Author: Vince Calio
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How a Line of Credit Works for a Small Business
Various financing products can help small businesses with specific needs, but few of them are as versatile as a business line of credit. Some of the terms of a line of credit can be confusing, however, so knowing how they work will be key to maximizing its use to benefit your small business and evaluating…
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Small Business Financing to Cover Payroll
One of the most important resources you have as a small business owner is your employees, and therefore, one of the most important expenses you have is your ability to meet payroll. What happens, however, when your business hits a slow period or your cash flow is uneven? You don’t want to find yourself in…
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How to Use a Business Loan to Hire Employees
One of the most exciting times for any small business is when it has the opportunity to grow – be it from better-than-expected sales; the development of a new product or service; or physical expansion such as getting a bigger space or a second location. Business growth, however, usually requires the hiring of additional staff,…
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Using Business Loans to Cover Your Taxes
As a small business owner, you may run into a crisis every now and then, and one of those crises could be a surprise tax bill. This situation may arise if you didn’t file your quarterly taxes properly or you spent a long period of time charging incorrect sales tax rates. Figuring out how much…
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Small Business Loan Application Checklist
Applying for a small business loan can be a tricky process, as there are several requirements you need to meet in order to obtain one. Those requirements can be confusing, as lenders require everything from business licenses and cash flow history to business plans and personal financial statements. Whether you are applying for a business…
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Getting a Business Loan with Bad Credit
Most of us have faced financial hardship at some point that resulted in some missed debt payments, defaults or charge-offs, and this has negatively impacted our credit scores. After all, life has its ups and downs, especially when it comes to our finances. For small business owners who find themselves in this situation, one of…
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Traditional Bank vs. Alternative Lender
Which is Best for Your Small Business? The one ingredient every small business needs is capital – capital to grow, even out cash flow, and meet short-term expenses. The question of where you go to get a business loan, however, can be confusing, especially when it comes to choosing the type of lender. When it…
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Understanding Business Loan Requirements
Looking to get your first small business loan? It can be a confusing process, especially when it comes to understanding the qualifications you’ll need to meet and why lenders have these requirements for a business loan. Both traditional banks and alternative lenders will judge your worthiness for a loan based on a specific set of…
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Types of Small Business Loans and How to Choose One
If you’re ready to take on a loan or any other type of financing for your small business, you should give yourself a pat on the back. That usually means that your business has grown to the point where you’re ready to take on additional growth opportunities or you just need funding to keep your…
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Declined for a Business Loan? Take These Next Steps
Life is a process of trials and errors, and there’s probably no one for whom that statement rings more true than a small business owner. This statement especially applies when small business owners apply for loans to gain much-needed capital to ensure their businesses grow or to smooth out their cash flows. What if, however,…