(800) 949-0401 
If you are trying to decide what loan to take out for your business, you might be overwhelmed with the information you find when doing your research. There are several different kinds of working capital available, although many assume there’s only one type of business loan. First, we will start by defining what working capital is.
A commercial real estate loan is a loan for property used for commercial purposes and is one of the most lucrative investments someone can make. The building, an office space, an apartment building or a warehouse can be used as the collateral for the mortgage. So how does it work? What do lenders consider when you apply for the loan? We are answering those questions in this article, so you have all the information you need to decide what’s right for your business.
There are two popular funding programs by the Small Business Administration (SBA) and they are SBA 504 loans and SBA 7(a) loans. If you are starting or growing your business, you will most likely come across these two types of loans. Each loan has a specific set of requirements and terms based on the type of loan and the amount of the loan. Although they do have some similarities, they are not the same. When applying for an SBA loan, it’s important to note that they are not directly offered by the SBA. The SBA works with banks, business lenders and credit unions.
No matter the type of business you own, small or large, you need some type of equipment. Equipment may play a big role in creating products your customers want to purchase or it just may help your business serve your customers. Whether you are making your first equipment purchase or upgrading, it can be pricey, so financing is your best option to purchase what you need.
Accounts receivable financing, commonly known as factoring or invoice financing, entails the selling of receivable or outstanding invoices at a markdown to obtain cash for company operations. Having cash flow coming into your business is critical to keep operations running but if you have customers with unpaid invoices or slow-paying invoices, accounts receivable financing will get you the cash flow you need quickly and efficiently.
About 40% of new entrepreneurs in the United States are now women. Women owned businesses have been growing at double the rate than those of male owned businesses. Compared to men, women are less likely to be approved or receive the full amount of the loan according to a report by the Federal Reserve. In order to improve the chances of being approved, doing your research is extremely important. Knowing which small business loans are available for women will increase the chances of being approved. There are also grants and other resources available to help women owned businesses. In this guide we will discuss the best small business loan providers for women.
Throughout the last several years, there has been a huge increase of minority owned small businesses in the United States. This has grown by over 50% in the last decade and these businesses generate almost $2 trillion in revenue and employ 6.3 million workers. However, minority owned business struggle to access capital because they are less likely to receive loans. Those that are successful in receiving loans, have lower dollar amounts and high interest rates. Securing capital for any small business is crucial for the growth and expansion of the business.
If it’s your first time considering getting a small business loan, you may be overwhelmed with the process and not know where to begin or how to choose the best loan to fit your business needs. However, by knowing what to expect it can be less daunting because you will know and have everything you need.
At some point, many businesses find themselves in a situation where they need to seek funding. Maybe they need to get some new equipment, or perhaps they’re experiencing a lapse in cash flow. In any case, they might not always have the capital to cover these costs. Fortunately, there are many options to choose from when shopping for small business loans, but there are even more variables to consider.
