Securing financing for a small business can be a difficult task. Banks reject roughly 80 percent of small business loan applications, leaving applicants searching for other options. While the strict standards put in place by traditional banks and credit unions regarding business owners’ creditworthiness and ability to repay loans are intended to minimize risk, they […]

Good news: On September 7th, 2021, the U.S. Small Business Administration announced the COVID EIDL cap will increase from $500,000 to $2,000,000.  Even more, the cap for a single corporation will increase to $10.0 million. Though you can apply for a COVID EIDL loan of more than $500k today, any decisions on funding will occur […]

What’s Holding Up Restaurant Revitalization Fund Disbursement for Small Businesses

What’s Holding Up Restaurant Revitalization Fund Disbursement for Small Businesses

Throughout the pandemic, small businesses have had a difficult time staying afloat. Emergency COVID-19 assistance funds have been a saving grace for some. Unfortunately, for those that haven’t been able to secure funds, the past year-and-a-half has left them wondering when and if the U.S. government will provide them with additional assistance. The future of […]

How to Stay Up to Date on Available Loans and Grants

How to Stay Up to Date on Available Loans and Grants

As a business owner, it’s important to know the resources available that best support your business. In the wake of the pandemic, loans and grants have been a lifeline for businesses more than ever. For small businesses, the competition for resources and relief programs can be challenging, so it’s critical to be prepared to apply […]

Getting A Loan: What Small Business Should Know

Getting A Loan: What Small Business Should Know

When it comes to funding your business, you have many financing options. If you’ve decided that borrowing money from a lender needs to be a part of your funding plan, there are many things you can do to increase your chances of getting the best possible loan, including different kinds of research, some careful planning, […]

SBA, MCA, or Conventional Lending: What’s Right for You?

SBA, MCA, or Conventional Lending: What’s Right for You?

You have an array of funding options to choose from if you’re looking for financing for your business. When deciding what type of financing is best, it’s essential to identify your needs and compare loan and product options. Familiarizing yourself with the products available is key to your financial future; you need to gather correct […]

How to Raise Your Credit Score Before Applying for a Loan

How to Raise Your Credit Score Before Applying for a Loan

As you look to the future for your business, needing additional funding for expansion, growth, or remodeling means you’ll need to apply for a loan. Since your credit score will affect your ability to get a loan and your interest rate, it’s essential to make sure it’s at a certain level. According to a poll […]

How Business Owners Can Best Work with Lending Partners

How Business Owners Can Best Work with Lending Partners

Whether you’re just starting your first business, or you’re getting ready to invest more into your current business, there will inevitably come a time when you need a loan. The easier it is for you to work with your lender and the smoother your application process goes, the easier it will be to find the […]