A small business loan can be beneficial to growing your business or continuing operations. However, taking on debt without knowing the facts can be dangerous, with irresponsible borrowing leading to unpaid debt, collections, or even bankruptcy. That’s why it is important to understand small busine...
This is the first thing that comes to everyone’s mind when talking about types of loans and is by far, the cheapest financing option out there. So if there is a chance to get a bank loan, go for it. To qualify for a business bank loan you will need either an impressive credit sco...
An SBA Loan is not a direct loan from the SBA itself. It’s a loan that has been made by a commercial lending partner (like a bank or credit union), but that the SBA has guaranteed for these partners and that has been structured according to SBA requirements. This helps to minimize t...
How to Get a Business Loan: Business Financing Guide 2024 by Gerri Detweiler May 2, 2024 26 min read No matter what stage of growth your small business is in, there’s likely going to come a time when you’ll need access to more funds. Many businesses, both large and small, use...
Ultimately, only you can decide if you need a business plan to support a small-business loan application. If you do, you can download the handy template below to start putting together your business plan.3. Consider repayment termsYour next step is deciding how you’ll repay your loan. Be...
Starting Business Partnerships Creating a Powerful Pitch Deck Get your free startup kit You’ll also want to consider what niche is right for your business. Don’t make the expensive mistake of trying to build your own business geared toward too broad an audience. Make sure you build your bu...
The article discusses issues concerning securing a loan from the Small Business Administration (SBA) in the U.S. The SBA does not itself lend money to small business, rather, businesses must apply for an SBA-backed loan through...
Getting a loan for a business requires finding the right lender for your needs. Two lending options to be aware of include: Government loan programs backed in part by theU.S. Small Business Administration (SBA). Conventional loans from an independent lender, such as afinancial institution. ...
Information required to apply for an SBA Disaster Loan While filling out the application page, here is the information you’ll be required to give. I. Business information --Business name/trade name --Organization type (also known as yourbusiness structure(opens in new tab)) ...
If your business runs into a cash flow snag, you might find yourself asking: how do I get a small business loan? However, with so many different types of small business loans available today, it can be difficult to sift through the noise and figure out: Which small business loans are th...