses. There are numerous types of line of credit products, each right for different borrowers. You can review each one below or take the quiz to determine…
SBA Loan Calculator: Payments, Rates & Qualifications
A loan backed by the U.S. Small Business Administration (SBA) can be the least expensive way to get capital for many small businesses. They typically offer small businesses lower interest rates and longer terms than other financing options. Our SBA loan calculator will help you see just how affordable your SBA loan can be….
6 Types of SBA Loans: Rates, Terms & Where to Find
The Small Business Administration (SBA) guarantees small business loans originated by approved lenders. SBA loans are difficult to qualify for but carry low interest rates up to ~9.5% and repayment terms up to 25 years. The 6 types of SBA loans are 7a loans, CDC/504 loans, CAPLines, Export loans, Microloans, and Disaster loans. Our recommend…
Commercial Real Estate Loan Rates 2018
Commercial real estate loan rates remain at near all time lows, making now a great time for small business owners to purchase or refinance commercial property. A variety of different lenders make commercial real estate loans. This article covers how commercial real estate loan rates work and the interest rates that different types of lenders…
What is Prime Rate: How it Works & Formula
The prime rate (aka prime lending rate) is the best interest rate that banks offer the most creditworthy borrowers. Average current prime rates are typically calculated by taking the federal funds rate and adding a 3% margin. Business owners with a strong track record of success and high credit score, known as “prime borrowers,” can…
Small Business Loans: Find Your Best Financing Options
There are numerous small business loans available to you, depending on your creditworthiness, current business performance, and desired use for the funds. You can learn which one might be right for you by filling out the quiz above or by reading through the brief summaries of each loan type below. SBA Loans An SBA loan…
Retail Business Loans: Costs, Terms & Where to Find
Retailers obtain financing to help grow their business or to purchase inventory and ramp up for a busy 4th quarter. Retail business loans come in various forms, such as a short term business loan used to purchase needed inventory to prepare for the busy season or an SBA loan to buy real estate and expand….
