Category: Business Financing

Decoding a Loan Offer from BondStreet

July 23, 2015 Lydia Roth

Bond Street, a business lender which made its first loan a year ago recently closed $110M of financing from Spark Capital and Jefferies. From the first look, they are an online term loan lender just like FundingCircle or Dealstruck. We decided to do a deep dive on their application. Here is what we found. Rates & Fees & Requirements Their APRs are between 8-25% for loans that will be repaid in 1-3 years. The basic requirements are 2 years in… Read More

The Most Important Financial Concept an Entrepreneur Should Know

July 8, 2015 Guest Contributor

Guest post by Tim Berry. Read the original post on Quora. For more from Tim Berry, visit Timberry.com. What is the most important financial concept an entrepreneur should know? Too many people think that cash flow is the same as profitable, which leads sometimes to dangerous complacency. True, they are related; but you can be profitable and run out of cash. Just being profitable isn't enough to guarantee cash. And by the way, cash and cash flow in this context… Read More

How to Bounce Back from a Business Loan Rejection

July 2, 2015 Jared Proctor

Go from rejected to approved on your next business loan application. It’s amazing how one piece of paper can have the power to open doors to your dreams, or close right in front of you, holding you back from what might have been. When you receive a business loan rejection letter, you may feel like the door of opportunity has slammed solidly shut. There’s not a sliver of light escaping around the edges. Whether you’re launching a new business, looking… Read More

How Much Money Do You Need to Start a Business? [Infographic]

June 16, 2015 Jared Proctor

Launching a business takes more than just a good idea – it usually requires serious cash to make that dream a sustainable reality. This is where a lot of people get in trouble. The SBA has found that the No. 2 reason companies fail is insufficient business financing. You can keep yourself out of the “failed” boat by taking a little time to calculate your start up costs. It varies by industry, but here are five basic tips to help… Read More

Best Business Loans 2015

May 27, 2015 Lydia Roth

Over the past year, we have been following financing providers that fall under a variety of different loan categories: online term loans, merchant cash advances, microloans, etc. Based on what we've found, we came up with a list of financing products that we think will be the best business loan options for business owners in 2015. Here is that list. Best Term Loans 1. Lending Club Many business owners do not realize that Lending Club offers business loans in addition… Read More

Decoding a Loan Offer from OnDeck Capital 2015

May 22, 2015 Yun-Fang

The Offer We obtained the copy of an offer from OnDeck Capital from a business owner. The offer looks a bit different compared to a year ago. Instead of quoting interest rate, it quotes by "cents on the dollar" as shown below. This particular business has millions of annual revenue and is profitable, so he was able to secure a $200,000 loan from OnDeck. An image is worth a thousand words — the following is the APR he… Read More