Category: Manage Your Money
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What is the Difference Between Interest Rate and APR?
When applying for a loan or any type of business financing, it’s essential for borrowers to understand the components that impact their repayment. Terms like interest rate and APR (annual percentage rate) are often used interchangeably, but they aren’t the same. Knowing the difference can help borrowers make more informed decisions when comparing loan offers.…
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Secured Business Loans: What to Know
When it comes to securing financing for your small business, secured business loans may offer a reliable option. These loans utilize collateral to provide lenders with security, which could make them more accessible for businesses with limited credit history or lower credit scores. Let’s delve into the ins and outs of secured business loans, covering…
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How to Build Business Credit in 7 Steps
For small businesses looking to grow, getting access to the right financing is crucial. Having good business credit makes it easier to qualify for loans and other forms of financing so you can easily access the funds you need to manage emergencies, consolidate debt, pay employees, or invest in new equipment. Building and maintaining strong…
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How to Get an Unsecured Business Loan
Unsecured business loans offer business owners the financing they need without requiring collateral. From purchasing inventory or equipment to hiring staff and acquiring a workspace, an unsecured business loan can facilitate growth and expansion for any small business. While unsecured business loans can be great for providing financing, many small businesses may benefit from an…
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Should I Get a Business Loan or Line of Credit?
Every financial decision for your business is important. Especially if you are thinking of taking on financing, it’s essential that you know with some real certainty that you are getting the right product for your needs. Many small business owners likely find themselves stuck between two popular choices, those being business loans and business lines…
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2024 Small Business Grants, The Ultimate List
2024 has been and continues to be a great year for small business grant opportunities. But with the incredible number of grants available throughout the year, it could be a full-time job in itself to seek out each and every grant your business is eligible for. Consult this master list of grants available for small…
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What is a Business Line of Credit?
Running a small business means being flexible and adapting to change faster than the competition. Every small business owner knows the value of cash flow but are you taking full advantage of what credit, or more specifically, a business line of credit can do for you and your team? Let’s talk through the key points…
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Small Business Grants for Veterans in 2024
Veterans and small business are a natural match and it’s not hard to see why. Running a small business takes personal discipline and an uncommonly strong determination. These are also two very prominent traits of the men and women who serve in the American military. Those veterans who successfully adjust from servicing our nation in…
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How to Check Your Business Credit Score
What’s in your business credit report? Knowing what lenders see when they’re making financing decisions about your business can help you better prepare before applying for credit. Here are a few things to know about your business credit report. Plus, we cover seven websites that offer reports, including five where you can get a free…
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What is a Non-Recourse Commercial Loan
An effective means to expedite a business’s growth is tactical commercial financing. A factor that may dissuade businesses from finalizing a loan agreement, however, is fear of default and the subsequent recourse from lenders. There are actually several types of loans where lenders will agree to not seek recourse after borrower default, which are known…