Small Business Blog Posts | Page 18

Even if you have a steady income and a high personal credit score, additional requirements such as time in business or a business credit score make it a tough task to get a business loan. This can be a problem, particularly for startups. Using a personal loan for business allows you to bypass some of these restrictions to get financing for your business.

Variable APR isn’t good or bad. If the terms of a variable APR credit card or loan are agreeable for you and your business, great! If not, look for fixed APR options that are a better fit.

Need financing to start or expand your farm or agriculture business? Whatever the purpose, learn about the best places to get all the financing you need.

For beauty salons, short-term loans and business lines of credit can be funded very quickly — sometimes as soon as the next business day. Other loans, such as bank loans and SBA loans, may take several weeks or longer to be funded.

Square Loyalty charges by the number of loyalty visits a business has each month. This can range from $45-$105 per month per location. Square can also give you a custom rate if you have more than 10,000 loyalty visits per month

If you’re in the trucking industry, there are several business loan options available for you. For the purchase of a commercial truck, you should consider equipment financing. You may also be able to qualify for the SBA Microloans program, which provides up to $50,000 in financing for expenses.

Because it is so difficult for startups to qualify for bank loans, many startup owners turn to SBA programs for their funding needs. A government guarantee on loans takes some of the risk off of lenders while providing startup and small business owners with rates and terms that are competitive with bank loans.

A commercial construction loan is a type of loan that is used to finance the costs associated with the construction or renovation of a commercial building. The funds from a construction loan can be used to pay for labor and materials for the construction of a new property, the purchase and development of land for a new commercial property, or the renovations of existing properties.

Credit score requirements for business loans vary by lender, borrowing amount, and type of loan. Borrowers with excellent scores and a solid credit history will have more options for low-interest, long-term loans. Borrowers with fair to poor credit scores may find the funding they need with alternative lenders that offer short-term, high-interest business loans.

To obtain a small business loan, lenders often require the borrower to pay a percentage out of pocket as a down payment. But why do you have to pay money upfront when you need to borrow money? Is there a way around this apparent catch-22? What loans require down payments, and what are your options if you don’t have the funds to pay it?