All Business Loans Articles

SBA 8(a) Certification Requirements

By Tricia Tetreault on June 3, 2020 | Business Loans, Financing, How To | Comments (0)

SBA 8(a) certification requirements are primarily focused on the owner or owners of the business, their social and economic status, and net worth. While your business must be operating profitably, there are no debt-service-coverage or credit score requirements. When it comes to qualifying for the Small Business Administration 8(a) program, the certification requirements are, in…

What Is an SBA 8(a) Certification?

By Tricia Tetreault on June 3, 2020 | Business Loans, Financing, What is | Comments (0)

The Small Business Administration (SBA) offers qualifying small businesses the opportunity to apply for SBA 8(a) certification. This certification allows small businesses to contract with the federal government more easily for sole-source contracts to supply goods and services. While the SBA is most often referenced with regard to SBA loans, the agency provides other forms…

How to Complete the SBA 8(a) Application

By Tricia Tetreault on June 3, 2020 | Business Loans, Financing, How To | Comments (0)

Socially or economically disadvantaged small business owners may be interested in applying for SBA 8(a) certification, which allows exclusive access to sole-source federal government contracts. This is not a Small Business Administration (SBA) loan, but rather an opportunity for small businesses to compete for federal government contracts. As with any federal program, there is an…

Current SBA Loan Rates May 2020

By Tricia Tetreault on May 13, 2020 | Business Loans, Financing, What is | Comments (100)

The affordability of Small Business Administration (SBA) loan rates attracts many businesses that may not otherwise be able to obtain affordable financing. Whether you are considering an SBA 7(a) loan, Express loan, microloan, or Community Development Company (CDC)/504 loan, the SBA loan rates you receive will likely be more affordable than most other financing options….

10 Factoring Advantages and Disadvantages

By Dennis Shirshikov on May 11, 2020 | Business Loans, Financing | Comments (0)

Invoice factoring can help small business owners save time, access funding without collateral, finance growth, and receive large amounts of capital quickly. However, there are sometimes drawbacks like reduced control over invoice collections, the stigma of alerting customers to a factoring relationship, the high overall costs, and a reduction in profits. Each of these factors…

How to Apply for a Paycheck Protection Program Loan

By Tricia Tetreault on April 24, 2020 | Business Loans, Financing, How To | Comments (0)

Applying for a Paycheck Protection Program (PPP) loan is less daunting than applying for a traditional Small Business Administration (SBA) loan. Most lenders offer an online application process that allows you to upload your supporting documents simultaneously with the application. Fit Small Business examined the Paycheck Protection Program loan application process at numerous lenders and…

SBA Loans: Types, Rates & Requirements

By Tricia Tetreault on April 9, 2020 | Business Loans, Financing, Ultimate Guide | Comments (20)

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. Types of…

Best SBA Lenders: Top 100 SBA Lenders

By Tricia Tetreault on April 5, 2020 | Business Loans, Directory, Financing | Comments (8)

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…

Commercial Real Estate Loan Rates 2020

By Tricia Tetreault on April 1, 2020 | Business Loans, Financing, What is | Comments (4)

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…

How Invoice Factoring Works

By Dennis Shirshikov on March 30, 2020 | Business Loans, Financing, Ultimate Guide | Comments (26)

Businesses that invoice clients can assign unpaid invoices to a factoring company to get fast cash. For a fee, the factoring company advances a portion of the invoice value to the business. The factoring company then collects payment from the invoiced client and sends the business the remaining invoice balance. That’s how invoice factoring works….

7 Best Small Business Lines of Credit 2020

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

How We Evaluated the Best Business Lines of Credit When evaluating the best business lines of credit, we considered rates, terms, qualifications, and funding speed to be equally important. While most traditional lenders offer better rates, they also have higher qualification requirements and slower funding speeds on lines of credit. We selected the best business…