Purchasing a new or used semi-truck for your business is one of the most significant financial decisions you will ever make. The process can be lengthy and complicated. This guide will help reduce the stress of figuring out how to get a loan for a semi-truck. Included are general guidelines on the qualifications needed for…
SBA Loan Calculator: Payments & Amortization
A loan backed by the Small Business Administration (SBA) typically offers small businesses lower interest rates and longer terms than other financing options. Our SBA calculator will help you see just how affordable your SBA loan can be. How the SBA Loan Calculator Works Our SBA loan calculator is designed for SBA 7(a) and SBA…
5 Best Purchase Order Financing Companies in 2021
Purchase order (PO) financing is a working capital solution used to fund inventory for outstanding customer orders. When businesses deal with significant growth or face a spike in demand, purchase order financing can help meet those challenges. We have researched several PO financing companies, selecting the top five options that will serve the needs of…
5 Best Accounts Receivable Financing Companies in 2021
Accounts receivable (A/R) financing provides fast, affordable funding to help a small business’s cash flow or provide short-term working capital. A/R financing is based on the value of outstanding receivables that lenders choose to collateralize, providing businesses the funds they need. We’ve selected five of the best companies in A/R financing. : Best overall terms…
SBA 504 Loans: What They Are & How They Work
The SBA 504 loan program from the Small Business Administration combines two loans—one from a lender and one from a community development corporation (CDC)—that can be used for commercial real estate and other fixed assets like equipment. The lender portion covers up to 50% of the loan, the CDC portion covers 40%, and the borrower…
SBA Loans: Types, Rates & Requirements
The Small Business Administration (SBA) guarantees business loans issued by approved lenders. Although difficult to qualify for, SBA loans carry relatively low interest rates with terms up to 25 years. The six types of SBA loans are: SBA 7(a) Loans: Working capital up to $5 million SBA CDC/504 Loans: For purchasing owner-occupied commercial real estate…
7 Best Fast Business Lenders for 2021
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 July 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…
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…
How to Get an Unsecured Business Loan for Startups in 4 Steps
There is an inherent risk in lending to a startup, which is why unsecured business loans for startups are rare. Lenders typically protect themselves by requiring collateral. If you’re seeking an unsecured business loan, you should understand how they work, what your options are, and what the qualification requirements are before applying. The rates and…