A loan backed by the U.S. Small Business Administration (SBA) can be the least expensive way to get capital for many small businesses. They typically offer small businesses lower interest rates and longer terms than other financing options. Our SBA loan calculator will help you see just how affordable your SBA loan can be. How…
All Financing Articles - Page 2
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SBA Loan Requirements & Qualifications 2020
Small Business Administration (SBA) loan requirements determine your eligibility to qualify for funding and are focused on the characteristics of you and your business. Borrowers need to have excellent credit and strong financials that demonstrate their ability to repay the loan. Other SBA loan qualifications include having adequate collateral and providing a personal guarantee. If…
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SBA Line of Credit: CAPLine Rates, Terms & Qualifications
Small Business Administration (SBA) CAPLines provide businesses up to $5 million for recurring cash flow needs. With an SBA CAPLine, or SBA line of credit, interest rates are typically 5% to 10%. An SBA line of credit allows you to use the funds repeatedly as they are repaid. Funding generally takes 45 to 90 days….
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Best Equipment Loans for a Startup Business
An equipment loan for a startup business allows that business to borrow money to purchase necessary equipment. They can be difficult to obtain for startups as most lenders require at least two years in business. However, equipment loans are available from some lenders for borrowers with at least 650 credit with rates starting around 6%….
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What Is a Merchant Cash Advance: The Small Business Owner’s Guide
A merchant cash advance (MCA) is a financing product wherein businesses receive funds upfront in exchange for a fixed percentage of their daily credit card receipts. MCA providers charge a cost of capital of 1.1x to 1.5x the amount advanced (35% to 150% APR), and lenders take payments directly from credit card sales. What Is…
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How Business Credit Affects Personal Credit Scores
How business credit affects personal credit scores depends on whether or not there is a personal guarantee involved. Most credit card issuers require a personal guarantee, and making timely payments may boost your personal credit score. Business credit can also cause your personal score to decrease if you default on payments. Whether your business is…
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How Do Business Credit Cards Work?
Business credit cards are short-term funding options for owners looking to finance ongoing business expenses. These cards have costs, including annual percentage rates (APRs) and annual fees. They allow business owners to keep personal expenses separate as well as manage employee expenses. Owners will need at least a personal credit score of 640 to qualify….
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20 Sheryl Sandberg Quotes on Business, Success & Leadership
Sheryl Sandberg is the chief operating officer of social media network Facebook, an author, gender-equality advocate, and the founder of Leanin.org. She has a current net worth of $1.8 billion. Sheryl Sandberg quotes are a great source of motivation for those who want to achieve success in both business and leadership. Here are the top…
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7 Best Term Loans 2020
Term loans—loans with fixed repayment terms—are a common source of small business financing. These loans are repaid through regular payments over the predetermined term of the loan. We’ve evaluated business term loans based on costs and qualifications to deliver a list of the seven best term loans for your small business consideration. 7 Best Business…
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How to Choose a Business Credit Card & Requirements to Get One
Understanding how to choose a business credit card is a seven-step process. The process includes knowing how a business credit card works, reviewing where your business spends the most, and examining potential fees and rewards. Your business’s spending goals and the rewards or perks you want to receive likely determine the best card for you….
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Types of Invoice Financing for Small Businesses
Invoice financing is the process business owners rely on to borrow against unpaid invoices and receivables. The industry offers small business owners multiple options that include factoring, discounting, selective financing, spot factoring, and invoice auctioning. These types of invoice financing for small businesses have varying costs, terms, and requirements. Invoice financing is part of a…
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How to Build Business Credit in 30 Days or Less
There are several steps for how to build business credit in 30 days, which include creating a business profile, reviewing credit reports, and beginning to build good payment habits. Building good business credit means you’re more likely to get approved for a business loan and qualify for lower rates. Opening a business credit card is…
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