Category: Business Credit

They say it costs money to make money, but it also costs money to borrow money, a notion that may seem at odds with the goals and ambitions of small business owners. Whether it’s a term loan or a line of credit, securing funding will likely mean paying interest, but it can also mean paying a variety of fees, including an origination fee, or the fee charged by a lender at the start of a lending agreement. Though it’s not… Read More

In the not-so-distance past, it was almost always required that businesses put up some kind of collateral for a loan or line of credit. Offering up something of value guaranteed that, if the business should fail, the bank wouldn’t walk away from the relationship empty-handed. This type of loan, also called a “secured loan,” still exists, and collateral is required of many of the business-targeted funding products available today. But is it the only way for a company to obtain… Read More

Key Takeaways Many small business lenders check credit, especially for newer businesses. Financing options that don't require a credit check are often based on business revenue. Business owners with no credit or bad credit may be able to get financing without a credit check. Maybe you need a small business loan to start a business or launch a new product, or perhaps your growing business is dealing with the unexpected, like a dip in revenue, costly repairs or renovations, or… Read More

Your social media accounts are places where you can connect with others. They are platforms where you can seek entertainment or seek to entertain. They are places where you can market and grow your business. What you might not realize, however, is that your social media accounts may also be used for a very different purpose. Those accounts you use to try to grow your brand could impact your ability to borrow money for your business as well. Why Commercial… Read More

We already know that you can apply for most business credit cards and credit products, day or night, within minutes. The more pressing question most business owners have, however, is “when will I know if I’ve been approved?” While desperation is usually not a good place to be when applying for credit, the waiting game can be torturous for a company who just needs a little financing help to move forward with a product launch or the next phase of… Read More

How does credit impact your small business, and how can you use it to your advantage? Here’s a step-by-step guide to leveraging credit to grow your business.  But first, why should you care? Business Credit as a Strategic Growth Lever Creditworthiness matters. Whether you’re looking for business financing, or in the running for a major contract, strong business credit can help your business achieve those goals. The Old “Use Money To Make Money” Adage It’s understandable that many business owners… Read More