Category: Business Financing

Typical Small Business Financing Fees 

Lenders usually charge business loan fees on top of interest. It may cost money to make money, but small business owners should still understand all the possible loan fees to make sure a specific funding option makes financial sense for their business. This article breaks down the most common finance fees, how to understand total loan cost, examples of business loans with no origination fee, and how to find the best business loan to help you make the best financing… Read More

13 Financial Mistakes Business Owners Make (and How to Fix Them)

Like in life, when it comes to running a business, you’re probably going to make mistakes. Knowing what to expect can help you avoid serious and costly setbacks.  Here are 13 common financial mistakes small business owners make, and how to avoid (or at least minimize) them.  1. Mixing Personal and Business Finances Mixing business and personal expenses is a very common mistake many small businesses make.  Sam Morgan, MBA, is a Senior Certified Business Advisor with the University of… Read More

How Can Debt Be Used to Grow a Company?

Taking on debt can be an intimidating move for a small business or entrepreneur — it can feel like a risk. It might feel safer to use savings or a more familiar method of funding like business credit cards. But there can be huge benefits to using debt for business growth. Debt can offer opportunities for business owners that would have otherwise been out of reach. In this article, we’ll explore the ways that good debt can help your business… Read More

Working Capital Loans Based On Commission Income

While those working in sales can make a great income when getting paid on commission, there’s always the risk that when sales don’t close, there’s no commission check. And lenders know that too. That can make it more difficult for salespeople who are paid on commission to get a home loan or other types of loans.  If you’re self-employed as an independent contractor with commission-based income, you may have unique challenges finding financing.  What Are The Options For Working Capital… Read More

Secure Funding Without a Business Plan

A business plan serves as a roadmap for your business's future and communicates your vision to others, including lenders. But you may be wondering if you can get a business loan with a plan for your business strategy. You might be surprised to learn that no business plan loans and other funding do exist — but there are risks involved with them. This article explores which financing and loans without a business plan are available, the importance of a business… Read More

How to Start and Finance Your Own Auto Repair Business in 2023

Business owners looking to start an auto repair business can create a successful enterprise if they understand the industry and how to run a small business. Opening an auto mechanic shop requires industry expertise and small business know-how — all of which is possible to learn.  In this Nav article, we cover what the auto repair industry looks like today, the challenges of opening an auto repair shop and how to handle them, and the steps to take when applying… Read More