Business
Key takeaways Inflation is having a big impact on small businesses, pushing up costs of labor, supplies, utilities and other costs. Small business owners should set aside time for regular reviews of the money exiting their bank accounts with a close eye on essential versus nonessential costs. From finding a…
Photography by Getty Images; Illustration by Bankrate Key takeaways Choosing the right business structure can significantly impact your tax liability. Small business owners can reduce taxes through deductions, credits and strategic expense timing. Proper documentation and compliance with tax laws prevent costly mistakes. Contributing to retirement plans and using healthcare…
Key takeaways Equipment loans are self-secured, which means they are secured by the equipment being purchased. Because the loan is automatically secured, equipment lenders may be more lenient on other qualification requirements, such as credit score or length of time in business. Equipment leases and sale-leasebacks can also be used…
Key takeaways Equipment loans can be used to purchase large assets for lower rates and easier approval than unsecured loans. Equipment loans are easy to qualify for and are offered through a variety of bank and online lenders. If you fail to pay your equipment loan on time, the lender…
Key takeaways Bad credit business loans are high-risk loans for borrowers with personal credit scores under 669 Bad credit business loans can have high interest rates to offset the risk of lending to a high-risk borrower Types of bad credit business loans include term loans, lines of credit, SBA loans,…
Photography by Getty Images; Illustration by Bankrate Key takeaways Commercial truck loan rates can range from 6 percent to 35 percent or higher. You might find favorable loan terms like no down payment from specialized commercial truck lenders. Consider SBA loans for semi-truck financing, especially the 504 loans, which are…
Key takeaways You can find equipment loans from traditional banks, online lenders and even equipment manufacturers in some cases Traditional banks offer low interest rates and high loan amounts, while online lenders can fund your loan quickly and approve businesses with subprime credit. If you can’t get approved for an…
andresr/Getty Images: Illustration by Issiah Davis/Bankrate Key takeaways Debt financing is any type of financing that allows a business to borrow money that needs to be repaid with interest. Types of debt financing include term loans, lines of credit, SBA loans, equipment financing and invoice factoring. Debt financing allows you…
Key takeaways Tariffs will make it harder for many small businesses to afford imports, especially Chinese imports. To help mitigate rising costs, keep your business finances separate from your personal finances, rethink your income streams and look for local community assistance. When Mallory Hank-Johnson recently ordered ribbon as a supply…
Key takeaways Business loan requirements are not the same for every lender. Annual revenue, credit score and years in business are a few factors that impact loan qualification. As part of a loan application, businesses will have to provide certain documents like tax returns and profit and loss statements. Applying…
