Tag: APR

Signing up for a business credit card can be very fiscally beneficial to your growing company. Before submitting that application, however, you  should become familiar with five of the most frequently asked questions about business credit cards. 1. Can a startup business qualify for a business credit card? Yes, startup companies are eligible for credit cards as soon as they are officially established. In order to qualify, credit card lenders will use the owner’s personal credit score and income. 2. […]

Building up a small business from scratch can be rough on your credit. There are plenty of times when money may not come in fast enough to cover bills and your personal or business credit can suffer. With bad credit, your sources of business funding can seem to dry up quickly and you may have to think outside of the small business loan box. One way many companies with poor credit meet their working capital needs is with invoice factoring. Invoice factoring means selling your unpaid invoices to […]

Small business loans from traditional banks and lenders are often considered the gold standard among business owners. They typically offer the lowest interest rates, the most generous loan terms and the highest dollar amounts. One of the long-standing drawbacks to traditional business bank loans, however, is that they often take weeks or months to secure. The application process can be tedious and resource draining, and even when a business owner has the good credit and assets to qualify, he may […]

So-called alternative lenders in the small business lending market have been growing exponentially since the financial crash, filling a gap in available credit when traditional lenders cut back on business loans. Yet these alternative lenders often make loans with annual percentage rates (APRs) as high as 135 percent. How could a loan with that much interest actually benefit a small business? Here’s a few reasons why an alternative loan might sometimes make sense: Limited Time Bank loans can […]