Lauren McKinley

The main difference between purchase order financing vs factoring lies in when they’re used. PO financing is utilized when you need funding to pay for materials or services to produce tangible goods that have not yet been delivered to your customer. Invoice factoring is used when you have already delivered and completed a customer order but have…

Unsecured business loans for startups can help businesses bridge the gap between business needs and capital resources. We’ve outlined the applicable steps on how to get an unsecured startup business loan to help prepare you—from evaluating the type of loan you need and choosing a lender, to submitting your application and accepting the loan agreement….

A convertible note is a short-term financial document that allows a business to receive cash in exchange for equity in a company. This agreement is utilized by startups to receive support from angel investors, venture capitalists, or other types of private investors. Investors provide funding with the assumption that those funds will be repaid or…

A current liability is any financial obligation that has an amount due within the next 12 months. It can be found on your company’s balance sheet and can include loan payments, payroll expenses, and accounts payable (A/P). It’s an important figure to know because it will help ensure that you have enough assets to satisfy…

The 5 C’s are used by lenders to evaluate potential risk when determining a borrower’s creditworthiness and ability to repay a loan. Each lender has their methods of valuing each category and uses their judgment during the approval process before extending financing. The 5 C’s of credit are as follows: Character: This demonstrates your reliability…

Our hard money loan calculator offers insight into the potential price of a loan, along with any associated costs. You can find out your monthly payment, total interest expenses based on how quickly you can repay the loan, and other closing costs that need to be paid in connection with the loan. Hard money calculator…

Semi-truck financing has different requirements and considerations from other small business loans. In this article, we will walk you through how to get semi-truck financing so that you can prepare accordingly and streamline the application process. We’ll go over everything from determining your needs and considering insurance coverage to choosing a lender and preparing documentation…

If you’re searching for a private money lender to help financially support a real estate investment, it can be a challenge to find one that offers terms and conditions that apply to your investment needs. You’ll need to be prepared to set aside some time to search for a lender and take actionable steps to…

A private money lender offers financing outside of traditional lending institutions and is typically used to assist in the purchase or refinance of a real estate investment. There are various types of lenders, such as friends and family, hard money lenders, mortgage companies, and other private lending firms. Utilizing these lenders offers financing opportunities that…

The best small business grants for women offer financing opportunities for women-owned businesses to help support their business goals. They should also provide both business and educational resources, specifically for female entrepreneurs seeking funding for business development outside of getting a traditional loan. We’ve compiled a list of the best small business grants for women…

The best minority business grants are available to a variety of businesses, typically based on race, gender, or location. They should provide valuable funding opportunities exclusive to marginalized groups that have previously been overlooked and underfunded and award funds that can be used to support the growth of a business. : Best for women-owned small…

The differences between a business loan vs personal loan are their rates, terms, and eligibility criteria: Business loans apply only to business expenses and require credentials based on business history. Personal loans are more flexible and generally are easier to qualify for because of being based on the borrower’s personal financial circumstances. In the matter of…