Lauren McKinley

Long-term business loans can provide you with the opportunity for longer repayment periods, helping maintain cash flow and allowing for overall business growth. The best long-term business loans will have a wide range of repayment terms, favorable interest rates, and flexible qualification requirements. I’ve reviewed the best options across various lenders offering long-term financing. Below…

What is a no-doc business loan? While almost all other loans will require some form of documentation, a no-documentation, or “no-doc,” business loan is meant to provide you with quick access to financing, usually with a simplified application process inclusive of just bank statements and business information. It is typically applicable to borrowers with limited…

The default rate is a calculation that includes all loans issued by a lender that have been written off as unpaid by the borrower and are officially in default. Loans typically go into default after an extended period of missed payments, and they are considered to be in violation of the terms of the loan…

A business loan broker acts as an intermediary between a borrower and a lender to help secure business financing. Essentially, a broker utilizes your financing application to research and pair you with financing options applicable to your needs. With this, you can save time and money when shopping around for a lender. It’s worth noting…

A Certificate of Beneficial Ownership (CBO) form is a document required by financial institutions in which a legal entity discloses information and the identities of individuals considered to be beneficial owners? of the business. It is commonly used when obtaining financing and opening business bank accounts. It’s deemed necessary by the Financial Crimes Enforcement Network…

The main difference between debt vs equity financing is their return on investment (ROI). Debt financing has repayment obligations in which you, the borrower, pay back the loan with interest, whereas equity financing involves giving up ownership stakes in exchange for funding with no expectation of repayment. Debt financing Debt financing involves borrowing funds from…

A business loan agreement has many elements that outline the various terms and conditions associated with getting a loan — including the loan amount, the interest rate, the repayment schedule, penalties, covenants, and dates. Understanding each of these can help you outline the terms and conditions of your transaction and supply you with the knowledge…

An applicable federal rate, also commonly known as an “AFR,” is the minimum interest rate required of a private loan. It is enforced and designated by the IRS and applies to loans with an interest rate lower than the tax rate if the loan is considered income. There are differing AFRs assigned to various loan…

Series A, B, C, and D funding are rounds of financing that are provided after an initial investment of funds, typically known as the “seed funding stage.” Each round allows investors to partake in an investment of a high potential startup or small business in exchange for a stake in equity. These rounds typically have…

The best construction factoring companies should offer large funding amounts, competitive rates and fees, and quick access to funds. They should also have a combination of flexible qualification requirements and favorable financing terms, such as long repayment periods and no long-term contracts. Here are my top picks for the six best invoice factoring for construction…

UCC filing vs lien: What’s the difference? Before we dive deeper, I’d like to kick off with the fact that a UCC filing and a UCC lien cannot be used interchangeably — that’s a common misconception. Instead, they are differing elements that are part of the process of placing a claim on an asset. A…

Our SBA loan payment calculator will help you determine what your potential SBA loan payments may look like. It also provides a full amortization schedule that can demonstrate what amount of principal and interest you’ll be expected to pay. SBA 7(a) loan calculator inputs The inputs necessary for our SBA (7(a) loan calculator include items…