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…
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…
Fast Business Loans: 6 Best Quick Business Lenders 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 six fast business funding options. Top 6 Fast Business…
How to Get Unsecured Business Loans in 5 Steps
If you require an influx of capital for your business, a business loan can be a good option. However, if your business doesn’t have many assets, you’ll have to qualify for an unsecured loan, which is much more difficult than qualifying for a secured loan backed by property. Instead of collateral, unsecured loans use a…
Business Loan Cosigner: When Should You Use One?
When taking out a business loan, a cosigner is a person who is willing to give the lender a personal guarantee to repay the loan in full. This increases your chances of getting an approval because the business loan cosigner becomes 100% liable for the loan in the event that you fail to make payments….
5 Best Professional Loan Options for Your Business
Business professionals like certified public accountants (CPAs) and consultants bill their clients hourly or by project. While waiting for payment, working capital can be scarce. Professional loans offer financing for short-term expenses and long-term projects. The best professional business loans offer quick funding, long repayment terms, and easy to meet qualifications. Top 5 Professional Business…
Home Care Loans: Costs, Terms & Requirements
A home healthcare loan can help small businesses fund a territory expansion, new business acquisition, or finance immediate working capital needs. Because of the speed of growth in the home healthcare industry, the best home healthcare business funding options are quick and inexpensive. These loans can help you get quick access to growth capital. Best…
Retail Business Loans: Costs, Terms & Requirements
Retailers often get financing to grow their business or to purchase inventory and ramp up for busy times of the year. Retail business loans come in various forms, such as a short-term business loan that can be used to cover expenses in preparation for the busy season, or a Small Business Administration (SBA) loan to…
Amazon Lending & Alternative Funding Options for Your Business
Amazon Lending is an invitation-only short-term business loan that helps Amazon sellers fund inventory purchases, but it’s not available to everyone. For those who do not have access to Amazon Lending, there are other options. We reviewed Amazon Lending and the top alternatives to help fund your business inventory and working capital needs. Amazon Lending…
6 Best Commercial Real Estate Loans
A commercial real estate loan is used by businesses to purchase, renovate, or refinance commercial properties. We’ve put together a list to find the best commercial real estate loans for any need, including retail shopping centers, office buildings, and mixed-use buildings. Top Commercial Real Estate Loan Options How We Evaluated the Best Commercial Real Estate…
Beauty Salon Loans: Costs, Terms & Requirements
Barbers and stylists who own their salon may need financing for short-term working capital to expand the number of chairs and invest in retail products for added revenue. The best beauty salon loans provide quick access to financing for owners who have been in business for at least one year. Best Beauty Salon Loans at…
Contractor Loans: Costs, Terms & Requirements
Contractors needing to invest in materials and supplies for new jobs can get contractor loans. A good business loan for contractors is a line of credit, which you can use repeatedly and funds in just one to three days. Other loans for contractors include longer-term Small Business Administration (SBA) working capital loans for large, capital…