People use personal loans for a variety of reasons, such as consolidating debt, paying off medical debt or for expensive auto repairs. But there’s something else the average consumer needs to know: Personal loans can be used to finance your small business. Regardless of the label, a personal loan may be just what is needed…
Being new to the business of commercial lending, I had a Odd Considering the collateral and its importance while giving loan. As time goes on, I realize the importance of not only to achieve Collateral when giving a loan, but the absolute necessity of having it. First things first, what is collateral and why is…
If you do not have spare money to spend, you can take an unsecured business loan. These types of loans are a positive option for those who run their own business – some companies ensure that the funds are available within 24 hours of applying. Note that business loans are different from personal loans –…
There are financing solutions for all types of businesses, although more established businesses in good financial standing have the most options. Business lending companies vary from organizations affiliated with the SBA to “angel investors.” The most common type of lender is obviously the traditional bank, but this may not be the right option for you….
In our next article we wanted to talk about how to get an SBA loan. Many of our clients purchase ready-made business plans for the SBA and are not 100% sure how the process works. Let us however help shed some light on what they are, how they work and the steps to avail a…
It takes money to run a business and almost everyone has heard the adage that you have to spend money to make money, but if you are not independently wealthy, or not established then where do you get the money from? Business loans are the answer to most business needs. It doesn’t matter how big…
To be successful, any business needs a committed owner, strong concept, realistic goals, strategy and financing. Using your own money is usually a wise choice, but the problem with most new business owners is that they don’t have their own money. The only real option is to get a small business loan. Financing is generally…
Reports of a large number of defaults, foreclosures, and bankruptcies have made headlines recently, but the economic downturn isn’t solely to blame for the popularity of bad credit loans. A market has always existed for these types of loans. Now, the increased demand has often exceeded supply and resulted in a significant increase in the…