Business
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…
Manhattan-based nurse Vivian Ezugwu has lived in New York City her whole life, and is well-aware that living in the Big Apple doesn’t come cheaply – which is one of the reasons she’s taking on extra shifts as a school nurse in addition to her regular night shifts at the…
Key takeaways Calculating how much debt your business can afford and how much it needs will direct you to the appropriate loan type and lender for your business. Assessing your eligibility based on universal standards like credit score, annual revenue and time in business can also help direct your search…
Key takeaways Unsecured business loans are types of business loans that do not require collateral Lenders are more selective with which businesses they offer unsecured loans to and may require a personal guarantee or Uniform Commercial Code (UCC) lien Unsecured business loans can come in the form of term loans,…
Photography by Getty Images; Illustration by Bankrate Key takeaways Factor rates are a decimal that you use to multiply the entire loan by to get the total loan cost. Factor rates do not incorporate loan fees into its rate, as APRs do, making it difficult to evaluate the total cost…
Key takeaways Average business loan interest rates range from 7 percent to 99 percent depending on the type of loan and the lender SBA loans offer low-interest loans to many types of business owners, including startups and bad credit borrowers Factors that can affect interest rate include the Federal Reserve’s…
Key takeaways A Rollover as Business Startup, or ROBs, allows you to roll retirement savings into funding a business tax-free ROBS will put your retirement savings at risk ROBS is a complex transaction and the IRS watches it closely If you’re planning to start a business, you may have heard…
