5 Tips for Securing a Small Business Loan

Are you an entrepreneur ready to take your small business idea to the next level? Does your current business need additional capital for growth and expansion? No matter which situation applies to you, securing a loan is essential when it comes time to finance your venture. This blog will answer the question of what is an SBA 504 loan and give tips to secure it.

Small business loan

An SBA 504 loan is a long-term financing option designed to help small businesses purchase fixed assets such as real estate and equipment. It is funded by private-sector lenders and the U.S. Small Business Administration (SBA).…

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How to Get a Small Business Loan When You Have Bad Credit

Cash flow is important when you run a business. It’s how you pay your daily operating expenses, buy inventory, and pay your employees. But there will be times when your business isn’t bringing in as much cash. There will be other times when you’ll need a lump sum of cash to pursue an opportunity, like expanding your space or taking advantage of a bulk discount on supplies. You’ll need to get a business loan.

Taking small business loan

But what if you have bad personal credit and a low or nonexistent business credit score? Getting a small business loan when you have bad personal credit or bad business credit can be challenging, but it’s not impossible.…

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Top Reasons You’ve Been Rejected For A Small Business Loan

After carefully evaluating the costs of starting and operating your business, you realized you need a little financial assistance. You decide to apply for a small business loan through a local bank or credit union. You gather the appropriate documentation and complete several applications, but unfortunately, you learn you’re not qualified.

Small business loan application rejected

What went wrong? More importantly, how can you improve your chances of getting approved for a loan in the future?

Your Business Lacks Credit

There’s a risk for lenders every time they issue a loan to a customer. While the hope is that you’ll receive the loan and repay it, that doesn’t always occur.…

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6 Tips When Getting a Small Business Loan

As an entrepreneur, getting a small business loan can be challenging. However, it doesn’t need to be a nightmare.

Preparing for the loan application process improves your chances of securing a loan. It demonstrates your reliability and capability to pay loans on time.

Small business loan

Here’s what small businesses need to do to speed up the application process. It’ll improve your chances of getting the loan painlessly and effortlessly.

1. Determine Why You Need the Loan

Before you fill out the loan application forms, understand the motivating factors. It’s among the many questions that lenders like Thinking Capital will ask.

In most cases, you’ll seek for financing to:

  • Grow your enterprise
  • Acquire equipment
  • Start your business
  • Manage daily expenses
  • Get a safety cushion


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6 Smart Reasons to Get a Business Loan

Going into debt for your business can be very intimidating, especially if you are not sure if you should. Here are six good reasons to consider getting small business loans.

Calculating business loans usage

1. To buy needed equipment

A loan will enable you to buy the equipment and machinery that you need to create products or provide services to your customers, or to replace or upgrade the ones that don’t work well anymore. The good news is, if you get equipment loans, the actual equipment can usually be used as collateral for the borrowed money. Just be sure to use the loan to purchase equipment that are necessary instead of nice but optional.…

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A Comprehensive Guide To A Small Business Loan

Businesses of all shapes and sizes are going to need money at some point or another. Unless they’re able to increase their revenue, they’re going to be required to find money through other sources. This is why a lot of companies will take out a small business loan. This isn’t a good idea in all situations, but it will prove to be very wise in some.

Small business loan application process

Within this guide, you’re going to learn a great deal more about a small business loan and the most appropriate times to take one out.

What Is It?

First and foremost, you should learn the basics.…

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How to Avoid Needing Regular VAT Loans

You are a business owner who makes quarterly VAT payments. You know you’re going to come up short when your next filing is due, so you’re already thinking about getting a loan. Unfortunately, this is not your first time. You have used VAT loans multiple times in the past. You are thinking you would like to break the cycle, but you don’t know how.

Tips for avoiding VAT loans

VAT loans are not bad in and of themselves. They are exceptionally good tools to help business owners manage cash flow when times are a bit tough. However, they are not intended to be a long-term funding that continually gets recycled quarter after quarter.…

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What are The Benefits and Pitfalls of a Small Business Loan

Despite the many challenges involved in running a small business, it is also an exciting time. There’s so much room for potential, and different aspects of your industry to explore in your business’ development. However, if you’re to drive your business forward and ensure a tangible presence in your local area, raising capital is an absolute must.

One way of achieving your short and long-term goals is by applying for a Small Business Loan. So to help you make an informed decision, here’s what you need to know about Small Business Loans.

Small business loan

What should I do before applying for a small business loan?

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FHA Loans for Small Business Owners

When you own a small business, the phrase “home sweet home” can also mean “business sweet business” as everything overlaps. If you have a home-based business or have money tied up in developing your startup, it can be challenging to get a mortgage.

FHA loans for small business

For small business owners, a Federal Housing Administration (FHA) loan is an alternative option to conventional mortgage plans. Those who don’t qualify for a mortgage may qualify for an fha loan. Here’s what you need to know about this option to determine if it’s the path for you as a small business owner.

What is an FHA Loan?

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Can You Get a Small Business Loan With Bad Credit?

When you start a business, there’s a very good chance that you are going to need some extra capital. Whether you need money to hire and train employees, to pay for office space, or to buy inventory, it seems there is always something to spend money on when you start a business.

Small business loans

The great news is that there are so many options out there for finding the funding you need, from small-business loans to lines of credit. But what if your credit isn’t exactly stellar? Can you still get a small-business loan with bad credit?

The answer is yes, but it may be more challenging than you think.…

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