While credit scores and income are important factors for a lender when approving business loans, another calculation can make the difference between loan approval and denial. The debt service coverage ratio (DSCR) measures your business’s ability to repay a business loan. The DSCR compares your annual business debt to your annual business income. While each…
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What To Know About Getting a Business Loan Cosigner
A business loan cosigner is a person willing to give a lender a personal guarantee that they’ll repay your loan in full if you fail to make the payments. This increases the chance that your loan will be approved, especially if you don’t have strong credit or enough collateral to obtain business financing. You should…
What Is Sales Enablement? Definition & How To Implement It
Sales enablement helps empower sales teams with the right tools, knowledge, and processes to engage with leads and customers effectively. This keeps their sales pipeline full, improves efficiency, closes more deals, and ultimately increases revenue. In this article, we define what is sales enablement, explore how to use the sales enablement process, and provide examples…
The Ultimate Guide to Sales Leadership
Sales leadership involves making relevant strategic decisions that fit the vision and mission of your organization as well as motivating and inspiring your sales teams. Excellent sales leaders are essential because they set the tone for a company’s culture and overall business success. In this article, we explore the qualities of a sales leader, how…
What Is Lead Qualification & How to Identify the Best Leads
Lead qualification helps you prioritize sales activities toward leads that are most likely to generate revenue. It’s done by establishing qualification criteria for scoring leads, then distributing top prospects accordingly. This creates a more efficient sales operation and increases lead-to-customer conversions. We will define what lead qualification is in more depth, explain how to qualify…
What Is Cross-selling? Definition & Tips to Make It More Effective
Cross-selling is a sales tactic used to obtain more value from a deal or sales transaction. While commonly used for retail businesses, it can be applied to many industries in both the B2C and B2B markets. In this article, we explore cross-selling more in-depth and provide examples, tips, and script templates you can use to…
Private Money Lenders & How To Find Them Fast
Private money lenders are used by short- and long-term real estate investors to finance properties. Short-term buyers use private money loans when they want to compete with the timeline of an all-cash buyer and intend to flip the property after making repairs. Private money lenders are also used by long-term investors who want to rehab…
Blanket Mortgage: How It Works & When To Get One
A blanket mortgage allows a borrower to purchase or hold multiple properties under the same financing agreement. Properties held in a blanket loan can be sold without invoking the due-on-sale clause in the mortgage, which requires the loan to be paid in full when a property is sold. This allows you to use the proceeds…