- Small Business Loans: How to Simplify [Video: Part 2 of 2] - July 5, 2016
- Small Business Loans: How to Simplify [Video: Part 1 of 2] - June 28, 2016
We’re back for the second part of our collaboration with StartupNation. My name is David Haber and I am the co-founder and CEO of Bond Street, a company that provides small business loans. So far, you’ve learned what to use a small business loan for, the difference between debt and equity financing and the basics of a term loan. You’ve also hopefully been able to get a firmer grasp on whether your business is ready to apply for a loan.
Now, it’s time to get down to the actual application process.
In this installment, I will cover:
- How to prepare for a small business loan
- How to apply for a small business loan online
- How to understand your loan offer
- Common questions
- How to build financial hygiene to set your business up for future success
- Examples of how to model out the investment opportunity for your small business
What is your FICO score, and how do you find it? Does it impact your loan offer? Do you have your deposit history available? What are the keywords to pay attention to when you receive your loan offer? What is the difference between the interest rate and APR?
All of these questions and more will be answered in the following videos. Even if your business is not ready quite yet for growth, this series will prove helpful for when the time is right. It will alert you to key considerations that could significantly impact your business — financially, and beyond.