Food truck loans allow businesses to borrow needed funds for the purchase of a new or used food truck. The loan is secured by the asset being financed. Because the vehicle is a specialty vehicle and has been built to serve, store, and potentially prepare food, the cost of the vehicle will typically be higher…
All Financing Articles - Page 2
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Commercial Real Estate Loans: The Ultimate Guide
A commercial real estate loan is most commonly used to purchase and/or renovate an owner-occupied commercial property. Commercial real estate loans typically cost 1% to 5% upfront and 5% to 12% per year in interest. Commercial mortgages are used to finance commercial real estate for mixed-use buildings, retail centers, and office buildings. For commercial real…
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Small Business Line of Credit: Types, Requirements, Rates & Terms
A business line of credit offers revolving financing similar to a credit card. The types of lines of credit fall into three categories: unsecured, secured, and personal. Unsecured business line of credit requirements are lower than secured options, but offer less funding. Costs typically start at 10% with funding from $5,000 to $5 million. How…
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How to Get Semi Truck Financing
Semi truck financing is a type of loan or lease where the vehicle acts as collateral to secure financing. About 80% of all goods in the U.S. are transported by semi truck, and roughly 350,000 trucks are driven by owner-operators. Semi truck loans allow those owner-operators and small businesses access to mission-critical lending. Smarter Finance…
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6 Best Companies Offering Equipment Financing for Bad Credit
Equipment financing for bad credit is challenging; however, it allows businesses to access needed equipment that can’t be purchased outright. Borrowers can work with a co-signer, or make a larger down payment on an equipment lease or loan in order to improve their chances of being approved for funding. We recommend Smarter Finance USA because…
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6 Best Online Business Checking Accounts 2019
An online business checking account is best for businesses that don’t need to make cash deposits at a physical branch location. The best online business checking accounts charge no monthly maintenance fees and pay better interest rates than many business savings accounts. Some accounts even offer an introductory APY up to 1.21%. Top 6 Online…
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6 Best Business Loan Brokers 2019
A business loan broker acts as an intermediary between borrowers and a network of lenders to present several lending options with one application. Small business loan brokers offer borrowers access to multiple lenders with the goal of finding the best type of financing at the lowest rates, typically at no cost to the borrower. Top…
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OnDeck vs LendingClub: Business Loans Review 2019
In comparing OnDeck vs LendingClub, both offer solid small business financing options. While both lenders offer similar funding amounts, OnDeck has a higher overall cost and shorter repayment terms. LendingClub can take up to a week to provide funding and, unlike OnDeck, doesn’t offer a business line of credit. When to Apply With OnDeck Business…
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6 Best Equipment Leasing Companies 2019
Equipment leasing is a type of financing where business owners make regular payments to equipment leasing companies and in return are granted access to machinery, tools, or equipment that they don’t yet own. We evaluated over 15 leading providers and narrowed it down to the six best equipment leasing companies nationwide. Top 6 Equipment Leasing…
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What a Mortgage Prepayment Penalty Is and Who Has to Pay
Prepayment penalties are fees some lenders charge borrowers who pay off their loans early, refinance, or pay a substantial portion. In 2014, prepayment penalties became restricted from residential loans on owner-occupied property, with some exceptions. Prepayment penalties are sometimes charged as a percent of the loan balance starting at 3% and declining over three years….
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Investment Property Line of Credit (LOC): The Ultimate Guide
An investment property line of credit (LOC) is a short-term financing option for non-owner-occupied properties. Investors will typically qualify for a predetermined amount and then draw cash from that amount as they need it. It’s revolving like a credit card where you only pay interest on the money you actually use. If you’re an investor…
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10 Best Business Credit Card Balance Transfer Offers 2019
Business credit card balance transfer offers allow you to move your balance from one card to another. The best business credit cards for balance transfers offer an introductory 0% APR period on balance transfers for up to 21 months. Additionally, cards on our list have ongoing variable APRs as low as 12.24%. Top 10 Best…
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