There are several types of short-term business loans designed to give businesses quick access to needed capital. The most common types include short-term loans, business lines of credit, accounts receivable financing, and merchant cash advance. Costs vary based on the type of short-term loan, with interest from 6%–120% APR. How Short-term Business Loans Work Short-term…
All Financing Articles - Page 13
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What Is Merchant Financing?
Merchant financing is a short-term working capital for business owners that accept credit card transactions. Credit card processing companies offer this financing, and they base loan amounts and repayment terms on a business’s credit card receivables, similar to a merchant cash advance. Merchant financing has high costs, low minimum requirements, and quick funding speeds. What…
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Merchant Cash Advance vs Business Loan: What’s Best
Merchant cash advances (MCAs) and business loans are both financing options that provide small businesses with working capital. While both can be beneficial for small businesses, there are tradeoffs in costs, terms, and qualifications that business owners should consider. For most borrowers, a business loan is best, but an MCA also has uses. Merchant Cash…
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Short-term Business Loans: Definition, Costs & Providers
A short-term business loan supplies working capital for businesses to meet various needs, and may be secured or unsecured. Short-term loans typically have repayment terms up to two years. Interest rates start around 6% with the average APR on short-term business loans between 30% and 50%. Short-term Small Business Loan Providers Banks, online lenders, business…
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What Is a Term Loan & Where Can You Find One?
A term loan is the most common form of small business loan, and what most people think of when they think of a loan. With a term loan, the length of repayment is set when the loan is made, and the borrower makes regular recurring payments over this time period to repay the loan. What…
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What Is a Personal Guarantee, and How Do I Negotiate One?
There are some types of loans that don’t require personal guarantees, but most lenders require personal guarantees from small business owners. The personal guarantee pledges personal assets to the lender, which it can pursue if the business defaults. It’s required from anyone that signs the loan, and business owners may be able to negotiate it….
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6 Best Easy Business Loans 2020
With so many online lenders these days, getting a small business loan has become much easier. Easy small business loans have short applications, simple repayment options, easy-to-manage accounts, and fast funding process. Easy business loans can get funded in 24 hours and help small business owners save time so they can focus on their business….
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What Is EBITDA: Formula, Definition, and History
Earnings before interest, taxes, depreciation, and amortization (EBITDA) is a measure of a company’s revenue before accounting for deductions related to interest expense, taxes, depreciation, and amortization. It is a method of determining the health and value of a business that discounts how the business is financed as well as accounting and tax strategies. What…
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Merchant Cash Advance Calculator
How to Read Your Merchant Cash Advance Calculator Results Factor rate: The factor rate is what merchant cash advance providers use to determine the total amount you’ll need to repay. The factor rate for a merchant cash advance typically ranges from 1.1x to 1.5x the amount advanced. If you receive a factor rate above 1.5x…
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What Is Asset-based Lending? The Ultimate Guide
Asset-based lending is a form of business financing that uses a business asset as collateral for a loan. If you default on the loan, the lender can take possession of the asset. Typical types of asset-based loans include accounts receivable financing, inventory financing, equipment financing, or real estate financing. What Asset-based Lending Is Asset-based lending…
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APR Calculator: What It Is & How to Calculate
How to Read Your APR Calculator Results Interest rate: This is the primary input for the APR calculator and represents the annualized cost of borrowing money without fees. The calculator assumes that the interest rate is fixed throughout the life of the loan. Repayment term: This input is the number of years that the loan…
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26 Key Small Business Loan Requirements To Know
If you’re trying to qualify for business financing, you’ll have to comply with certain small business loan requirements. Knowing the typical requirements prior to applying for financing can save you a lot of time and frustration as a business owner. We’ve compiled a list of key small business loan requirements. To ensure that you are…
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