The United States is now nine years into one of the longest continuous stretches of economic recovery and yet access to working capital remains stubbornly out of reach for the majority of small businesses. Though repeatedly referred to as the so-called “backbone” of the American economy, small business owners have found themselves mostly ignored and on the sidelines while large corporate profits have soared and money has flowed freely between the big banks and big business. Adding insult to injury is the low interest rate environment that has endured since the financial crisis. Money is cheap but only for those who need it the least.Read More
Originally published Apr 19, 2017. Republished September 28, 2018.
It's hard enough to get business credit when you have zero debt and perfect credit. If you're struggling with high-interest debt and your credit score has taken a hit, getting approved can seem impossible. However, because a debt consolidation loan can slash your interest payments and help you catch up, it's important to not give up. And even with bad credit, you do have several options available.Read More
Originally published Sep 30, 2016. Republished August 13, 2018.
Hard money lenders are very reluctant to provide 100% financing on a deal. When prospective borrowers say they need 100% financing, they're raising questions about how much skin they have in the game.Read More
Originally published November 1, 2015. Republished August 2, 2018.
Women-owned small businesses are making huge strides in the U.S. economy.
With over eight million U.S. small businesses owned by females, business-minded women generate over $1.5 trillion in revenue each year. With an increasing amount of women-owned businesses sprouting up every day, this minority is easily starting to edge into the majority.Read More
Originally published April 19, 2017. Republished May 25, 2018.
As a small business owner, it’s likely there will come a time when you seek a loan.
As you go through the borrowing process, you might find yourself pausing on a section of the application that asks for a personal guarantee.Read More
Originally published Jan 18, 2017. Republished May 29, 2018.
Let’s begin with the formal explanation of a merchant cash advance (MCA) and a brief history. A merchant cash advance is simply an advance of funds from one party to another with a set payback amount. For example, a restaurant that receives $10,000 and agrees to pay back $13,000 from future revenue is a typical MCA. If this sounds a lot like a loan, you’re right. A difference without a distinction? Perhaps. That’s why a brief history and an explanation of the nuances is important.Read More
Originally published on Jun 27, 2016. Updated May 25, 2018.
Even borrowers well-versed in hard money loans often still harbor questions about securing this type of financing. For the novice, these inquiries can become near-insurmountable challenges, and for good reason.Read More
A merchant cash advance (MCA) acts as a working capital loan in certain situations. Remember that an MCA is not a typical loan, rather it is an advance against future cash flow. This kind of funding allows a business to position a portion of its revenue to pay back the advance while leaving the business financially solvent.Read More
Let’s begin with a disclaimer. Securing a merchant cash advance is not for every small business owner. Before you even consider shopping for an advance, remember the rule of thumb: Only take what you need, not what you want. You can’t borrow with the hope that you’ll have the money to pay back an advance, you need to be certain that these funds will be productive and that payback is within reasonable reach.Read More