Small business loans can be complex and confusing. Let us inform and guide you about what’s hidden in the fine print of your loan agreement , should you sign a personal guarantee and the average APR for small business loans in 2018.
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Since there are different types of small business loans there is not just one average interest rate, there is a range of rates. Interest rates vary depending upon the type of small business loan, installment or business lines of credit. Taking into account variances due to region, industry and credit ratings here are the average […]
During the following year, 61 percent of small business owners expect to expand their companies. For many which will mean they’ll be looking for funding. What might surprise them is that they might be asked to sign a personal guarantee to secure funding. Below are seven things that you want to understand about personal guarantees. […]
The American Bar Association claims loan arrangements seldom favor borrowers. Typically, they need to contend with limitations and covenants, which provide lenders with a lot of rights. Read my review of Legalzoom for small business and get a promo code to save on all legal services The method of surviving these constraints is by negotiating significant […]
Most entrepreneurs don’t have collateral or do not want to secure their business loans with their personal assets such as their home or savings accounts. Many small business loans such as those guaranteed by the SBA Small Business Administration require borrowers to pledge their personal collateral. This often stops many would be new business owners. Have […]
In 2017 if your small business needs a loan it can be difficult to find the right lender, whether to apply to a traditional bank or an alternative finance lender, and the particular type of loan to submit an application. I have researched the business credit market and spoken with many small business financing experts, […]
A Road Map for SBA Loans Here are the most frequently asked questions about how to get SBA Small Business Administration loans for your company. Come back often because new answers are added regularly. Are SBA Loans Tax Deductible? Different tax rules apply to the interest paid on SBA loans for businesses. Whereas personal loans […]