Different business loans come with different requirements. To be able to choose the right business funding for your business, you should be well equipped with the knowledge, including business loan terms, before entering the world of business financing.  Business Loan Terms & Funding to Know All merchants are looking for easy access to small business financing at the cheapest possible rates. No one likes long applications, complex repayment options, difficult-to-manage accounts, and a slow funding process. To avoid falling into a misleading situation where you can’t make the right choice, it’s important to learn business loan terminology. Annual Percentage Rate […]

Moving into the second half of 2020, so many business owners are in need of extra working capital. It has been a tough year, to say the least, and now we’re moving into the bustle of the holiday season. If you’re planning on launching a business soon, you are in even greater need of sources of financing. So, where’s the best place to find additional working capital? And how do you know which one is right for your business’ unique needs? Here are some of the top sources of small business financing, along with important questions you should ask to […]

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 […]

The lack of adequate small business funding is a source of great anxiety for small business owners.  Following the closures of most businesses, coupled with strict social distancing measures enforced during the COVID-19 outbreak, there does seem to be an “easing up” on regulations, allowing for businesses to slowly resume operations.  However, a recent survey conducted by LendingTree revealed a crippled confidence among business owners. According to the data, 46% of small business owners mentioned that funding was the number one hindrance that is keeping them from reopening. If they were to open, they would be subjected to strict safety […]

Small business funding is largely underutilized due to stringent rules and endless changes.  The U.S. Small Business Administration will be closing their doors of approval for all Paycheck Protection Program loan applications on Tuesday June 30th. What this means is that more than $100 billion in “federal loan guarantees” for nonprofits and small businesses grappling with COVID-19 will remain untouched.  According to the SBA, the Paycheck Protection Program, launched on April 3, has awarded close to $519 billion in loans from private lenders and banks to almost 4.8 million borrowers. Based on these figures, that leaves an excess of $134 […]

A crisis like the one caused by COVD-19 puts businesses of almost any size and type into a difficult financial situation. If you can’t get approved for a state-backed funding option or need another financial source, look for alternative resources. If you’re interested in nontraditional business funds during COVID-19 recovery, you’re at the right place. Alternative Business Funds During COVID-19 Recovery Federally-backed funding options under the CARES Act give you access to additional working capital. However, they aren’t the best option for all businesses, and many merchants have had difficulty obtaining them. Let’s see what nontraditional solutions are available for […]

Small business financing can be found through many different avenues.  One major factor that will ultimately determine your venture’s success is financing. If your fledgling business is in desperate need of capital, take a look at these traditional and not-so traditional financing avenues to offer your enterprise a much-needed financial boost.  Alternative Financing Solutions: Community Development Finance Institutions: They provide capital to both small business and microbusiness owners with reasonable terms. They don’t need much collateral like traditional banks.  Venture Capitalists: This group assumes partial ownership of the company in exchange for capital. Percentages of ownership are up for negotiation […]

It is not easy to run your business as usual when Coronavirus has created serious disruptions in the order of operations. For many business owners, the catch is to continue serving their customers and rake in profits as usual, in a relatively volatile economy. And of course, money is the major bone of contention—many merchants would appreciate the convenience of a lump sum of commercial funding but most lenders are not well-placed to offer it. Nevertheless, the Federal Government leveled the field for US small businesses on March 27 when President Trump approved the CARES Act. The approval of the […]

At some point during the business startup process, business funding crosses every entrepreneur’s mind. Needing extra capital isn’t a matter of if, but when. Some business owners seek support from friends and family at first, but as their business grows, they find themselves in need of larger sums of cash to fund opportunities and expand their operation. Unfortunately, securing funding is easier said than done. There is a long list of business types and industries that struggle to secure funding for one reason or another. In fact, according to recent small business lending statistics, nearly half of all small businesses […]