Small business loans are a way to close cash flow gaps, pay for pricey equipment and grow the business. Here’s what to look for in one.
A secured credit line requires collateral, such as business equipment, accounts receivable, or a blanket lien on your business. The lender can take or sell the collateral to cover any unpaid debts. Business owners may also need to sign a personal guarantee, which means they promise to repay t...
If you ever decide to take the plunge and buy a home, your mortgage will likely be the largest debt you'll ever take on. And as part of owning a home, you may be faced with fees in terms of mortgage points. However, paying mortgage points can sometimes m
2. Identify a lender For many homeowners, the process begins by finding a lender. Your current mortgage lender may be able to offer you the best rates and simplest requirements because of your history as a customer, especially if you’ve made all your payments on time. You may also wish ...
1. Choose a mortgage lender To get the best rates and fees, it’s important to shop around before youselect a lenderfor your mortgage preapproval. Investigate different options to determine who has the lowest rates and fees, read lender reviews to get a better sense of past customers’ expe...
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Peer-to-peer lending For entrepreneurs who don’t want to borrow money from a traditional bank or lender, peer-to-peer lending is a great alternative. With dozens of safe, reputable websites that connect qualified applicants with excited investors, peer-to-peer lending enables business owners to...
You may be able to lower your interest rate, as well, but you'll probably still have to make larger monthly payments. When you apply for refinancing, your lender will assess your credit history, income and how much equity you have. For a basic rate and term refinance, lenders typically ...
(if applicable) and two years of tax returns. Some lenders may ask you to fill out Internal Revenue Service Form 4506-T, which is a request for a “Transcript of Tax Return.” In addition to tax returns, business bank account statements, business profit and loss statements, 1099s, or ...
Taxable income is the portion of your gross income used to calculate how much tax you owe in a given tax year.