Until not so long ago, there were many obstacles to refinancing your SBA commercial loan. However, a recent change to the SBA refinance rules gives business owners a unique opportunity to take advantage of historically low, fixed rates. Keep reading to learn more. New SBA Refinance Rules To understand the importance of these changes, it’s…
When it comes to refinancing your commercial loan, understanding some basic financing terms can make things a lot easier. From cash flow to Debt Service Coverage Ration (DSCR), here are five terms you need to know. Cash Flow This term refers to the amount of money moving in and out of your business. Cash comes…
In most cases, refinancing a commercial loan is a smart move because it helps you save money and pay off debt. If you are considering refinancing your loan, here are four tips you should keep in mind. Don’t Rush Into a Refi Deal As we said earlier, refinancing is usually a smart decision. However, this…
From SBA loans to conventional loans, making sense of the world of commercial loans can make your head spin. If you find yourself wondering which type of commercial loan makes sense for you, wonder no more—this quick guide will answer all your questions, and then some. When to Choose an SBA 504 Loan SBA loans…
A business plan is essential to steer your business in the right direction and achieve success. But do you need a business plan to apply for an SBA commercial loan? Keep reading to find out. What Is a Business Plan? First things first, so before delving into the details, let’s define what a business plan…
Women face unique hurdles when it comes to financing and running a business. Keep reading to discover some statistics that paint a precise picture of the challenges businesswomen face, plus some of the best financing tools at their disposal. Business Loans for Women: What You Need to Know Women account for more than half (58%)…
Today we take a closer look at a question as old as trade itself: When is the right time to take out a business loan? Keep reading to discover the answer. When Is the Right Time to Take Out a Business Loan? Conventional wisdom has an answer to the question in the title. The best…
The needs of a business are fluid and evolve constantly. What made sense a couple of months ago may need some adjustments today. Financing is no exception to this rule, as demonstrated by these four compelling reasons to refinance your business loan. Reduced Interest Rates The main reason to refinance your business loan is that…
With the coronavirus pandemic still unfolding, business loans are more important than ever. Companies of all types are facing unique challenges to stay in motion and a business loan can solve many of their problems. From asking the right questions to taking a look at your credit history, there are things you can do to…
Being prepared is always important, but it becomes essential when it comes to taking out a business loan. A good preliminary step is asking yourself questions that cover the most important aspects of the lending process. If you are considering taking out a business loan, think carefully about the following five points. 1.- Do I…
