How do you get hands on a small business loan without hassling from lender to lender? Your ability to pay back is key! Banks are more interested in your capacity to settle a loan than anything else. Here’s what they go through: Bank statements Business assets Debt utilization Practicality of your business plan Financial statements Business and Personal Credit Scores Your loan requests are not bearing fruits because the lender is not able to easily determine your creditworthiness. Make sure all the information you provide is accurate. Double-check from the most seemingly basic info like your name, phone number, tax […]

In February, 2019, KrebsOnSecurity contacted Buca di Beppo, an Italian restaurant chain, after revealing that the company’s customers’ 2 million card numbers could be found on the black market. Do you need additional business funding such as a restaurant loan to make your business better protected? This article is here to help you with all this. Breach at Restaurant Operator Earl Enterprises    Buca’s parent company also had a 10-month breach of payments at a number of restaurants. Several of its brand locations, such as Earl of Sandwich, Planet Hollywood, Chicken Guy, Mixology, as well as Tequila Taqueria were among […]

Community bank and credit union groups have recently been focused on using their lobbying power in Washington to limit the advancement and aspirations of innovative fintech companies. How are you planning the growth of your business? Do you need a reliable and low cost small business loan? Just read this blog post and you’ll learn more about the topic. Also, you’ll discover an exceptional business funding provider. Smaller Institutions & FinTechs This is an era of the physical giving way to the digital. Data is becoming the next gold and oil. Increasingly, consumers both more and less loyal ones, are […]

If you are a startup or smaller business that is just making a name for itself and needs extra cash, finding a lender can be challenging. Traditional lenders, such as banks, require good credit scores and collateral to get approved for small business loans and many other types of financing. Whether you need to buy additional inventory to get through the holiday season or you are low on cash because you are in the slow time of your seasonal business, how do you get the funding you need if have bad credit and no assets to put up for collateral? […]

64% of small business owners start with $10.000 or less. They’re primarily self-funded. If you, as a small business owner, need access to working capital, be aware it may be challenging to get approved for a small-business loan. So, you need to prepare well so that to increase your chances of getting a loan. What do you need to focus on? Reason You Need Funding Lenders would like to know the reason you’re applying for a small business loan. Determine whether you need it to start your business, manage day-to-day expenses, grow your business, or maybe to have a safety […]

Natural disasters such as floods, hurricanes, tornadoes, volcanic eruptions, earthquakes, tsunamis, and other geologic processes can cause loss of life or property damage. You can read several helpful tips in this article that will help you recover and get out of the situation. Damage Caused by Natural Disasters Globally, 8.700 people were killed by natural disasters in 2016. This is down from 25.400 in 2015. Global natural disasters resulted in $175 billion in damage in 2016. The global cost was the highest in 4 years. Only 30% of the losses ($50 billion) were insured, according to the German reinsurance firm […]

The holiday season accounts for 20% of the retail industry’s annual sales. It’s often responsible for up to 30% of some individual retailer’s sale. Based on 2016 ecommerce statistics, gift cards are the most desired holiday gifts. The biggest days of sales for retailers and ecommerce businesses are on the 22nd and 23rd of December. According to the National Retail Federation (NRF), holiday sales are projected to increase 3.6% – 4% for a total of $678.75 billion to $682 billion in 2017. This is up from $655.8 billion in 2016. Since holidays are such an important time of year that […]

My commiserations to all merchants who commit themselves to establishing great companies only to have them destroyed by natural disasters like the most recent Harvey and Irma Hurricanes.  While one may argue that business owners should prepare earlier for such phenomena, most startups lack the capital to invest on disaster recovery and continuity strategies. To provide such victims with a stepping stone to revival, here’s a useful list of benefits available together with links to get your on the provider’s websites and make the most out of them as fast as possible. Low Interest Loans:  SBA and USDA both provide […]

There are plenty of good things about a cash advance… and a few bad ones. Below are the key things you need to know before obtaining a cash advance. Fixed Fee (also called the Buy Rate or Factor Rate): This number is how much you’ll eventually have to pay back. Generally it’s written with a decimal point (ex: 1.30), but you might also see it as a percentage (30%). The math is pretty simple: you get the number you’ll have to pay back by multiplying the cost of your advance with the fixed fee. For example, on a $1,000 loan, […]

Receiving a rejection letter for a business loan you were counting on can be discouraging. Data from the Small Business Administration (SBA) reveals that nearly 50% of small business loan applications are rejected for a variety of reasons. Understanding the most common reasons banks decline loan applications can be useful for your own business endeavors. 1. You applied for the wrong loan product Some banks may specialize in a certain type of lending or industry. For example, a lender may choose to fund large corporations that reach a certain revenue threshold or carry a specific number of assets. Other banks […]