A UCC lien filing, or UCC filing, is a notice lenders file when a business owner takes a loan against an asset. A UCC filing gives lenders a claim on assets a debtor pledges as collateral. The term originates from the Uniform Commercial Code (UCC), a set of rules governing commercial transactions. When a UCC…
SBA Loans: What Is an SBA Loan?
When a small business owner needs financing, the first option to come to mind is usually a loan through the Small Business Administration (SBA). While many people are familiar with the term “SBA loan,” they often aren’t clear on what these loans are, or even how to get them. We’ve provided a general overview of…
SBA 8(a) Certification Requirements
SBA 8(a) certification requirements are primarily focused on the owner or owners of the business, their social and economic status, and net worth. While your business must be operating profitably, there are no debt-service-coverage or credit score requirements. When it comes to qualifying for the Small Business Administration 8(a) program, the certification requirements are, in…
What Is an SBA 8(a) Certification?
The Small Business Administration (SBA) offers qualifying small businesses the opportunity to apply for SBA 8(a) certification. This certification allows small businesses to contract with the federal government more easily for sole-source contracts to supply goods and services. While the SBA is most often referenced with regard to SBA loans, the agency provides other forms…
How to Complete the SBA 8(a) Application
Socially or economically disadvantaged small business owners may be interested in applying for SBA 8(a) certification, which allows exclusive access to sole-source federal government contracts. This is not a Small Business Administration (SBA) loan, but rather an opportunity for small businesses to compete for federal government contracts. As with any federal program, there is an…
100+ Paycheck Protection Loan Providers
We are monitoring the application availability of more than 100 lenders to ensure small business owners know which local banks, national lenders, credit unions, and brokers are actively lending. This guide will be updated every morning to provide the information regarding the Paycheck Protection Loan is accurate and timely. The above providers are available nationwide…
Current SBA Loan Rates May 2020
The affordability of Small Business Administration (SBA) loan rates attracts many businesses that may not otherwise be able to obtain affordable financing. Whether you are considering an SBA 7(a) loan, Express loan, microloan, or Community Development Company (CDC)/504 loan, the SBA loan rates you receive will likely be more affordable than most other financing options….
Factoring Discount Rate: What Is It & How It Works
The discount rate in a factoring transaction is the fee a factoring company charges to provide the factoring service. It is a percentage of the value of the invoice that a factoring company will charge to process its receivables. A standard discount rate is 1.5% to 2.5% of the invoice value per 30 days. How…
Manufacturing Factoring: When to Use It and Top Providers
Manufacturing companies rely on invoice factoring to ensure positive cash flow during periods of growth or spikes in demand. A manufacturing company can receive an order, invoice the customer, factor the invoice, receive the cash, pay for wages and materials to produce the order, and receive the difference when the invoice is collected. The best…
4 Best Companies for Medical Factoring
Businesses in the medical industry are the most sought-after invoice factoring customers. This is largely due to the reliability of their debtors and the experience that factoring companies have in servicing this industry. Therefore, medical businesses seeking invoice factoring can be selective and shop around for the best rates and terms for their invoices. Top…
5 Best Invoice Factoring Companies 2020
With invoice factoring, a business can convert unpaid invoices into immediate cash through an advance of 80% to 90% of the total amount owed. We reviewed more than two dozen invoice factoring companies to select the six best invoice factoring providers. Each company selected earns stellar reviews from small business owners. We ranked the top…
3 Best Factoring Companies for Trucking
When looking for a freight factoring company for your business, you need to know the volume of the invoices that you plan on factoring and what your goal is. If your goal is to outsource your accounts receivable process, you’ll want a different type of factoring company than someone looking to get quick financing. Top…