A microloan is a small loan, generally up to $50,000, made to startups and emerging small businesses. These loans are offered by nonprofit organizations known as microlenders. Microloans typically have repayment terms of up to seven years and offer favorable interest rates that are lower than those available through online lenders. What Is a Microloan?…
All Financing Articles - Page 20
How to Get a Small Business Loan in 4 Steps
Finding a small business loan is a necessity during business growth, but it can be difficult to find a loan you qualify for. The four basic steps for how to get a small business loan include evaluating your loan options, determining your eligibility, finding the right lender, and applying for the right loan. How to…
6 Best Purchase Order Financing Companies in 2020
Purchase order (PO) financing is a working capital solution used to fund inventory for outstanding customer orders. Purchase order financing companies directly fund suppliers for the manufacture and delivery of products to your customer. Businesses then send invoices to their customers, who send their payments directly to the PO financing company. Top 6 PO Financing…
Is Intuit QuickBooks Capital Right for Your Small Business?
Intuit QuickBooks Capital offers short-term loans in amounts up to $100,000. These loans carry expected APRs ranging from 12% to 32% and repayment terms up to 12 months. If you use QuickBooks Online, have a credit score of at least 620, and annual revenues of $50,000 or greater, you may be eligible. Small business owners…
12 Best Women Owned Business Grants
Business grants for women are financial incentives given to women-owned businesses. Grants are not loans, and are not required to be repaid once they’ve been awarded to you. Grants for women starting a business are offered by corporations or special interest groups, with goals to help female entrepreneurs succeed in growing and developing their businesses….
6 Best SBA Loan Providers for SBA Loans Under $350K
Finding the provider that offers the best SBA loans under $350K can be a challenge. The top lenders are often ranked by their total SBA loan volume but don’t typically indicate funding size. We’ve evaluated SBA loan providers to determine the top six for SBA loans under $350K. Best Overall SBA Loan Provider Under $350K:…
PayPal Working Capital & Alternatives: The Ultimate Guide
PayPal Working Capital offers quick small business working capital loans to borrowers with at least $15,000 in annual PayPal sales. PayPal Capital charges an upfront fee of up to 10%; you make payments through daily deductions of PayPal sales and it bases your repayment term on a percentage of your PayPal earnings. PayPal Working Capital…
Square Capital & 6 Top Alternatives for 2020
Square Capital is a small business working capital loan that is repaid with a percentage of daily credit card sales processed through Square. Square Capital loans are used by businesses that need quick working capital financing and process sales through Square. Square Capital alternatives include business lines of credit, short-term loans, and invoice financing. Square…
9 Best Small Business Grants
Grants for small businesses are a treasure that most small business owners seek. They are offered by various government agencies, local governments, banks, lenders, and organizations. Because grants do not require you to repay them, they are highly sought after as a source of funding for startups and emerging small businesses. There are many small…
Best & Worst States to Get an SBA Loan
Based on data obtained directly from the Small Business Administration (SBA) for loans approved from 2010 to 2018, we have ranked the best states for SBA loans and the worst states for SBA loans. We evaluated the best and worst states in terms of access to SBA loans, average SBA loan amount, and repayment rate….
Minority Small Business Grants: What They Are and How to Get Them
Minority small business grants are financial incentives given to minority-owned businesses based on race, gender, personal status, or location. Grants are not loans, and don’t have to be repaid once they’ve been awarded. Minority business grants are offered by corporations or special interest groups, with the goal to help minority businesses. Choosing the Right Minority…
SBA 7(a) Loan: Rates, Terms & Requirements
Small Business Administration (SBA) 7(a) loans provide up to $5 million in financing to small, United States-based, for-profit businesses. They feature relatively low-interest rates ranging from 7.75% to 10.25%. SBA 7(a) loans are good for businesses needing long-term capital to fund working capital, equipment purchase, or commercial real estate acquisition. If the COVID-19 pandemic has…