Business credit cards with no personal guarantee do exist—if you can qualify for one. These cards reduce or eliminate an owner’s personal liability to repay card debt, but they typically are issued to businesses with at least $1 million to $5 million in annual revenues and one to two years or more of cash reserves….
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How to Buy a Business in 7 Simple Steps
Buying a business can be a daunting process. Steps include determining your budget, finding the right business, negotiating the price, and obtaining financing. Along the way, you will need to know how to properly value a business, what documents you will need to exchange with the seller, and who your professional allies are. The seven…
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Buying a Duplex, Triplex, or Fourplex—The Ultimate Guide
Buying a duplex, triplex, or fourplex can be a good investment for both investors and residential homebuyers. Purchasing small multi-unit properties requires some basic understanding of how to locate, finance, and manage multiple units. Those activities are only slightly more involved than buying single-family properties but can lead to a profitable multi-unit investment. Proper financing…
How to Get a Loan to Buy a Business in 2019
Most people need a loan to buy a business. Borrowers should expect a down payment starting at 10%, interest between 5% and 10%, and terms between three and 25 years. Most loans have underwriting or closing costs, and borrowers should expect to pay on average 2% to 3% of the total loan amount at closing….
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How to Get Food Truck Loans in 8 Steps
Food truck loans allow businesses to borrow needed funds for the purchase of a new or used food truck. The loan is secured by the asset being financed. Because the vehicle is a specialty vehicle and has been built to serve, store, and potentially prepare food, the cost of the vehicle will typically be higher…
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How to Get Semi Truck Financing
Semi truck financing is a type of loan or lease where the vehicle acts as collateral to secure financing. About 80% of all goods in the U.S. are transported by semi truck, and roughly 350,000 trucks are driven by owner-operators. Semi truck loans allow those owner-operators and small businesses access to mission-critical lending. Smarter Finance…
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How to Apply for an SBA Loan in 6 Easy Steps
There are six steps for how to apply for an SBA loan, including determining your eligibility, selecting an SBA loan type, finding a provider, assembling paperwork, and completing the SBA loan application and forms. Getting an SBA loan can take up to three months with traditional lenders, or approximately 30 days with a broker. For…
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How to Find Houses to Flip in 5 Steps
To know how to find houses to flip, an investor will need to follow five crucial steps. These steps include choosing the right neighborhood, checking housing market statistics, verifying the condition of the fix-and-flip properties, forecasting the overall budget, and calculating the potential profit. Here is an overview of each of the five steps needed…
How to Buy an Apartment Complex in 7 Steps
Buying an apartment complex is more involved than investing in single-family properties and requires a deeper understanding of managing property finances. Typically, you can learn how to buy an apartment building in seven steps, including deciding if apartment complexes are right for you and what type of apartment to purchase. If you need financing when…
How to Make Money Flipping Houses in 7 Steps
Understanding how to make money flipping houses isn’t as easy as it seems. You need to know how much the renovated property is worth and what it will cost to flip it. Profitable house flipping is possible if you do your research and understand the numbers. You also need to consider the cost of financing….
How to Build Business Credit in 7 Steps
Business credit scores are calculations that represent your ability to repay debt obligations. Every small business owner should know how to build business credit and improve their business credit score. A good business credit score can be the ticket to a business loan or favorable terms when you purchase goods and services from suppliers. How…
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How to Raise Angel Funding: The Ultimate Guide
Angel funding means raising money from nonprofessional investors who invest their personal money in exchange for part ownership in your business. Generally speaking, angel funding is less formal and takes less effort than raising money from professional investors such as venture capitalists. Knowing how to raise angel funding increases your chances of securing financing. If…
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