Qualifying for a small business loan is based on a couple of factors: your personal credit history; how long you’ve been in business; the type of business you run; and business revenue. Use this information to find the right loan for you and get ahead in business.
Small businesses employ many types of financing products to generate working capital. The options range from commercial real estate mortgages to equipment financing, and from asset-based lending (ABL) to secured bank loans and lines of credit. While they all are great resources for businesses, they can sometimes be difficult to get and often require the business owner to pledge collateral. Check out these tips for getting a small business loan now.
Small businesses are the lifeblood of the United States economy. Recent data from the Small Business Administration (SBA) finds that these companies represent 99 percent of U.S. companies and 54 percent of total sales. The small business may be “small,” but it has a big role to play in economic growth and unemployment rates. Check out these tricks for getting a small business loan with an alternative lender!