Fast business loans are short-term financing options that make funds available in one to three business days. They’re best for businesses needing short-term working capital for payroll, inventory, and expenses. We compared the top providers according to their terms, costs, and qualifications and chose the top seven options for fast business loans. : Best overall…
6 Best Working Capital Loans 2021
A working capital loan is short-term business funding used to finance a company’s day-to-day operations, like buying inventory or covering payroll. Common small business working capital loans are lines of credit, term loans, invoice financing, and merchant cash advances (MCAs). We reviewed working capital loan providers on costs, terms, and qualifications to identify the top…
5 Steps to Get the Small Business Loan You Need
Obtaining a small business loan is a necessity for business growth or sustaining operations. However, it can sometimes be challenging to find a loan for which you qualify. Here are five steps to getting the small business loan that you need: Determine what you need the funds for: Knowing the specific purpose of the funds…
Current SBA Loan Rates June 2021
The affordability of Small Business Administration (SBA) loans 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 CDC/504 loans, the SBA loan rates you will receive will likely be more affordable than many other financing options. Current SBA Loan…
6 Best Rollover for Business Startups (ROBS) Providers for 2021
A rollover for business startups (ROBS) is a financing solution that lets you start or purchase a business with your retirement savings without paying taxes or early withdrawal penalties. Because of the compliance requirements and complexity involved in doing a ROBS, we recommend using an experienced ROBS provider. We have compared the best ROBS providers…
8 Best Small Business Lines of Credit for 2021
Business owners often utilize small business lines of credit for working capital needs or to assist their business’ cash flow over a short period of time. The best small business lines of credit combine ease of access to capital, competitive interest rates, and offer the advantage of not requiring collateral. Based on these factors, we’ve…
Rollover for Business Startups (ROBS): Ultimate Guide 2021
A rollover for business startups (ROBS) allows you to invest funds from an existing 401(k) or individual retirement account (IRA) into your business without paying early withdrawal penalties or taxes. A ROBS is not a business loan nor a loan from your 401(k), which means there are no interest payments to make or debt to…
Report: Only 5.8% of Smallest of Small Businesses Got a PPP Loan
Only a small percentage of eligible self-employed workers, freelancers, gig workers, and sole proprietorships received Paycheck Protection Program (PPP) loans. Those that did receive loans received their funds much later than other companies. Paycheck Protection Program data through January 2021 posted by the Small Business Administration (SBA) shows that only 1.1 million first-draw loans have…
The Best Hard Money Lenders for 2021
With no proven track record, new investors can struggle to find investment property financing. Even experienced investors sometimes can’t get funding for a growing portfolio. This is where hard money loans can help. We’ve evaluated the five best hard money lenders for funding both new and experienced real estate investors. Which Hard Money Lender Is…
50+ Paycheck Protection Program Loan FAQs
The Paycheck Protection Program (PPP) is a new loan from the Small Business Administration (SBA) intended to help businesses meet payroll costs. The loan can be forgiven and converted effectively into a grant for qualified expenses. We’ve collected questions from around the web and on Facebook and provided answers to the most frequently asked questions…
Paycheck Protection Program Loans: The Ultimate Guide
Small business owners can borrow up to $10 million to pay for payroll, rent, mortgage interest, and utilities under the newly available Paycheck Protection Program (PPP) loan. The loan is available from any Small Business Administration (SBA)-approved lender as well as through online loan brokers. Loan proceeds used for eligible expenses will be forgiven for…
What the COVID-19 Stimulus Package Means for Small Businesses
The United States Congress has passed several measures in response to the COVID-19 pandemic designed to help small businesses, including tax rebates, tax-filing extensions, business loans, emergency relief, and modified tax treatment. Perhaps the most significant benefit, the Paycheck Protection Program (PPP) loan, which can convert into a grant for small business owners that use…