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5 Things Every Small Business Owner Should Know Prior to Securing a Loan

5 Things to Know Before Getting Business Financing

Small businesses are often referred to as the engine of our economy, driving as much as 64% of new private-sector jobs in the United States. When small-business owners face the dilemma of obtaining financial backing to sustain operations, expand the business, or purchase inventory, they frequently turn to small-business loans. Nearly three-fourths of all small […]

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Credit Score Isn’t The Only Factor to Focus on When Applying for a Business Loan

Credit Score Factor in SMB Lending

In order to obtain a business loan, many (if not most) loan providers will take a hard look at your credit score. That makes sense since your personal credit score and your business credit score are fairly strong indicators to lenders as to whether or not you’re a reliable borrower. Your credit score(s) will serve […]

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The 4 Worst Reasons to Take Out a Business Loan

worst reasons to take out a business loans

By Ben Goldstein Before you take out a loan for your business, you have to ask yourself one question: Will this money help my business grow? If the answer is yes, you’re golden. But if you’re only looking to sustain a sinking operation or slap a band-aid onto a larger financial problem, then getting yourself […]

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Three Ways to Fund Your Small Business Without Collateral

Business Financing Without Collateral

By Berrak Sarikaya, Lendio Lending money can be a risky business, which is why most traditional lenders require borrowers to put up collateral for a loan. Collateral is simply a valuable asset, such as your house, car, or even a savings account in your name. In the event you’re unable to pay back your loan, […]

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Is A Short-Term Loan The Best Fit For Your Business?

When unexpected life events happen, sometimes you’re prepared and sometimes you’re not. As a small business owner, not only are you handling the curveballs that life throws your way, but also the unexpected challenges of business ownership. What happens when you’re not financially prepared for these situations? If you’re a small business owner, cash flow […]

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Rejected For A Loan? Do These 9 Things Right Now

Upset business owner recovering from a rejected loan application/

Having your loan application rejected is a wake-up call that your credit or business health isn’t as strong as you thought (or hoped) it was. It can be a very demoralizing experience—especially if you were counting on that financing to sustain your business operations. When a loan application is denied, it can usually be traced […]

Small Business Loan Terminology — Speak the Language, Save Money

Business Loan Terminology

When you’re applying for financing, all the business loan terminology can be overwhelming. Here are a few lending terms that you’ll encounter along the way.

Applying for a Business Loan? Avoid These 5 Mistakes

Just a few small mistakes on your loan application can kill your chances of being approved. Here's how to raise your odds when applying for a business loan.

Can Student Loan Debt Affect Your Small Business Financing?

can student loan debt affect business financing

Unpredictable revenue coupled with a monthly student loan burden does not make for an attractive borrower profile. Here’s how to put your best foot forward.

5 Common Uses of Emergency Small Business Loans

No matter how financially stable your business is, there’s always the risk of an unexpected emergency that costs you more money than you have on hand.