Life Insurance for SBA Loans: Getting the Right Coverage
Before a bank approves your SBA loan, it is going to ask you for a life insurance policy. Getting the right coverage can be a headache — here’s our advice.
5 Questions to Ask about Your Small Business Loan
For many small business owners, business loans are a likely choice for funding, especially loans from the Small Business Administration. These loans offer low interest rates and affordable monthly payments, and are low-risk for lenders since they’re backed by the federal government. Even if you’ve…
401(k) Business Financing as the Down Payment for a Small Business Loan
SBA small business loans are difficult to obtain in the first place. Combine this with the fact that once you do secure your business loan, you will need to provide at least 20 percent cash down, and it’s no wonder that many prospective small business…
Everything You Need to Know About Your Small Business Credit Score
If you’re in the process of applying for a small business loan, something called “the SBSS score” has probably popped up in literature about credit screenings. So what is it? The FICO SBSS score (Small Business Scoring Service), simply put, is a credit score that,…
Take 2 Steps to Get the Best Small Business Loan Rates
Is it time to realize your dream of being an entrepreneur? All over the country in towns just like yours, small businesses such as breweries, senior care centers, and pet grooming stations are popping up as fast as their owners can get space and funding.…
Is an SBA Working Capital loan right for your small business?
SBA Loan Overview Many small business owners turn to Small Business Administration (SBA) loans to fund their ventures because they offer low-interest rates, favorable repayment terms, and no ballooning costs. There are several types of SBA loans, the two most popular being traditional 7(a) loans…
SBA 7(a) Loans vs. Low-Doc Loans: Which Is Right for You?
When savings run out, many small business owners turn to loans from the Small Business Administration to find financing. Because of their preferable repayment terms and the fact that they’re guaranteed by the federal government, SBA loans are one of…