Tag: interest rate

Adding new, updated equipment is often the best way to keeping your small business at the forefront of competition while simultaneously increasing your profits. New equipment can be very expensive though, requiring your company to seek business loan funding. While securing small business financing can be tricky, doing a little research can help you put together the right loan package for your firm. The first step is to determine your loan needs. How much money do you need to borrow? How quickly […]

When your business is ready to purchase a property or building, one great option for financing is to use a Small Business Administration 504 loan for your commercial mortgage. This government-backed and funded program provides great loan terms and safe financing. Here’s what you need to know: The 504 Loan program was created in 2012 to provide funding to expanding small businesses. It can be used to finance several types of business growth, including commercial mortgages for the purchase […]

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 Administration (SBA) loans – or 7(a) loans, are often a coveted prize for U.S. companies. They offer some of the lowest rates anywhere on small business financing and generally provide the longest repayment terms as well. The loans are guaranteed by the U.S. government so businesses can feel confident in the security of their funding. These loans sound ideal and yet many business owners won’t even consider applying for them. Why? The application process for SBA loans is notoriously […]

It is a common situation: a business cannot qualify for a traditional small business loan so the owner takes out multiple personal loans or merchant cash advance loans with high interest rates. Pretty soon those “stacked” loans with expensive fees become oppressive and can threaten the health of the company. One possible way out is to reconsolidate all that debt. Reconsolidating debt means paying off all your smaller loans with a larger loan that has a lower interest rate. While small businesses […]

Having access to cash as a small business is crucial for growth and flexibility. Business lines of credit have always been an ideal source of financing…for those who could qualify. A traditional line of credit from a bank offers some of the lowest rates and largest credit maximums, but they also require good credit scores and proven track records of substantial annual revenue. Fortunately, for all those businesses that don’t fit that profile, many alternative lenders offer business lines of credit […]

When it comes to growing or sustaining your business, outside help is often needed to provide the required cash. Traditional lenders offer two helpful products for business owners: business loans and business lines of credit. Each has its own distinct merits for developing companies. Here’s what you need to know about them before making a decision: Loan Payout With business loans, a borrower receives one lump sum of money at the outset of the loan and will never receive more for the duration […]

Having poor credit can make securing business financing very difficult, although not impossible. For those facing this challenge, one potential option is the merchant cash advance (MCA).

Once you secure your funding, it’s time to decide what loan terms are best for your company. There are at least four different types of commercial loans to consider.