Category: Business Credit

SB 1235 and Truth-in-Lending, What it Means for Small Business Owners

SB 1235 and Truth-in-Lending, What it Means for Small Business Owners

Whether or not you're not big on following politics or your local government, it's worth your time to learn about California's SB 1235. Many of us take for granted the fact that any personal loan or credit card or other consumer lending product comes with some key details, such as the total amount being financed, the cost of financing, repayment terms, etc. It's not just nice information to know, it's also a way that the law protects consumers. What may… Read More
Should You Take Out a Loan for Payroll?

Should You Take Out a Loan for Payroll?

When cash flow slows, becomes stagnant, or is otherwise disrupted (large purchases, overdue accounts, etc.), business owners can become vulnerable to a variety of financial woes. Bills can go unpaid, vendor relationships can become strained, and, if the problems persist, your credit can take a quick slide downward. Unfortunately, cash flow problems can also impact another essential part of your business – payroll. Aside from leaving employees disgruntled, failure to meet your payroll obligations is considered a violation of the… Read More
6 Confusing Small Business Loan Terms Defined

6 Confusing Small Business Loan Terms Defined

Getting a business loan can be tough. You know the ins and outs of your own business, but you might not know how to get the funding you need. To make matters worse, small business lending is full of confusing bank lingo that you may not understand. If you need a crash course in business lending lingo, here’s a quick rundown of five confusing small business loan terms. APR You see APR everywhere when applying for financing, but you might… Read More
Does My Business Credit Score Really Matter?

Does My Business Credit Score Really Matter?

Your personal credit is important for many obvious reasons; if you want low rates on a car loan, mortgage, or to pass a background check or to impress your in-laws, a healthy credit profile is crucial. Many people, however, are unaware of another world of credit scores and reports: business credit. Your business credit score works for your business just like your personal credit score works for you personally, but with so many business owners sticking with their personal credit… Read More
Do Inquiries Impact My Business Credit?

Do Inquiries Impact My Business Credit?

Inquiring minds want to know: Can lenders looking into your credit profile hurt your business credit score?   Inquiries account for 10% of personal credit scores, but the way they impact business scores is less straightforward. Learn how inquiries might affect your business credit and why it matters in this article from Nav's experts. Business credit scores often incorporate more factors than personal scores, and it can be difficult to know whether or not your credit inquiries are affecting your… Read More
Will Bankruptcy Stop Me From Getting a Business Loan?

Will Bankruptcy Stop Me From Getting a Business Loan?

Entrepreneurs often plow through the most difficult of obstacles and won’t let anything stop them. Some won’t even let bankruptcy slow them down. Henry Ford, Walt Disney and Milton Hershey are just a few examples of business owners who failed terribly before they succeeded. What if you are recovering from personal or business bankruptcy and find you need financing; are you out of options? Not necessarily. Because lenders want your business, there are probably options for you, regardless of your… Read More