A survey from business funding matchmaker Fundera found that business owners across the US didn’t get enough funding from their PPP loans. What’s more, the program is closing soon; is there hope of a PPP renewal? Read on.
Business Loans Blog Posts | Page 6
Looking for working capital or don’t have any specific plans for the funds you receive? Keep looking at other financing options. Venture debt should be taken on for a specific purpose, such as making a large purchase (like equipment), funding a project, hitting a specific milestone, or growing the business without further diluting shares.
If you need a way to cover gaps in cash flow while waiting for your loan disbursement, which can take weeks to receive, there’s an option called a commercial bridge loan. Bridge loans are handy for several types of situations but remember that the terms are short and interest rates are high, so make sure this is really the option for you.
Two of the names that often come up in the crowdfunding conversation are Indiegogo and GoFundMe. In this article, we’re going to examine these two crowdfunding platforms and compare their suitability for business fundraising.
Small businesses that have become saddled with Paycheck Protection Program (PPP) loan debt may be able to receive automatic forgiveness soon. That’s the heart of the Paycheck Protection Small Business Forgiveness Act, a bipartisan bill introduced last month by Sens. Kevin Cramer, R-N.D., Bob Menendez, D-N.J., Thom Tillis R-N.C., and Kyrsten Sinema, D-Ariz. This piece of legislation provides automatic loan forgiveness for PPP loans under $150,000. Qualifying businesses would only need to fill out a one-page form to become eligible for forgiveness.
Debt crowdfunding has become increasingly prevalent in a world where bank loans are harder than ever to come by. It’s important to understand what debt crowdfunding is, how it differs from other forms of crowdfunding, and how you can use it to raise funds for your business.
How A Minority Depository Institution Could Help Your Small Business Get Loans, Financing, & Other Services
When you think about small business lending, what comes to mind? If you’re like most people, you probably think of the typical — banks, credit unions, online lenders. Unfortunately though, many business owners are unable to obtain the funding they need through these traditional lending institutions. Banks and credit unions, for example, may require high […]
Your best options for semi truck financing will be lenders and lessors who can cover the costs of the vehicle with good rates and favorable repayment terms. Options like: Wells Fargo, eLease, Crest Capital, SmartBiz, and BlueVine.
Unfortunately, new businesses find it challenging to find funding. You can’t just walk into your local bank, produce a few financial statements, and get a business loan. A lack of revenue and business credit history works against you, as traditional lenders see you as a big risk. However, this doesn’t mean you have to put your dreams on hold. It simply means that you need to get a little creative with your funding. Not sure where to start? You’re in the right place.
Fintech — a term that stems from “financial technology” — has played a key role in the years after the 2008 recession by offering small businesses alternative lending platforms to the traditional banking system. During the current time of crisis, many fintechs pivoted quickly to shovel out billions in PPP funds. Like almost everything else associated with the PPP, fintechs have been far from perfect over the past few months. However, these forward-facing firms have still helped fill a gap left by the bigger banks.