Whether your startup is already ready to expand, or will sometime in the future, it’s best to be prepared.
A low credit score is a detriment to any individual or business seeking loans, but it doesn’t entirely eliminate your financing options. FICO defines bad credit as a score between 300 and 629. If you fall within that margin, you can still fund your business in a way that gets your score back on track and opens more doors in the future.
Topics: Small Business Lending, Small Business
We finally have our first glimpse of Congress’s Keeping Workers Paid and Employed Act. What an unusual time to be in SBA lending! I hope that this will pass and become law in the next two to three weeks. Here are the highlights:
Topics: Small Business Lending, SBA Lending, COVID-19
I know many of you have had SBA 7a customers calling and asking for loan deferments. Below is a guide of how to document your loan file.
Topics: Small Business Lending, SBA Lending, COVID-19
There are many SBA developments amid the Coronavirus outbreak and several changes are being made to the SBA loan program. As changes continue to unfold, I will keep you informed.
Topics: Small Business Lending, SBA Lending, COVID-19
Whether you have an old family recipe that you feel should be shared with the world or want to try your hand in a growing industry, starting a restaurant is challenging yet rewarding experience. Setting aside the intricacies of creating menus and establishing your brand, you will need significant seed money—The Balance Small Business’s Lorri...
Topics: Small Business Lending, Small Business, Entrepreneurship
Saving for retirement is meant to help you finance your future, improving your quality of life after your work years. The more you are able to set aside and the longer you allow that money to accrue, the more cash you’ll have to live on. Because of this, it’s recommended to defer taking funds from your retirement savings as long as possible —...
Topics: Small Business Lending, Business Banking, Small Business, Retirement, Entrepreneurship