Lauren McKinley

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,…

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…

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…

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…

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…

There are forms of collateral that are more common than others, which are often associated with the loan type you choose. We’ve compiled the most common types of collateral that may be requested when applying for a business loan: real estate, cash, investments, blanket lines, equipment, inventory, and invoices. 1. Real Estate For mortgages, the…

A balloon payment is the final amount due following a repayment structure that has a series of smaller monthly payments, with a larger lump sum due at the end of the loan term. Monthly payments can be interest-only or include principal, and the remaining principal amount is to be repaid in full with the last…

IRS Form 5500 is a form that must be filed annually by companies that sponsor an employee retirement plan. Its main purpose is to provide information about the plan, such as its financial condition and allocation of investments. The form typically needs to be filed on the last day of the seventh month after the…

The best bad credit business loans have a credit score requirement no greater than 600, along with other flexible qualification criteria. They should also offer a combination of excellent customer service, fast funding speeds, and low documentation requirements to apply. Since the best type of loan will depend on your specific business needs and qualifications,…

When signing a lease, a guarantor or cosigner may be required as part of entering a financial agreement. This is a common request and is typically required of borrowers with less-than-ideal credit or finances. The difference between a guarantor and a cosigner typically lies in the level of responsibility required of each. Essentially, both options…

The best hotel financing options will have a combination of low rates, flexible loan terms, easy qualification requirements, and excellent customer service. Funds from the best loans can be used to cover a variety of expenses applicable to hotel financing, such as the purchase or renovation of a building, expenses associated with acquiring business equipment…

Factor rates are used for alternative forms of financing, commonly associated with short-term loans or merchant cash advances. It differs from traditional interest rates, where instead of being expressed as a percentage, a factor rate is expressed as a decimal and represents the total cost of repayment. Essentially, a factor rate represents the total cost…