Business Loans Blog Posts | Page 4

ppp and credit scores

PPP Loans & Credit Scores: Is A Credit Check Required To Get A PPP Loan? What To Expect When You Apply

As far as formal requirements go, there is no credit score requirement you must meet in order to qualify for a PPP loan. This is despite the fact that the PPP program technically falls under the SBA’s 7(a) loan program, which does feature an acceptable credit requirement. However, this formal requirement has been suspended when it comes to Paycheck Protection Program loans.

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Jan 8, 2021 Filed under: Business Loans, Small Business

The 5 Best Short-Term Loans For Small Businesses

Short-term business loans can be just the thing to see your business through unforeseen challenges or to help you take advantage of time-sensitive opportunities. If you can pay back your loan in a timely manner, you’ll have overcome your temporary hurdle, dodged the debt trap, and positioned your business for future success.

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Dec 11, 2020 Filed under: Business Loans

What Are Prepayment Penalties & Do All Business Loans Have Them?

Lenders want borrowers to pay as much interest as possible, which is why some loans discourage and penalize early payment through the use of prepayment penalties. However, using the strategies outlined in this article, you may be able to make prepayments on your business loan while avoiding or minimizing any penalties, even if your loan does include a prepayment penalty.

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Dec 8, 2020 Filed under: Business Loans

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