Category: Business Financing

Business owners are leveraging their personal credit in a major way, according to new data from Nav. Nav analyzed anonymized personal credit card usage data from 143,004 of its small business customers and 128,281 of its consumer customers. Business credit cards were excluded from the data. While consumers carry an average of 2.32 credit cards, small business owners average at 4.78 cards. The average total limits on those cards among the two groups mirrors this as well, as average consumers… Read More

It's rare when a major bank adds a new credit card to its suite of offerings, but today, Chase has done just that. Chase has provided great credit card options for small business owners for years, and have now added a new card to the Ink line -- the Chase Ink Business Unlimited. While many of the features of the Ink Business Cash Credit Card will carry over to the Business Unlimited, a key change may make it even more appealing… Read More

A new report released by SCORE reveals some interesting data regarding small businesses, particularly women-owned small businesses. Of the 28 million small businesses in the United States, 39% are owned by women, which increased by 45% from 2007 to 2016 and continues to rise. Women are more likely to start a business than men, enjoy equal success as measured by business starts, revenue growth, job creation, and time in business. And while men are more likely to operate in the… Read More

For small business owners, an SBA loan is one of the most desirable and sought-after financing options when they're looking to expand in one way or another. According to business credit expert Gerri Detweiler, "SBA loans can offer your business competitive interest rates and repayment terms. They can be especially attractive to businesses that are growing but are having trouble getting traditional financing because they don't have a lot of collateral." SBA loans typically require lower down payments and have… Read More