Shannon Vissers

If you’re wondering how business loans work, you are probably in the early stages of research for getting business financing. You have taken an important first step: gathering information about what the process is like and learning what to expect if you continue your search for a loan.

Wondering what the difference is between EIDL and PPP loans? Or need help deciding which (or both) type of SBA coronavirus loan your business should apply for? Read on to compare/contrast these two different Small Business Administration loans for small business coronavirus relief and decide which is better for your needs so you can apply for it. 

EIDL disaster loans are an existing SBA disaster loan program, but the US government has recently expanded the program, opening it up to virtually any small business, and added forgivable advances on EIDL loans. The advances, in particular, have gained a lot of interest from small business owners, as these advances do not need to be repaid.

While the CARES Act has many moving pieces and parts, the sections dedicated to protecting small businesses and the people they employ will be a salve amid a tragic month of anxiety. One of the specific offerings in the stimulus package is the Paycheck Protection Program. These loans come with stipulations but are equipped with some generous benefits to help protect payroll. Keep on reading to find out what they might mean for your business.

Inventory financing is a type of asset-based loan in which the inventory you’re purchasing with the loan is used as collateral to secure the loan. Depending on the arrangement, the lender may also require you to put up your accounts receivable as collateral. The amount of financing you receive is directly related to the value of the inventory in question, usually 70 to 80% of the inventory’s value. Read our article for the full story on inventory financing, including rates and terms.

Many businesses may need to borrow money from time to time in order to purchase inventory. But what are the best loan options for small businesses that need to buy inventory?

Don’t think that GoFundMe is the right crowdfunding platform for your needs? Learn about the best competitors to the crowdfunding giant right here.

Shopping for a Clover POS system? With so many companies peddling the system, making a choice and comparing costs can be daunting. Let us set the record straight on what a good Clover POS price is and where you can get the best deals.

If you want to accept payments online, here are the best online credit card processing companies. Plus, check out our list of must-haves and major concerns for eCommerce businesses.

The following lenders will work with you for a business loan even if you have bad credit — and they won’t take advantage of you.