What is a business line of credit?
Think of a line of credit as a financial safety net for your small business. It’s a credit account that’s available for you to use, or not use, at your discretion. Anytime you need it, the money is there for you. And you only owe interest on the funds you use.
How much …
What is a VA loan?
A VA loan is a special kind of loan offered by the U.S. Department of Veterans Affairs to veterans, reservists, and members of the military or National Guard. Spouses of military members who died while on active duty or as a result of a service-related disability are also eligible to …
What kinds of small business loans are there?
Small business loans are kind of like great songs. There are tons of different options out there, and they vary dramatically in length, instrumentation, and style. And Lendio is kind of like a jukebox, making it easy to choose your favorite.
Here’s a quick look at some of the highlights in our …
What are microloans?
Microloans are – you guessed it – small loans. They have a relatively small dollar amount and are used to help entrepreneurs grow or sustain their small businesses. Typically, microloans are given in struggling communities to support entrepreneurship and the local economies. United States businesses actually receive only a tiny …
Which loan option is best for my business?
There’s no one-size-fits-all answer. The best loan for your business depends on many factors such as your needs, budget, timelines, and qualifications.
For example, if you need fast cash, accounts receivable financing or a merchant cash advance can get you funding in as little as 24 hours. If you need to upgrade your machinery, equipment financing is probably …
Are there small business loans for minorities?
The short answer: Yes, you have more small business loan options than you think – but there’s still plenty of room for improvement.
The long answer: If you feel like you’ve had a hard time finding a small business loan, you’re not alone. Despite making up more than 1/4 of all businesses in America, minority-owned businesses …
What is a merchant cash advance?
A merchant cash advance enables you to borrow against future earnings so you can get access to funds much quicker than with a traditional loan. The amounts usually range from $5,000-200,000, with terms up to two years. And here’s the kicker: you can get the funds in as little as 24 hours. …
What is a commercial mortgage?
That’s a great question. Basically, a commercial mortgage (also commonly called a commercial real estate loan) allows you to use the equity in your office building or other property to get cash for things like buying, building, expanding, remodeling, or even refinancing and getting cash out of your small business.
The favorable interest rates for …
What is a business credit card?
A business credit card isn’t much different from the personal credit cards you probably have in your wallet at this very moment. It functions in the same way, offering on-demand funding and flexibility for large or small, long-term or short-term purchases. You can leverage it to provide or preserve cash. The primary …
What is a term loan?
Glad you asked! A term loan is a loan that’s repaid in scheduled payments over a specific period of time. It provides up to $2 million with interest rates as low as 6%, and you can often get funded in as little as 24 hours. Your term loan will likely feature fixed …
