Qualifying for a business loan as a startup can be difficult. Entrepreneurs often need to utilize multiple financing sources to get their new startup off the ground. Startup business loans can take many forms, including SBA loans, angel investment, or Rollovers for Business Startups (ROBS), and each is unique in what they offer to startups….
About the Author
Tricia Tetreault
Tricia Tetreault is a staff writer at Fit Small Business, specializing in Small Business Finance. She holds a Master's in Business Administration from Champlain College and has spent the majority of her career working in federal government lending.
When she's not helping small businesses find the best financing opportunities, Tricia enjoys adventuring with her two children around her home in Vermont.
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How to Crowdfund Your Small Business
To successfully crowdfund your small business you will need to select the type of crowdfunding that best suits your needs as well as a platform to host your campaign. When you set up the campaign you will need to tell a compelling story and adequately describe how your product or business can benefit potential backers….
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Commercial Real Estate Loans: The Ultimate Guide
A commercial real estate loan is most commonly used to purchase and/or renovate an owner-occupied commercial property. Commercial real estate loans typically cost 1% to 5% upfront and 5% to 12% per year in interest. Commercial mortgages are used to finance commercial real estate for mixed-use buildings, retail centers, and office buildings. For commercial real…
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Startup Resources for Veterans 2019
Many veterans develop the skills and leadership ability in the military that they need to start their own business. There are a wealth of resources available to veteran entrepreneurs. We’ve compiled a list of 25 startup resources for veterans ranging from financing providers to training and mentorship opportunities—even programs that result in an educational certificate….
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How to Apply for an SBA Loan in 6 Easy Steps
There are six steps for how to apply for an SBA loan, including determining your eligibility, selecting an SBA loan type, finding a provider, assembling paperwork, and completing the SBA loan application and forms. Getting an SBA loan can take up to three months with traditional lenders, or approximately 30 days with a broker. For…
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Commercial Real Estate Loan Rates 2019
Commercial real estate loan rates remain at near all time lows, making now a great time for small business owners to purchase or refinance commercial property. A variety of different lenders make commercial real estate loans. This article covers how commercial real estate loan rates work and the interest rates that different types of lenders…
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SBA Loan Rates 2019 – Current Interest Rates and How They Work
The affordability of Small Business Administration (SBA) loan rates attracts many small businesses that may not otherwise be able to obtain affordable financing. Whether you are considering SBA 7(a) loans, Express loans, microloans, or Community Development Company (CDC)/504 loans, the SBA loan rates you receive will likely be more affordable than most other financing options….
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SBA Business Plan Template & Checklist
Businesses applying for a loan through the Small Business Administration (SBA) can benefit from a well-prepared business plan. Using an SBA business plan template can simplify the task of creating a business plan for your business. To assist you, we’ve defined the key components that should be included in your SBA business plan. What an…
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SBA Loans: Types, Rates & Requirements
The Small Business Administration (SBA) guarantees business loans issued by approved lenders. SBA loans, though difficult to qualify for, carry low interest rates up to 11% with terms up to 25 years. The six types of SBA loans are 7(a) loans, community development corporation (CDC)/504 loans, CAPLines, export loans, microloans, and disaster loans. Our recommended…
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SCORE Small Business Mentoring: The Ultimate Guide
SCORE small business mentoring is offered through the national nonprofit, Service Corps of Retired Entrepreneurs (SCORE). The program is free and matches up business owners with volunteer mentors. There are thousands of mentors nationwide, making it possible to find an experienced mentor whose expertise matches your business needs. What SCORE Is SCORE is a nonprofit…
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Small Business Debt Relief: Consolidation Loans & 6 Other Options
Business debt relief can be achieved through loan consolidation, expense reduction, renegotiating the terms of your current debt, or by increasing income. Loan consolidation and refinancing are the most common forms of small business debt relief, and can often result in lower interest rates, longer repayment terms, and less frequent payments. An SBA loan with…
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Currency Equipment Loans & Top Alternatives 2019
Currency Capital is an equipment financing marketplace offering up to $2 million, with repayment terms of two to six years. Interest rates range from 6% to 24% APR. Businesses with at least six months of operations and minimum credit scores of 585 may be eligible. We’ve compared Currency Capital loans to some top financing competitors….
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