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Importance of Opening a Business Line of Credit for Small Businesses
Opening a business line of credit is an ideal option for small businesses looking to grow and expand their operations. It provides a constant source of liquidity, allowing you to fund regular expenses or take advantage of unexpected opportunities without having to wait for reimbursement from customers or lenders. A business line of credit also…
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Do You Need Fast Funding For Your Small Business?
Getting fast funding loans for your small business can be a difficult and time-consuming process. That’s why it is important to understand the different types of loan options that are available to you as a small business owner in order to make a decision about which loan is best for your needs. Merchant Cash Advance…
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What is the Difference Between Fixed Interest Rates and Variable Interest Rates?
Fixed interest rates and variable interest rates are two of the most common types of interest rates offered by lenders. Fixed interest rate loans guarantee that the borrower will pay back a set amount over the life of their loan, while variable rate loans fluctuate with economic changes in the market that can increase or…
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Working Capital Term Loan For Small Businesses
A Capital Term Loan (CTL) is a financial product designed to provide long-term financing to small businesses. It is a loan that provides working capital or funds for specific business activities such as purchasing equipment, expanding facilities, or covering operating expenses. CTLs are typically secured by collateral and have terms ranging from six months to…
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Small Business Guide: Refinancing a Business Loan
Small business loan refinancing is a great option for businesses that need to access more capital or restructure their existing debt. By refinancing, business owners can secure better terms on the loan, free up cash flow and reduce their overall borrowing costs. Loan Refinancing Consideration When considering loan refinancing, it’s important to analyze your current…
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Small Businesses: How To Manage Your Loans During A Recession
Understanding what a recession is and how small businesses should manage their loans during one are important steps in planning for the future. What is a Recession? A recession is a period of economic decline that lasts more than a few months, typically lasting six months or longer. It is characterized by reduced spending, unemployment,…
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How SBA Loans are Affected When Interest Rates Rise?
As interest rates continue to rise, the cost of taking out SBA loans is also increasing. With an estimated decline in loan applications of 15 percent or more, small business owners are feeling the pain in their pocketbooks as they must now pay higher costs to take out loans. When Interest Rates Increase Interest rates…
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Pros and Cons of Asset Based Loans For Your Small Business
Asset-based loans are a great financing option for small businesses who don’t have a good credit score or enough cash flow to qualify for traditional bank loans. They are secured loans, meaning that the lender has collateral—in this case, the borrower’s assets—to back them up in case of default. This makes asset-based loans a great…
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Everything You Need To Know About SBA Microloans
SBA Microloans are a great financing option for small businesses. These loans, backed by the U.S. Small Business Administration (SBA), give entrepreneurs and business owners access to capital they wouldn’t otherwise be able to obtain due to their size or limited resources. What is a Microloan? A microloan from the SBA is typically between $500…