All Financing Articles - Page 5

SBA Loans: Types, Rates & Requirements

By Tricia Tetreault on April 9, 2020 | Business Loans, Financing, Ultimate Guide | Comments (20)

The Small Business Administration (SBA) guarantees business loans issued by approved lenders. SBA loans, though difficult to qualify for, carry low interest rates up to 11% with terms up to 25 years. The six types of SBA loans are 7(a) loans, community development corporation (CDC)/504 loans, CAPLines, export loans, microloans, and disaster loans. Types of…

50+ Paycheck Protection Program Loan FAQs

By Dennis Shirshikov on April 8, 2020 | Financing, Listicle | Comments (0)

The Paycheck Protection Program (PPP) is a new loan from the Small Business Administration (SBA) intended to help businesses meet payroll costs. The loan can be forgiven and converted effectively into a grant for up to eight weeks of qualified expenses. We’ve collected questions from around the web and on Facebook and provided answers to…

SBA Form 1368: The Ultimate Guide

By Dennis Shirshikov on April 6, 2020 | Financing, How To | Comments (0)

SBA Form 1368 offers small business owners the opportunity to show the financial impact of an economic disaster on a business. It comprises three sections that require you to disclose monthly sales figures, an economic forecast, and additional information not captured in the forecast. The last part is an important opportunity to explain any details…

SBA Economic Injury Disaster Loans: What You Need to Know

By Tricia Tetreault on April 6, 2020 | Financing, What is | Comments (0)

The Small Business Administration (SBA) offers Economic Injury Disaster Loans (EIDLs) during times of economic crisis. The SBA makes these loans directly to small businesses that have been impacted by an economic disaster to save them from failure. These loans often are made in the wake of a physical disaster, like a hurricane, although the…

Best SBA Lenders: Top 100 SBA Lenders

By Tricia Tetreault on April 5, 2020 | Business Loans, Directory, Financing | Comments (8)

With more than 3,000 SBA lenders nationwide, choosing the best SBA lender can be difficult. Some of the best lenders approve average Small Business Administration (SBA) loan amounts ranging from $75,000 to $1.5 million, with interest rates averaging 6.5% to 9.4%. We’ve provided reviews for the top 10 SBA lenders and listed the top 100…

Paycheck Protection Program Loans: The Ultimate Guide

By Dennis Shirshikov on April 3, 2020 | Financing, Ultimate Guide | Comments (6)

Small business owners can borrow up to $10 million to pay for payroll, rent, mortgage interest, and utilities under the newly available SBA 7(a) Paycheck Protection Program (PPP) Loan. The loan is available from any Small Business Administration (SBA)-approved lender as well as through online loan brokers. Loan proceeds used for eligible expenses will be…

What the COVID-19 Stimulus Package Means for Small Businesses

By Tricia Tetreault on April 2, 2020 | Financing, Ultimate Guide | Comments (18)

The United States Congress has passed several measures in response to the COVID-19 pandemic designed to help small businesses, including tax rebates, tax-filing extensions, business loans, emergency relief, and modified tax treatment. Perhaps the most significant benefit, the paycheck protection loan—also known as the coronavirus loan—can convert into a grant for small business owners that…

Commercial Real Estate Loan Rates 2020

By Tricia Tetreault on April 1, 2020 | Business Loans, Financing, What is | Comments (4)

Commercial real estate loan rates remain at near all time lows, making now a great time for small business owners to purchase or refinance commercial property. A variety of different lenders make commercial real estate loans. This article covers how commercial real estate loan rates work and the interest rates that different types of lenders…

How Many Credit Cards Should I Have?

By Benilyn Formoso - Suralta on April 1, 2020 | Credit Cards, Financing, What is | Comments (0)

While there isn’t a set number of credit cards you should have, you’ll need at least one to build credit. Based on data from the credit bureau Experian, each American with a card owns an average of 3.1 credit cards. How you use each card is typically more important than how many accounts you have…

What Invoice Assignment Is & How it Works

By Dennis Shirshikov on March 31, 2020 | Financing, What is | Comments (0)

Invoice assignment is the process by which a small business transfers responsibility for an invoice to an invoice factoring provider in exchange for access to quick capital. The lender is then responsible for collecting, distributing, and settling the invoice for the small business and its customers. How an Invoice Assignment Agreement Works An invoice factoring…

How Invoice Factoring Works

By Dennis Shirshikov on March 30, 2020 | Business Loans, Financing, Ultimate Guide | Comments (26)

Businesses that invoice clients can assign unpaid invoices to a factoring company to get fast cash. For a fee, the factoring company advances a portion of the invoice value to the business. The factoring company then collects payment from the invoiced client and sends the business the remaining invoice balance. That’s how invoice factoring works….

5 Best Spot Factoring Companies

By Dennis Shirshikov on March 30, 2020 | Buyer's Guide, Financing | Comments (0)

Spot factoring companies offer borrowers the opportunity to factor individual invoices rather than factoring all of their invoices for a particular client or project. The added flexibility is very useful to small business owners with few invoices and those who need flexible factoring solutions. Best Spot Factoring Companies How We Evaluated We evaluated more than…