All Financing Articles

What Is a Bad Credit Score?

By Yvette Glover on March 27, 2020 | Credit Scores and Reports, Personal Finance, What is | Comments (0)

People with bad credit have a FICO credit score below 580, or a VantageScore of 600 or lower. Unpaid debt and too many missed or late payments will result in low credit scores and bad credit. Bad credit could prevent you from getting a personal or home loan or from renting a property. What Is…

How Does Credit Card Interest Work?

By Benilyn Formoso - Suralta on March 27, 2020 | Credit Cards, Financing, Ultimate Guide | Comments (0)

Credit card issuers charge interest if you don’t pay your bill in full each month. It’s typically stated as a yearly rate known as the annual percentage rate (APR). To calculate your interest, divide your APR by 365 (days) to get the daily rate, then multiply your current balance by that rate. How Credit Card…

What Is Maturity Factoring?

By Dennis Shirshikov on March 26, 2020 | Financing, What is | Comments (0)

Maturity factoring offers small business owners an opportunity to get paid the value of receivables by the factoring company on the maturity date, which may be on or after the invoice due date. Both parties can agree to an alternative date; however, unlike traditional factoring, maturity factoring does not offer immediate funding. How Maturity Factoring…

What Is a Balance Transfer & How Much Does It Cost?

By Benilyn Formoso - Suralta on March 26, 2020 | Credit Cards, Financing, What is | Comments (0)

A balance transfer lets you move debt from one credit card to another, typically for a fee. Balance transfer fees usually range between 3% to 5% of the amount of your balance transfer, or between $5 to $10, whichever is higher. Some credit cards offer introductory 0% annual percentage rates (APR) on balance transfers for…

What a Factoring Reserve Account Is

By Dennis Shirshikov on March 26, 2020 | Financing, What is | Comments (0)

The factoring reserve is the amount a factoring company holds in reserve until a debtor pays the invoice. Once the debtor pays the invoice, the factoring company pays the reserve—or rebate—to the business that sold its invoice to the factoring company. The factoring company keeps a percentage, called the factoring rate, which is its fee…

7 Best Small Business Lines of Credit 2020

By Dennis Shirshikov on March 26, 2020 | Business Loans, Buyers Guide, Financing | Comments (0)

Business owners use small business lines of credit (LOCs) for short-term working capital needs because they can borrow funds repeatedly. The best small business lines of credit are unsecured, meaning there is no collateral like inventory or real estate. Some of the best business LOC providers can fund up to $250,000 the same day. 7…

Best SBA Lenders: Top 100 SBA Lenders

By Tricia Tetreault on March 26, 2020 | Business Loans, Directory, Financing | Comments (6)

With more than 3,000 SBA lenders nationwide, choosing the best SBA lender can be difficult. Some of the best lenders approve average Small Business Administration (SBA) loan amounts ranging from $75,000 to $1.5 million, with interest rates averaging 6.5% to 9.4%. We’ve provided reviews for the top 10 SBA lenders and listed the top 100…

Best Hard Money Lenders 2020

By Melanie Patterson on March 23, 2020 | Buyers Guide, Financing, Real Estate Investing | Comments (14)

Real estate investors in need of alternative financing sometimes rely on hard money loans. The best hard money lenders offer short-term loans to purchase and renovate properties. Hard money lenders charge higher interest rates but offer faster funding turnaround and, sometimes, no credit requirements. 8 Best Hard Money Lenders 2020 Which Hard Money Lender Is…

What Is Cash Back & How Does It Work?

By Benilyn Formoso - Suralta on March 20, 2020 | Credit Cards, Financing, Ultimate Guide | Comments (0)

Cash back is an incentive credit card issuers typically offer that refunds a small percentage of a cardholder’s purchases. You can apply your cash-back rewards to your credit card bill or redeem them as a check, bank deposit, for merchandise, or for store gift cards. Cash-back rewards usually range between 1% and 6%. What Is…

5 Best Unsecured Business Loans 2020

By Dennis Shirshikov on March 19, 2020 | Business Loans, Buyers Guide, Financing | Comments (0)

Some business owners can’t or don’t want to pledge specific assets—personal or business—as security for a business loan. Many traditional lenders require business loans to be supported by collateral, such as real estate or equipment. The best unsecured business loans offer large amounts of funding—quickly—with easy-to-meet qualifications. Top 5 Unsecured Business Loans How We Evaluated…

SBA Disaster Loans: Interest Rates, Qualifications & How to Apply

By Tricia Tetreault on March 18, 2020 | Business Loans, Financing, Ultimate Guide | Comments (2)

Small Business Administration (SBA) disaster loans provide businesses with affordable financing for disaster recovery. Businesses, nonprofit organizations, homeowners, and renters are eligible for funding with repayment terms up to 30 years and interest rates starting at 1.75%. Applicants can receive initial funding five days after signing loan closing documents. If you want to apply for…