Small businesses usually go through a lot of rigorous processes with traditional financing options. From high decline rates and long waiting periods to complicated approval processes and spending restrictions. As such, they do not have access to the funds necessary to move from being a small business to one of the top companies in their industry. However, Merchant Cash Advances is a financing option available for small businesses that put this problem at ease.
What can you do if you have a warehouse filled with unsold inventory, but you need some extra money? Well, you can take advantage of an e-commerce inventory loan. Inventory is super important in any business that depends more on products than services. If you want to keep your customers happy and make sure your business continues to run smoothly, you have to ensure your inventory is in proper condition. However, no matter how profitable your business is, it wouldn’t hurt to have access to extra funding options that are hassle-free. So, let’s talk about e-commerce inventory loans.
If you need a reliable and hassle-free funding option for your real estate investment deals, then hard money loans are perfect for you. Who says you only have to rely on your money to make more money? As a smart real investor, you can get access to the best hard money loans from reliable lenders. With this loan, you can leverage the capital gained from other funds and use it for more transactions. Of course, this would mean an increase in profits and the efficiency of your investment profile. Although the interest rates are usually higher than conventional funding methods due to shorter loan durations, it is mostly worth it, given their fast approval time and less extensive documentation procedures. Hard money loans are categorized into residential rental property and commercial real estate loans.
SBA loan, more commonly known as the SBA 504 loan, was created from Section 504 of the Small Business Investment Act enacted in 1958. The Small Business Administration loan operates in the United States as a financing option for purchasing fixed assets like machinery and real estate at a price lower than market rates. The purpose of this loan from a federal agency is to support and encourage the development of small businesses across the country. Since it was formed more than 50 years ago, it has since gone on to deliver more than 20 million loans and other forms of assistance to small businesses. It remains one of the most reliable sources of funding for small businesses, and this SBA loan is offered through multiple financial institutions.
A business line of credit offers more flexibility than a term loan. With a term loan, you will be given a one-time amount of money upfront. Then, you will be required to repay it over a fixed term. However, a business line of credit is more versatile. You can reuse and repay a business line of credit as much as possible. The important thing here is that your payments should not exceed your credit limit, and they should be paid on time. You can also enjoy the option of repaying your full balance early, a move that will save you on interest costs.
A commercial loan is usually gotten on commercial real estate properties. So, what qualifies as commercial real estate? This includes income-producing real estate that serves as a place of business, including hotels, apartments, and offices. From this, you can tell that this means that commercial real estate loans are valid for only business entities formed for the sole purpose of operating as commercial real estate. Commercial real estate loans can then be used for the construction, acquisition, and development of these properties.
In the world of insurance, a book of business is a client relationship management tool that contains all the insurance policies of insurance companies. With this, insurance companies can always keep track of all subsequent coverage obligations and policyholders that will help them make relevant business decisions to foster progress. With this Book of business, insurance companies can also use information gotten about the areas that are generating a lot of revenue to determine how to approach their market. Using this, they can align their clients with their top products to create future policies that will grow the company. All in all, a book of business is basically that information grid that helps insurance companies follow up on customer service and use their customer data accurately.
Account receivables are perfect for you if you have a small business that needs working capital, especially if your clients are commercial businesses that delay payment for too long. With account receivables, you can fuel your business with an advance of more than 90% of the amount on your invoice when your job is completed. This is called invoice factoring. So, let’s dig deep and discuss what this is about.
When it comes to getting funding for your small business in any industry, opting for traditional methods is not always the best move. Visiting the bank for loans means longer approval times and higher interest rates. However, opting for Rollovers for Business Start-ups (ROBS), also known as 401(k) business financing, allows you to finance your business without risking your property as collateral or even an excellent credit score. ROBS involves tapping into your retirement funds and using this to finance your business. The best part is that this is absolutely tax and penalty-free. This is almost too good to be true, so let’s discuss it in detail.
Your credit score reveals to lenders and creditors how risky it is to approve your loan or line of credit. You are about to get a loan from someone who doesn’t know you personally. Therefore, they have to review your past payment history to be sure that they can trust you with the funds. The most widely used credit score is FICO, which usually falls between 300 and 850. Anything higher than 750 is considered excellent credit, but a score of 600 or less makes it a huge credit risk. Here are 7 easy things you can do right away to increase your credit score:
Going through a divorce with someone you once had close ties with is usually a difficult process. However, this becomes very necessary when a union is clearly not working. Divorce could have a detrimental effect on your credit report. Therefore, credit and divorce is a topic that should not be ignored. You have to take the necessary steps to protect it. Here are some tips to ensure you have good credit during your divorce:
Filing for bankruptcy is usually the next option most people take when they are struggling to manage their increasing debt. However, this is not always the easy way out some people think. It can be a very complicated and expensive process. Not to mention, it can have a very harsh impact on your credit, reducing your credit score by as much as 200 points. Filing for personal bankruptcy should ultimately be your last resort. Therefore, you need to know this before filing for personal bankruptcy.
A debt collector may contact you if your creditor’s records report in error that you’re behind in paying your bills, or you have actually not paid them. This debt collector is charged with collecting debts on behalf of those owed. These could be lawyers, companies that buy delinquent debts, or collection agencies. Therefore, when it comes to debt collection, here are some FAQs that could be an excellent guide for you as consumers to ensure that you understand your rights.