A personal loan for business allows you to borrow funds based on your personal financial condition and creditworthiness, making them a good fit for startup businesses. Personal business loans can include unsecured loans, home equity loans, and credit cards. Interest rates and repayment terms for personal loans vary based on loan type. can help you…
All Financing Articles - Page 22
Real Estate Investing for Beginners
Real estate investing is a way to build wealth, generate passive income, and take advantage of numerous tax benefits. Becoming an investor requires some education about the business, upfront capital, and the ability to use leverage to your advantage. Real estate investing for beginners usually requires $5,000 to get started. How Real Estate Investing Works…
BlueVine vs Kabbage: Costs, Terms & Which is Best in 2020
BlueVine and Kabbage are leading providers of business lines of credit. Both offer up to $250,000 with expected APRs starting at 18% and six- or 12-month terms. BlueVine requires a minimum of six months in business and $100,000 revenue, while Kabbage requires one year in business, but less in revenue ($50,000). BlueVine vs Kabbage at…
10 Pros and Cons of Angel Investors
An angel investor is a wealthy individual that invests money in startups. Founders that are past the idea stage with a product and some early traction are best suited for angel funding. The availability of angel investment is a key advantage for startups, while the cost of equity is its largest drawback. Most angel investors…
Using a HELOC or Home Equity Loan to Finance Your Business
Taking out a home equity line of credit (HELOC) or home equity loan to finance your business is easier than getting traditional startup business loans. Individuals with equity in their home and strong personal credit can use HELOCs for ongoing expenses, whereas home equity loans are best for large one-time expenditures. If you’re shopping for…
Patriot Express Loans: What They Were & Alternatives
Patriot Express Loans were offered by the Small Business Administration (SBA) from 2007 to 2013, when the pilot program ended. Patriot Express Loans offered veteran-owned businesses loans at reduced interest rates and fees, with an expedited approval process. When the program concluded, many of the advantages offered became available through the SBA Express Loan program….
SBA Community Advantage Loan Program – What You Need to Know
The SBA Community Advantage Loan is designed for small businesses needing working capital, equipment financing, and real estate. Offered through participating lenders, this Small Business Administration (SBA) loan is targeted at businesses that don’t qualify for traditional financing and need up to $250,000 at rates of 10% – 12% for up to 25 years. What…
How to Get a Business Line of Credit in 6 Steps
A small business line of credit is used for smaller ongoing expenses such as payroll, inventory, and working capital. It typically has shorter repayment terms and higher rates than term loans, but you are only charged for the amount you use. To apply, you’ll need to select a lender, prepare documentation, and submit an application….
Putting Personal Money Into a Business in 7 Steps
Putting personal money into a business can help you overcome startup funding needs, but can also create unnecessary risk if done incorrectly. You need to make sure you properly account for the money on your business books so you accurately track the amount your business either owes you or how much ownership you have. The…
SBA Express Loans: Types, Costs, Terms & Where to Find
A Small Business Administration (SBA) Express loan provides small businesses with long-term working capital up to $350,000. These loans feature interest rates of 4.5% to 6.5% above the prime rate and typically have a 10-year term. SBA Express loans carry fewer documentation requirements than 7(a) loans but still take 30 to 90 days to fund….
Small Business Debt Consolidation Loan: When to Consolidate Business Debt
A small business debt consolidation loan can lower your interest rates and reduce the size of your payments by taking your existing debts and refinancing them into one loan. Knowing when the timing is right for business debt consolidation depends on the terms of your existing debt, your business’s current finances, and your personal creditworthiness….
50 Best Franchises & 50 Worst Franchises by SBA Default Rates
Over 100,000 franchises are started in the United States annually. However, not all franchises are created equally. Using loan data obtained directly from the Small Business Administration (SBA) for 2000 – 2018, we evaluated the 50 best franchises based on SBA loan repayment rates and the 50 worst franchises based on SBA loan default rates….