Browsing Tag

business loan

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5 Types of Investors for Startups

“The most meaningful way to succeed is to help others succeed.” -Adam Grant, organizational psychologist Investors are unique players in the growth process of a business. The level and quality of their involvement can ultimately help determine a company’s success or failure. It is imperative for budding entrepreneurs to take the time to learn about...
Small business grants
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Top Small Business Grants for Women and Minorities

For an updated list of grant programs for women and minorities available in 2021, please click here. Funding a small business can be quite the undertaking, whether you’re starting a new venture for the first time or have decades of experience in your industry. Of course, securing capital is often necessary, but depending on what...
unsecured business loans
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What You Need to Know About Unsecured Business Loans

As a small business owner, you may need financing at some point. You might need help purchasing an asset, expanding your business and more. No matter the reason, an unsecured business loan can help. Whether you’re struggling due to the COVID-19 pandemic or are looking for help with business needs to expand, there are unsecured business...
collateral loans
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What You Need to Know About Collateral Loans

The ebb and flow of modern business is difficult to predict. Small businesses, in particular, can struggle to react to fast-changing market conditions. There may be times when short-term cash injections are needed to cover temporary cash flow problems or capitalize on opportunities for expansion. And at times like these, collateral loans are very useful...
business loan application
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Why Was My Business Loan Application Denied?

This is a pretty simple question with a more complicated answer. There are a lot of reasons why a business loan application might be denied, but what most small business owners should be asking themselves is, “What can I do to improve the odds of a successful loan application?” Lenders are basically trying to answer...
business loan
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6 Steps to Take After Getting a Business Loan

Once you decide to finally launch the startup you’ve always dreamed of, you may need to take out a small business loan. However, this process doesn’t simply consist of obtaining a loan and repaying it over a stated period of time. StartupNation exclusive discounts and savings on Dell products and accessories: Learn more here After...
business loans
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Are Business Loans More Affordable Now Due to the Pandemic?

The COVID-19 pandemic has devastated the global economy in a number of ways. Unemployment is up, the stock market is down, and small businesses are struggling to make ends meet. While Congress approved some financial help for small businesses with the Paycheck Protection Program (PPP), that aid has since expired and efforts to extend or...
wjr business beat
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WJR Business Beat with Jeff Sloan: SBA EIDL Lending Program (Episode 83)

Today on the WJR Business Beat, Jeff reports on the EIDL program. The U.S. Small Business Administration announced the conclusion of the first component of the program, which provided U.S. small businesses, nonprofits and agricultural businesses immediate grant funding, totaling $20 billion. The distribution of the $20 billion went to nearly 6 million small businesses, employing...
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What Lenders Want to Know About Your Business Right Now

Whether you’re talking to an SBA lender or any other lender, they all are trying to get the answer to basically three questions. They might not all ask the questions in the same way, but they are all trying to find out the same thing: Can you repay a loan? Will you repay a loan?...
cares act
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What Small Businesses Impacted by COVID-19 Need to Know About the CARES Act

Small businesses have long been referred to as the backbone of the economy. As the COVID-19 pandemic continues, small businesses struggle on a day-by-day basis to weather the storm. At least three-quarters of U.S. small businesses are counting on the financial assistance of The Coronavirus Aid, Relief, and Economic Security (CARES) Act. The full text...
SBA disaster loans
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Frequently Asked Questions About Applying for SBA Disaster Loans (EIDL) Due to Coronavirus

This article has been updated April 23, 2020 to include additional funding approved by Congress. Small business owners impacted by the coronavirus crisis may want to consider an SBA Economic Injury Disaster Loan. These loans are attractive for several reasons, including: Low fixed interest rates: 3.75 percent or 2.75 percent for non-profits Long-term repayment of...
COVID-19 business loan
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Applying for a Business Loan is Changing Due to COVID-19: Here’s What it Means

As the coronavirus ravages businesses, small business lenders are re-evaluating their underwriting policies, along with reviewing their risk tolerances for those industries that look like they may be hit hardest by the disruption. Here’s what every business owner needs to know right now — even if your business hasn’t felt the pain of COVID-19 yet....
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Starting a Business? 5 Ways to Stay on Budget

Whether you are pursuing a lifelong passion, have a unique product idea with income potential, or want out of the corporate rat race, there are many reasons why you may be looking to start a business in the new year. Self-employment does have some downsides, and starting a business isn’t always a cheap affair. You...
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4 Ways to Get Financing Quickly Ahead of Small Business Saturday

If you’re a small business owner and are looking to drive traffic this holiday season, make sure you take advantage of Small Business Saturday. An annual event, this holiday has become a phenomenon: according to BusinessWire, an estimated 104 million U.S. consumers reported shopping or dining at local, independently owned businesses — and spent $17.8...
minority business
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How to Find and Apply for Minority Business Loans

Many minorities are starting businesses, have been running one for a while, or are well-established in their industry. Despite their qualifications and eagerness to be part of a growing economy, however, there are some obstacles unique to them. The U.S. Census reveals that minorities, specifically Hispanics, Asians and African Americans, have a household net worth...
small business loan
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5 Questions to Ask Before Applying for a Small Business Loan

Remember the old advice that heeds to “look before you leap”? When it comes to small business loans, you can translate that to “ask before you apply,” and it’s a crucial step for any entrepreneur considering financing. You’ve probably already thought of common questions like, “What will my interest rate be?” and, “How long is the...
bad credit
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Can You Get a Business Loan with Bad Credit?

Let’s say you’ve identified an opportunity for your business. It might be a bulk deal on inventory, a necessary equipment upgrade, or a great space for a second location. There’s just one problem: You don’t have the cash available to take advantage, and you have bad credit. But is all hope lost? The short answer...
alternative finance
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A Startup’s Guide to Alternative Finance

As an entrepreneur, your next venture may be fully developed, and your business model mapped out, both technically and operationally. But in order to kickstart your business by legally establishing the operating structure and opening your doors to customers, you need fuel. That means raising money, and a fair share of it. In an era...
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4 Tips for Funding a Business When You Have Student Loans

Few words strike as much fear in the hearts of college grads as student loans. These debts seem to linger for years; for some, repayment can take anywhere from 10 to 20 years. And for some, the specter of student loans may even determine which careers they pursue. Although the heart may yearn for a...
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5 Ways to Fund a New Business

Asking for money for any reason is never easy, especially as a new business owner. According to CB Insights, 29 percent of startups fail because they flat-out run out of cash. The best way to fund your business and avoid being a part of this statistic is by creating a business plan. The key to...