An annual percentage rate (APR) and interest rate both represent the annual cost of borrowing as a percentage of the borrowed amount. Lenders use your interest rate to calculate monthly payments and disclose the APR. APR includes some fees in addition to interest resulting in a more comprehensive annualized cost of borrowing. What an Interest…
All Financing Articles - Page 21
7 Best Cash Flow Lenders 2020
The best cash flow lenders offer business term loans and lines of credit, invoice financing, and merchant cash advances. They’re used by businesses to meet obligations or replenish inventory. Cash flow loans can be approved in minutes with an online application, funded in 24 hours, and have rates that start at 9% APR. 7 Best…
How to Refinance Your Business Loans in 4 Steps
A business loan refinance can lower your current APR, reduce the frequency of your payments, and even unlock additional working capital for your business. The most common loans used for business refinancing are SBA loans and traditional small business term loans. In this article, we’ll show you how to refinance business loans in four steps….
10 Best Personal Loans for Business Funding 2020
Personal business loans allow you to get a loan based on your personal credit and finances, with proceeds going towards your business. These unsecured loans are a good option if you are unable to qualify for a business loan. We evaluated loan amounts, costs, and terms to determine the best personal loan for business needs….
8 Best Microlenders 2020
Microloans are smaller loans, typically up to $50,000 with low minimum qualifications. Microlenders typically help newer businesses and startups get funding. The best microlenders offer low rates, generous repayment terms, and nationwide funding. We evaluated the top microlenders and selected the eight best microloans you can apply for today. Top 8 Microlenders 2020 How We…
Who Gets SBA Loans? SBA Loans by Industry
Small Business Administration (SBA) loans are a common source of financing for businesses. However, many businesses find qualifying for SBA loans to be difficult. Using data from the SBA, we have broken down SBA loans by industry to find which are receiving the most loans, the most funding, and which have the highest repayment rates….
OnDeck Line of Credit & Top Alternatives 2019
An OnDeck line of credit is an unsecured revolving loan up to $100,000 which can be used repeatedly once it’s repaid. A small business line of credit can help cover expenses like payroll and utilities, and it can be used to free up cash flow to offer terms to customers or discounts from vendors. OnDeck…
SBA Lending Statistics State-by-State 2019
During 2018, the Small Business Administration (SBA) funded more than 66,000 loans through the 7(a) and 504 programs. These loans provided over $30 billion to small businesses throughout the United States, supporting nearly 600,000 jobs. Interestingly, SBA lending in 2018 primarily supported fast food and fitness franchises. Note: The following SBA statistics are based on…
SBA Startup Loans: Definition, Cost, Features & Providers
The Small Business Administration (SBA) offers SBA startup business loans to help get new businesses off the ground. SBA loans are available for up to $5 million, with rates ranging from 7.75% to 10.25%, and terms of up to 10 years (25 years for real estate). You can apply through a traditional bank. One great…
10 Venture Capital Advantages & Disadvantages
Like other startup funding options, venture capital advantages and disadvantages should be considered before funding. Venture capital offers funding to startups that are growing quickly in exchange for equity. It also eliminates debt payments and provides founders with advice and guidance. These are only some of the pros and cons of venture capital to consider….
Venture Capital: Definition, What It Is & Who It’s Right For
Venture capital focuses on funding startups with high growth potential in exchange for equity in the company. It’s a good option for startups needing $100,000 to over $25 million in funding to scale. To apply, you must find the right venture capital firm, pitch your company, and pass its due diligence process. What Is Venture…
Angel Investors: What They Are & Who They’re Right For
Angel investors are wealthy individuals who fund early stage startups with their own capital. They do so for convertible debt or equity ownership. They also mentor, advise, and make introductions that benefit the business. Angel investment is best for early stage startups with traction after raising funding from friends and family. What Is an Angel…