Any business owner has at least two alternatives when faced with an expense: business loans or credit cards. With that in mind, in today’s post, we go through the pros and cons of each alternative. Business Loans vs Business Credit Cards If you are wondering which is the best option between business loans and credit…
Due to a combination of factors, businesses are finding it increasingly difficult to navigate the current economic landscape. In this post, we explore the causes behind this phenomenon and show you how Gellyfish Commercial can help your business. A Complex Landscape From the pandemic to a global supply chain crisis, businesses are facing unique challenges…
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…
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…
Gathering all the necessary documents is an essential step in securing any type of loan. If you are among those wondering what documents do you need for a business loan, keep reading to find a list of documents you may need, as well as some tips to help you throughout the process. What Documents Do…
7(a) loans are one of the SBA’s flagship loan programs, but that doesn’t mean that everyone understands them. On the contrary, questions about 7(a) loans abound—that’s why we decided to answer some of them. What Are 7(a) Loans? The 7(a)-loan program is the SBA’s most common loan program. These loans are geared to small businesses…
Applying for a business loan requires a diligent approach because certain mistakes can slow down or halt the application process. Fortunately, many of those mistakes are avoidable. Watch out for these common pitfalls to make the application process smoother and less stressful. 1. Having No Business Plan Before applying for a business loan, you must have…
