Lauren McKinley

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…

Crowdfunding can be a valuable financial tool for businesses looking to raise money without taking out a traditional business loan. However, there are numerous factors that go into the success of a crowdfunding campaign, and we’ve compiled a list of important crowdfunding statistics that may help your fundraising efforts. These statistics include data referencing geographical…

The best financing options for Amazon businesses should offer a variety of loan options, a quick approval and disbursement process, excellent customer service, and flexible qualification requirements. Amazon Lending has designated third-party providers it recommends that are in collaboration with Amazon, and we’ve also included our recommendations for alternative lenders if those programs aren’t suitable…

Essentially, Form 413 outlines your financial status across various accounts, income, assets, liabilities, etc. It provides the participating lender with information regarding your overall creditworthiness. It’s one element of the lending decisioning process that can play a major role in your approval status since it can be used to evaluate whether or not you’re able…

Credit card fraud, the most common form of identity theft in the US, can happen to anyone. It’s a global issue that can cause major problems if you don’t take proper steps to protect yourself. To demonstrate the effects of credit card fraud and how it can impact you and your business, we’ve compiled a…

A balloon mortgage is a type of loan that requires low or no monthly payments and requires a lump-sum payment at the end of the loan term. It differs from fully amortized loans where equal installments of the total balance are repaid over a period of time, and with a balloon mortgage, the remaining balance…