Short term loans are ideal for those who have a temporary funding need for personal/business purposes. For more information about this type of business financing and an exceptional provider, keep on reading the lines below.  Short Term Loan Definition If you need to obtain this type of credit, be aware you’ll be required to pay it back by within a certain period of time (typically a year from getting the funds). This means you must pay back the debt quickly, from where we have the name “short term.” Other loan types with longer terms are known as medium or long […]

Reputation is king. Yet Merchant Cash Advances can be confusing for many small retailers and merchants. Public opinion is torn between their business-saving and bottom-line threatening capabilities. But come to think of it; this two-sided nature is a characteristic of all loan products. So the loan type isn’t always the problem; many other factors determine whether you benefit or plunge into bad debt. The cash advance product, however, has remained a sticking point for many reasons. It has a confusing reputation The cash advance model is still unclear for many merchants It uses factor rates instead of interests Can be […]

Are you applying for a loan? Do you need to know how you can improve your loan application so to have more chances of getting approved? No need to worry. Just follow the lines below and you’ll know. How to Improve Your Loan Application Loans can play a vital role in meeting the financial shortages that prevent you from reaching your financial goals. Below, you can read how you can boost your chances of getting approved for merchant funding: Check your credit report. You can get it for free by just visiting AnnualCreditReport.com. In case you find any inaccurate information […]

Small businesses almost everywhere in the world are struggling from COVID-19‘s economic impact. In the U.S., merchants have a number of financing options for their businesses. This refers to both government-backed and alternative options. If you’re interested in small business grants or some financial relief, keep on reading the lines below. Small Business Grants in Different States You must be well aware of the Paycheck Protection Program (PPP), Economic Injury Disaster Loan (EIDL), and the SBA Express Bridge Loans. Let’s look at some business funding opportunities in different states. Have you heard that the Grays Harbor County Commissioners have given […]

On June 22, the U.S. Department of Commerce, Minority Business Development Agency (MBDA) announced it was allocating $10 million under the CARES Act to the network of MBDA business centers and national minority chambers of commerce. To know more about the topic and how to get alternative financing for your minority business, follow the lines below. COVID-19 Funding for a Minority Business MBDA is the top federal agency helping the minority business community develop and expand. According to the agency, COVID-19 has brought a particular impact on minority communities and businesses, and they’re going through severe challenges. The agency is […]

Some time ago, the U.S. Treasury Department and the Small Business Administration (SBA) announced they’d start peering into the PPP loan cases. Now, they’ve already provided some data. If you’re interested in this and want to get reliable and cheap small business loans, you’re on the right page. Treasury & SBA on Small Business Loans The agencies announced they’d reveal the general amount businesses had received in the form of PPP payments. They started looking at the recipients’ addresses, demographic data, as well as at how many jobs those businesses were able to protect. They won’t provide names and would […]

There’s a growing risk associated with stimulus and PPP payments. This article is here to tell you more details concerning the situation and the PPP payments. Stimulus & PPP Payments       Under the CARES Act, more than 2 trillion dollars went into the American economy. Mostly, the money has been going directly to individuals: these are the very stimulus checks. The money has also been going to small businesses in the form of Paycheck Protection Program (PPP) loans. Consumers are spending their stimulus payments, and the PPP loan recipients are looking for forgiveness of their loans under the CARES Act. This […]

For some time now, there have been whispers that the half-trillion-dollar small business loan program intended to help small business owners during the COVID-19 pandemic was not being used solely for its intended purpose. For example, accusations have been swirling that big banks have been focusing on their existing, big customers – leaving other small businesses without help. Now, reports are saying that members of Congress have also taken their slice of the Paycheck Protection Program (PPP) funds, while countless business owners are still struggling. Specifically, four members of Congress have acknowledged close ties to companies that received PPP loans […]

Especially as a business owner, ‘debt’ can be a scary word. You have already taken on so much risk in starting a business, so taking on more can feel very overwhelming. However, there are many reasons why businesses borrowing money can turn out to be beneficial for their success. The following are just a few of the reasons why you might want to consider it in the future or whenever the need might arise: Boost cash flow The lifeblood of any business is cash. Without efficient cash flow management, a business can quickly find itself in a situation where it […]

After weeks of protests, many Americans have stepped back and are asking themselves some serious questions. Specifically, “What can I do differently”? If you are one of the many wondering how you can make a difference and create lasting change to reduce long-standing racial disparities, one easiest ways to get started is to support black-owned businesses. While this might seem like a small piece of a massive puzzle, it is something that can make a big impact, especially if it is something people continue to do long after the spotlight has lifted from the issue. Here are a few tips […]