SBA Loan Myths: It’s Time to Bust Them

It’s time to bust some SBA Loan Myths! In this day and age, many people are terrified of getting a loan. These individuals have come to believe many myths associated with the process of getting a loan. These misunderstandings become a tragedy when they prevent people who may be qualified from even attempting to get an SBA loan. There is available funds out there that can be used to help a daring entrepreneur take that first step into starting a new business. In many cases all that this entrepreneur needs to do is take the time to apply. Debunking these…

Calculating Your Small Business Loan Payments Correctly

In order to start a small business, most people need to acquire a small business loan. Business owners that are successful are able to make a business plan that will stipulate how much money needs to be acquired, and have a reasonable repayment schedule. If this is done correctly, then a small business owner will be able to expand their business, and pay back the loan a little bit at a time. Figuring out how much money to ask for can be difficult. Many factors need to be taken into account so that the loan will be big enough…

Priority #1: Care About Your Business Credit

Why You Should Care About Your Business Credit Pretty much everyone understands, at this point, the importance of credit for personal finances and transactions. A lot of small business operators, though, neglect to think about the importance of maintaining a good business credit history separate from their personal credit. For the most part, this happens because people think their companies are too small to need their own credit or that the fact that they have not yet started to actively cultivate their debt and repayment history means that they do not have a credit file yet. This is not true. If…

What You Need To Know About Long Term Working Capital Loans

For small business owners, working capital loans can be one of the most useful and versitile tools in their toolbelt. The need for financing is a common one and it is practically guaranteed to be unavoidable at some point. When the need does arrise, choosing this kind of loan provides many different benefits. Firstly, like all loans, the primary benefit is that you get capital immediately and can then pay them off slowly over time. This is an excellent way to grow your business in ways that would normally be financially impossible, and the increase in cash flow could mean…

Why You Should Consider Unsecured Business Lines Of Credit For Your Business

Any business that is seeking financing has many different options. The most traditional solution is to take out a loan, but that is not very convenient. Loans are slow and strict. They also do not allow for a very large range of applications. Even the very smallest business loans are multiple thousands of dollars. This means that a loan is only a solution for major capital needs, and is completely infeasible for daily or smaller issues. If your financing needs have any of these problems, an unsecured business line of credit is the answer. A line of credit is a…

Invoice Factoring for Oil Businesses

Invoice factoring is an excellent solution to a growing company’s need for liquidity. Expansion requires funding and quickly changing markets often will not wait one to two months for customer payments. When a business needs cash now but only has illiquid resources, the management can call upon a third party to purchase accounts receivable, or invoices. This third party will often be a commercial company known as a ‘factor.’ Also known as accounts receivable financing, factoring affords quick cash within industries that have lengthy production to market processes. For example, oil companies must extract and refine their product before bringing…