Browsing Tag

small business loan

44 posts
Black Women-Owned businesses
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Grant Program Announced for Black Women-Owned Businesses in Detroit (and How to Maximize Your Chances of Securing Relief)

Small businesses make up an astounding 99.6% of Michigan businesses and 49% of the state’s employees—that’s 1.9 million people. Since the onset of the pandemic, these businesses have been forced to endure a tumultuous journey that has meant drastic budget cuts, layoffs and a complete strategy pivot. However, businesses haven’t had to face this crisis...
Trade References
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How Trade References Can Help Your Startup Get Financing

New businesses often find it challenging to get financing. Many lenders prefer to lend to businesses that are at least a year or two old and that have strong financial profiles. But if you wait until your business is a couple of years old, you may find yourself missing a key piece of your credit...
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...
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...
budget
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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...
small business financing
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Everything You Need to Know About Small Business Financing

While obtaining funding as an entrepreneur is not always easy, there are methods to make it easier. These financing solutions support startups and entrepreneurs, and the companies that provide these solutions understand the challenges that small businesses face when it comes to traditional funding methods.  To meet the needs of small business owners and entrepreneurs,...
Rapid Finance
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Get Cash Fast: The Truth About Small Business Financing

The process of getting a traditional bank loan for your small business is frustrating. It’s nearly impossible to get a banker’s attention if you have questions. You are expected to fill out a long, complex application on your own, submit all of the supporting documentation that is required, and then wait. And wait. And wait....
invoice factoring
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How to Eliminate Your Startup’s Cash Crunch with Invoice Factoring

Entrepreneurs are the unspoken heroes of the American economy. These risk takers set out to change the landscape of an industry by doing what they love. Oftentimes they take out personal loans, tap into their retirement, or request second mortgages on their homes to start the endeavor they are so passionate about. This passion to...
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...
franchise
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6 Ways to Finance Your Franchise

If you’ve decided to join the millions of business owners who own a franchise, you’re going to need money--and sometimes a lot of it. Franchise startup costs can run from thousands to more than a million dollars for some of the most popular restaurant franchises. While many of the top franchises require a franchisee to...
start your business
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8 Reasons to Start Your Business in 2019

Are you dreaming of starting your own business but hesitant to get things moving? If so, you’re not alone. Many future entrepreneurs face the same concern, never quite sure if now is the right time. However, when it comes to small business, 2019 shows some signs of promise, and if you’re considering taking the plunge, this...
funding
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Business Funding 101: Turning Your Startup Dreams into Reality

Starting a business requires a lot of funding - and most likely, you’ll need some extra help with your startup costs. It’s important to get this step right, because it could make or break your entrepreneurial dreams. According to a recent survey, 13 percent of startups cited that it was difficult to get back on...
debt
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3 Ways to Start a Business When You’re Already Drowning in Debt

Ever since I was young, I've had an entrepreneurial spirit. When I was 15 years old, and all my friends were working at supermarkets and fast-food joints, I started a successful landscaping company. I kept it going until I graduated from high school and moved away for college. Then, during my freshman year in college,...
fund
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The 5 Best Ways to Fund Your Startup This Year

While it would be cool to pitch for investment on "Shark Tank," not everybody can, or needs to. So don’t worry if you don’t get the chance. The vast majority of startups get their initial capital through other means. If you plan to launch your business this year, know that more options exist than ever...
financing
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3 Ways to Increase Your Chances of Getting Business Financing

The three best ways to increase your chances of getting financing for your startup are to: Know what lenders look for when determining if and how much financing they will provide Be prepared and professional when requesting financing to give lenders confidence in you and your business Look for alternative financing sources beyond the bank...
gig economy
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Many Entrepreneurs Hope Gig Economy Leads to New Career

The rise of the gig economy has reshaped the way Americans approach their careers. Just a decade or two ago, “moonlighting” was frowned upon by many employers, but attitudes have changed. Today, it’s not uncommon for full-time employees to have a side gig as they pursue their entrepreneurial passion or dream. Many entrepreneurs use the...
loan collateral
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How to Get a Small Business Loan Without Collateral

If you require a small business loan but your company doesn’t have any assets (whether property, land, stock or share options), you may need to give a personal guarantee, which can put your personal assets (including your home) on the line. It’s not an attractive proposition, to say the least. That’s not to say that...
Business loan
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The 5 Criteria You Need to Choose a Business Loan

Starting a business requires at least some upfront funding. You can attempt to be frugal and startup on a tight budget, but most businesses will require at least a few thousand dollars to afford initial product stock, office supplies, technology and employee wages necessary to build the infrastructure of the business. A lack of capital If...
Small business loan
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The Small Business Loan Revolution is Here

The economy is back, and it’s ready to lend a hand If you’re like most small business owners, you’ve been on quite the roller coaster for the past several years. You pinched pennies, made sacrifices and deferred capital investment projects. Finally, your patience has paid off. With the economy back on a roll, entrepreneurs and...
growing
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My Startup Isn’t Growing, What Should I Do?

The recipe for small business growth is an imprecise one. Mix one advertising campaign and two new salespeople and let rise? Or is it one social media marketing campaign and three new customer service reps? It’s tough to decipher and is based on your startup’s unique structure. If you’re thinking, “My business isn’t growing, what...