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4 Things to Look Out for When Looking for an Online Business Loan

21 Sep, 2017 / Comments:Comments Off on 4 Things to Look Out for When Looking for an Online Business Loan / By admin

The rise of the internet has made just about everything easier. This includes applying for business loans. Securing a business loan is essential for many business owners. Applying online means that you don’t have to take the time out of your busy schedule to go to a lender and apply in person. The problem with everything being online, however, is that anyone can make a website. While there are many legitimate online lenders, there are also many that are out there to take advantage of unsuspecting

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6 Alternatives to When Your Bank Says No to a Small Business Loan

08 Sep, 2017 / Comments:Comments Off on 6 Alternatives to When Your Bank Says No to a Small Business Loan / By admin

Banks have stringent requirements that must be met in order to qualify for a small business loan. Many people often think that the only place you can get a loan is from a bank. So, what do you do when the bank says no? The truth is that there are plenty of alternatives to traditional bank loans that can help you to secure the funding that you need to achieve your goals and help your business to grow.   1.  Microloans Many people forget that banks are businesses too. They often say no to small

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6 Things to Look Out for When Shopping for a Business Loan

06 Jul, 2017 / Comments:Comments Off on 6 Things to Look Out for When Shopping for a Business Loan / By admin

In order to make money you need to spend money. Not all business owners have the money needed to get started and it’s not always that easy to secure the necessary finances. New business owners and current business owners alike can be faced with the frightening task of finding the money needed to grow and succeed. Not all business loans are created equal. Here are 6 things you should be on the lookout for when you are shopping for a business loan.   Not Disclosing APR All loans have an interest

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When a Business Microloan Might be a Good Idea

16 Mar, 2017 / Comments:Comments Off on When a Business Microloan Might be a Good Idea / By admin

Microloans originally started as a form of financing used to help poor businesses that were struggling to get their start, typically in poorer countries, and was developed as an alternative to loan sharks.  Today, microloans are used all across the United States, as well as around the world, meeting the financial needs of small business owners, allowing them to start and grow their businesses.  Specific microlending programs vary from bank to bank, and many of them even offer classes on marketing,

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Should You Apply for an Industry Specific Loan?

02 Feb, 2017 / Comments:Comments Off on Should You Apply for an Industry Specific Loan? / By admin

Obtaining funds for your business sometimes requires a little creativity. Even after you get your business off the ground, there may still be a need for more money. Before you apply with any lender on the market, consider the benefits of an industry specific loan. These loans do not come from the general lenders on the market, but rather those who work specifically in your industry.   What is an Industry Specific Loan? An industry specific loan is one provided to you by a lender who primarily

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5 Situations When Your Small Business Can Benefit from a Revenue Share Loan

05 Jan, 2017 / Comments:Comments Off on 5 Situations When Your Small Business Can Benefit from a Revenue Share Loan / By admin

A revenue share loan is a loan structured differently than a traditional small business loan.  Rather than paying a fixed principal and interest amount each month, you pay back a percentage of your revenue until you have paid a predetermined amount.  These types of loans are very attractive to small businesses who have had difficulty obtaining a small business loan from a bank.  A great example would be, if you borrow $50,000 and your revenue share amount is 5% with a predetermined repayment multiple

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Everything You Need to Know About Working Capital Business Loans

24 Nov, 2016 / Comments:Comments Off on Everything You Need to Know About Working Capital Business Loans / By admin

One important indication that your business is successful is how much money you are making. Of course, in order to run your business, you need to use this money to pay your rent (if you don’t own your store outright), insurance, utilities, vendors, any materials you need, if you make your products, plus the wages of your employees. Even if your business is booming, a working capital business loan can help you to expand by giving you the capital you need.   What is Working Capital? Working

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4 Ways to Lessen the Damage from a Late Loan Payment

20 Oct, 2016 / Comments:Comments Off on 4 Ways to Lessen the Damage from a Late Loan Payment / By admin

Even the most successful business owner can find himself in financial trouble due to circumstances outside of his control. Expenses that come out of nowhere, customers that do not pay their bills, and uncontrollable external events can affect your income. When this happens, you might have trouble paying your bills on time. Here are four ways to lessen the damage that a late payment causes for your business.   1.  Talk to Your Lender The first thing you should always do is talk to the lender.

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5 Best Ways to Make Your Business Loan Work for You

22 Sep, 2016 / Comments:Comments Off on 5 Best Ways to Make Your Business Loan Work for You / By admin

You are excited to hear that you finally got approved for your business loan that you desired. Your mind races with all of the possibilities of what you can do with the money. Before you even take possession of the money, though, you should have a plan in place so that you can make the most of your new business loan. Here are five ways to make sure your loan benefits you the way you always envisioned rather than getting wasted.   1.  Forget the Money is There Many business owners make the mistake

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The Pros and Cons of No Collateral Business Loans

08 Sep, 2016 / Comments:Comments Off on The Pros and Cons of No Collateral Business Loans / By admin

No collateral business loans, as the name suggests, enables you to get money for your business without putting down any collateral. At first glance, this sounds like the perfect situation. Funding with no risk of losing your assets down the road? Sign you up, right? Before you go running for the nearest lender, you should understand both the pros and the cons of this method of financing.   Pro – Get Cash Fast No collateral business loans usually make it through the approval process much

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