Did you know your credit score is an important part of starting a business? Keep reading to learn more about credit, how your credit score is calculated, as well as how it’s used when funding a new franchise.
2 min read
SBA Debt Relief - Great News if You Can Get Your Loan Closed in Time
Over the past several weeks, we have faced unprecedented business interruptions in the wake of the coronavirus pandemic. In response, the CARES Act was passed to provide fast and direct economic assistance for American workers and their families, as well as existing small businesses.
As part of the coronavirus debt relief efforts, the SBA announced a loan payment assistance program. If your business already has an SBA loan in place, with the first payment due after March 27th, 2020, OR you are a new borrower and can close your SBA loan and be in regular loan servicing on or before September 27th, 2020, the SBA will make your first six payments.
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SBA Loans
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3 min read
What Does it Take to Get Your SBA Loan Funded?
As the borrower, you have an important role in the process.
Getting your Small Business Administration (SBA) loan approved is an important first step, but getting your money in hand requires a successful loan closing. The loan closing can take substantial time if you’re not prepared and able to provide what's needed to the lender's closing team in a timely manner.
Topics:
SBA Loans
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3 min read
Get Cash to Keep Your Business Running During Coronavirus
Update: See our new Coronavirus related information here.
When you launched your business, who would have guessed you would need to prepare for a global pandemic? Most business owners do not have a contingency budget anywhere close to what they need to mitigate this type of operational impact.
2 min read
Dos and Don’ts in Credit: How to Qualify for a Bigger Business Loan
You probably know what a credit score is, but do you know how to protect it? By understanding what affects your credit score, you can make better decisions that will, in turn, positively impact your score. Not only is understanding your credit score important when looking for a car loan or mortgage but maintaining a good credit score is essential for any business owner. Most lenders will heavily weigh your score when determining your business’ creditworthiness, but what impacts your score? Let’s look at the five factors that are considered when your credit score is reviewed.
