Lauren McKinley

Lauren McKinley

Staff Writer - Finance at Fit Small Business
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6 Best Non-recourse Factoring Companies

The best non-recourse factoring companies have competitive rates, low fees, flexible qualification requirements, and quick access to funding. Many will also have a track record of delivering excellent customer service, high advance rates, and large funding amounts. I’ve selected providers that offer non-recourse factoring products to most industries. Some options on the list even have…

Nov 19, 2024
Bluevine Line of Credit Review
Bluevine Line of Credit Review

A Bluevine Line of Credit can be a great option for businesses with short-term financing needs. It allows you access to funds to help cover business expenses, supplement cash flow, or help grow your business. It also offers favorable rates and flexible qualification requirements compared with other lenders. In this review, I will walk you…

Nov 14, 2024
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8 Most Common Business Loan Terms to Be Aware Of

Common business loan terms or criteria can vary based on the type of financing you seek—such as term loans, business credit lines, equipment financing, and merchant cash advances. Depending on the loan type, various terms and conditions of the loan can be applicable and are often influenced by the lender’s risk tolerance and your creditworthiness…

Nov 13, 2024
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Apple Business Financing: How It Works & Alternatives

If your business uses Apple products as part of its operations, Apple offers a business financing program that can provide affordable leasing options. Depending on the lease type you need, you can either return the equipment at the end of the term or opt to retain ownership. Apple has partnered with FCB to provide financing…

Nov 12, 2024
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What Is a Variable Interest Rate? Impact on Loans and Credit Cards

A variable interest rate, which is also commonly known as a floating or adjustable rate, is used as part of a financing agreement that represents a rate of interest that can change periodically. In contrast with fixed rates that have the same interest rate over a term, variable interest rates can fluctuate based on market…

Nov 4, 2024
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What Is an Investment Property Line of Credit?

An investment property line of credit is a revolving credit facility that allows you to request funds via a draw, have the funds deposited to your account of choice, and use the funds on an as-needed basis. For an investment property, a line of credit can be used to finance property improvements, repairs and upgrades,…

Nov 4, 2024
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10 Best SBA Lenders for Small Businesses

Small Business Administration (SBA) loans typically involve a heavy amount of documentation and getting approved can take between 45 and 90 days. Working with an experienced SBA lender, however, can help streamline the process and get you funded more quickly. The 7(a) program is the most popular type of SBA loan, so we’ve compiled a…

Nov 4, 2024
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What Is a Delinquent Loan & When Does It Go into Default?

A loan is considered to be delinquent when the borrower has missed one or more payments and is behind on their repayment schedule. Generally, a delinquent loan means that the borrower has broken the terms of their loan agreement and will likely be charged a late fee and have the delinquency reported. In this stage,…

Oct 28, 2024
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Current SBA Loan Rates

Small Business Administration (SBA) loans are still one of the more affordable financing options that offer favorable rates and terms to qualified borrowers. SBA loan interest rates are reviewed periodically and can vary depending on the type of SBA loan, the lender, and the required business qualifications. While these rates have been trending upward over…

Oct 23, 2024
Cannabis Business Financing
7 Best Types of Cannabis Business Financing

Getting financing for a cannabis business can be a challenging endeavor since many lenders are unable to lend within the industry due to state and federal regulations. However, there are a few ways to secure funding for a cannabis business depending on your needs. We’ve compiled a list of potential financing options that may be…

Oct 22, 2024
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Best Commercial Real Estate Loan Rates

Getting the best commercial real estate loan rate will depend on your qualifications as a borrower and the loan type you’re looking to get to finance your real estate investment. Rates will vary depending on the lender and loan details, so it’s best to consider several options. Commercial real estate loans can be obtained from…

Oct 21, 2024
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7 Best Personal Loans for Business Funding

The best personal loan for business should provide flexible qualification requirements, low rates and fees, and quick access to funds. For businesses ineligible for traditional business financing, this alternative route may be easier to qualify for. However, while getting those approvals can be easier, they may come at the cost of higher rates. Here are…

Oct 21, 2024
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