Business

Key takeaways Popular SBA 7(a) lenders include Newtek Small Business Finance, Live Oak Bank, The Huntington National Bank and Readycap Lending. SBA 504 lenders have provided over $6 billion in funding to small businesses. SBA 7(a) and 504 lenders approved more than 76,000 small business loans combined. The Small Business…

Key takeaways Business lines of credit can help you build business credit while you improve cash flow. Lines of credit may have shorter repayment periods than a loan. Borrowers should be aware of the associated fees, which can add up quickly. Cash flow ups and downs can hinder your company’s…

Key takeaways Alternatives to equipment loans include term loans, equipment lines of credit, SBA loans and equipment leasing Certain alternatives may provide higher amounts, better rates and extended terms compared to an equipment loan Be sure to consider your equipment needs, how fast you need the funding and how much…

GettyImages; Illustration by Hunter Newton/Bankrate Key takeaways Secured business loans require collateral to back the loan Unsecured business loans typically require a personal guarantee, while secured loans may have lower interest rates and higher borrowing limits Secured loans may be better for those with lower credit scores or seeking more…

Key takeaways Collateral can make loans less risky for the lender since the assets can be seized if borrowers don’t repay their loans. Collateralized loans are generally easier to get and come with more favorable terms than unsecured loans. Some lenders may require a personal guarantee in addition to business…

Image by GettyImages; Illustration by Bankrate Key takeaways Revenue is a key indicator of your business’s financial health and can be a predictor of your business’s success. Revenue growth can be influenced by a number of different internal and external factors. You can drive revenue growth through strategies such as…

alvaro gonzalez/GettyImages; Illustration by Hunter Newton/Bankrate Key takeaways Online lenders usually offer the fastest funding for small businesses The best fast lenders should have an easy-to-understand application and funding process Fast loans may come with higher interest rates, more aggressive payment periods or higher credit standards When you need cash…

Key takeaways The majority of new businesses need financing to cover operating expenses or expansion. Getting a loan for a new company can be difficult as lenders consider new businesses higher risk. Because of this, many lenders will examine your personal credit and require a personal guarantee. As the saying…

photographer/Getty Images: Illustration by Issiah Davis/Bankrate Key takeaways Short-term business loan alternatives include long-term loans, lines of credit and SBA loans Grants, business credit cards, peer-to-peer lending and crowdfunding are also viable alternatives to short-term loans To choose the right lending option for your business, consider term lengths, interest rates,…

Key takeaways Banks are known for offering low-interest business loans to business owners with good credit and at least two years in business Banks offer many types of bank business loans, ranging from term loans to SBA loans to equipment loans Alternatives to bank business loans include business credit cards…