Running a small business means keeping expenses in check while still stocking up on the necessary supplies to operate smoothly. For many owners, wholesale clubs like BJ’s Wholesale Club offer significant savings by allowing bulk purchases at discounted prices. To make those savings go further, BJ’s also provides its own line of business credit cards, which reward you for BJ’s
What are Online Business Loans? Online business loans are financing products that small businesses can apply for and manage entirely online. They’re offered primarily by online lenders and alternative financing companies, though some traditional banks now offer digital loan programs. What makes them unique is their streamlined application process, faster funding times, and often more flexible eligibility requirements compared to
The costs of a business loan can vary significantly depending on the type of loan, lender, and your credit profile. The typical interest rates for small-business loans range from 6.54% to 99% APR. Business loans usually involve fees besides interest, increasing the actual cost.
A business payday loan is often used to describe a form of alternative business financing that provides quick access to capital for small business owners. While a consumer payday loan provides short-term funding based on the borrower’s salary and personal income, a business payday loan works differently.
A business payday loan is a nontraditional form of financing that functions similarly
Collateral refers to assets that a business owner pledges to secure a loan. Essentially, collateral acts as a safety net for the lender, ensuring they can recover their investment if the borrower defaults.
In the case of a secured business loan, the lender has the legal right to seize the pledged assets to recover the outstanding loan balance. Collateral
Many small business owners seek financing help, and construction is no exception. But many contractors don’t have the credit to get a traditional bank loan.
One option is converting the unpaid invoices in your accounts receivable into working capital with invoice factoring. Construction invoice factoring means selling your accounts receivable assets for an immediate influx of cash.
Small businesses often need financing help to purchase expensive equipment, but financing is a significant challenge for small business owners with low credit scores. Some business owners with poor credit might think they don’t have financing options, but bad credit business loans are available.
This guide will cover the best strategies to get a bad credit equipment loan so you
Some companies use small business finance options to meet working capital demands. But many smaller practices don’t have the credit score or business history to get approved for a traditional business loan.
Medical invoice factoring allows medical practices to sell unpaid invoices for an immediate influx of cash.
Purchasing multiple vehicles (a fleet) at once helps the company ensure it has enough transportation available. In addition, it’s sometimes possible to reduce the per unit price when purchasing a fleet versus buying one vehicle at a time.
The problem many small businesses face is that commercial fleets come with a massive price tag, and most companies don’t have the
With the advancements in fintech capabilities, invoice factoring is gaining popularity as an alternative financing method for small businesses. Invoice factoring is the process of selling unpaid invoices for a cash advance.
While invoice factoring helps companies that can’t qualify for traditional small business financing, there are some drawbacks small business owners should consider.
If you’re considering invoice factoring and
