When it comes to applying for a business loan, naturally you need to identify key factors like amount, term, and total cost of borrowing. However, there’s another piece of the puzzle that is just as critical: whether the business loan is unsecured or secured. What is a Secured Business Loan? A secured business loan isRead More
For many businesses, adding more working capital is more important than acquiring new customers — since it is often the former that creates the capacity and context for the latter to happen. Here are 4 common business loan mistakes you must avoid to maximize results and flexibility, while minimizing risks and costs: Business LoanRead More
These days, physicians do not just need to be health care experts: they must also be savvy practice managers — which is not as straightforward an undertaking as it may seem. Indeed, physicians learn early on in their careers that cash flow management is not as simple as providing services, collecting payments, and paying bills.Read More
Most business owners know that they can apply for financing through the Small Business Administration (SBA). Fewer business owners know that there are alternative financing options which may be available to them. Let’s take a look… SBA Loans vs. Unsecured Small Business Loans The SBA has an affiliation with the government and a long historyRead More
What are collateral business loans, and what assets you need to leverage to get one? Many borrowers aren’t sure if they need to provide collateral and, if so, what happens to their assets if they miss a loan payment. To help unravel this confusion, here is a high-level overview that we can call “Collateral BusinessRead More
Now, more than at any time in history, women of all ages have grabbed the reigns of business ownership, and are generating both direct and indirect employment and economic activity.Securing the right financing option such as a business loan for women is (or rather—can be) the easiest and quickest way for women-owned businesses to takeRead More
There are many conventional — as in tried and true— ways to use a restaurant loan for business growth, such as: opening new locations, adding new menu items, hiring new staff, buying new equipment (e.g. ovens, freezers, fryers, etc.), and renovating space.
Accounts receivable financing is a way for businesses to use pending customer payments as collateral for an advance of funds. While lender policies vary, generally businesses can expect to receive around 75-85 percent of the value of their receivables (more on this below).
Many firms in the automotive sector — such as repair shops, new and used car dealerships, rental agencies, retailers, rust proofers, body shops, detailers and parts manufacturers — rely on a line of credit to support day-to-operations. However, to cover larger expenses or investments, it’s often necessary to take a more strategic approach to cashRead More
Like many business owners, you need an equipment loan to increase your operational capacity and ultimately generate more profit. If you feel as if a bad credit score is standing between you and that critical goal, you don’t have to start selling assets or equity. First, check out these 3 critical facts about bad creditRead More