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Feb 20, 2019 10:06:21 AM

Banks Set to Tighten Small Business Lending in 2019

Fed survey cites economy, legislative changes and competition as key reasons.

Small businesses were largely shut out from the economic recovery over the past decade when it comes to business lending. Unfortunately, the most recent Senior Loan Officer Survey conducted by the Federal Reserve indicates that this isn’t likely to change in the near future. In fact, it’s probably going to be even more difficult to get a small business loan from a commercial bank.

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Feb 1, 2019 5:03:25 PM

Preparing for a Recession: Working Capital Now, Not Later

All signs point to slowing growth in the U.S. economy in 2019. Many economists believe that indicators such as lower new home construction and the yield curve inversion (the difference between short-term and long-term interest rates) indicate a looming recession, sometime in 2020. Small businesses typically feel the pinch far before large private and public companies that have been holding cash on their balance sheets since the 2008 financial crisis. Public corporations, in particular, have leveraged the booming economy, and more recently, the Trump administration’s tax cuts, to buy back stock and keep cash on the sidelines for a rainy day.

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Jan 14, 2019 6:04:27 PM

Small Businesses Impacted by Government Shutdown

As the partial government shutdown enters a fourth full week, the economy is beginning to feel the pinch. Democrats and Republicans in Washington, D.C., are at a standstill over proposed funding for President Trump’s border wall and security plan, and—as of this writing—there’s no end in sight or forward progress to report.

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Nov 5, 2018 6:51:00 PM

The Merchant Cash Advance Industry is Maturing but Obstacles Remain

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.

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Sep 28, 2018 3:45:00 PM

Can You Get a Debt Consolidation Loan With Bad Credit?

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.

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Aug 13, 2018 8:27:00 AM

Three Reasons Why 100% Financing on Hard Money Loans Does Not Exist

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.

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Aug 2, 2018 1:02:00 PM

Women-Owned Business Loans

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.

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Jul 23, 2018 8:27:00 AM

The Different Types of Personal Guarantees

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.

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Jun 22, 2018 11:22:00 AM

Merchant Cash Advances (MCA): Everything You Need to Know

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.

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May 29, 2018 3:59:00 PM

What is Hard Money Lending? Borrowing Against Real Property

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.

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