All Posts in "financing options for small businesses"

Financing Options For a Growing Business

The financing options for a growing business are many. There are traditional loans, like SBA loans, personal credit cards and even crowdfunding platforms. There are also less traditional methods like partnering with lenders and applying for grants, tax credits, and rebates.

Small Business Administration loans

The Small Business Administration (SBA) offers loans to businesses that have a high probability of success. These loans can be used for many different purposes, including:

  • Starting or expanding your business
  • Purchasing machinery, equipment and real estate
  • Refinancing debt with lower interest rates and longer repayment terms than conventional bank loans

Personal credit cards

If you decide to use a personal credit card to finance your business, be sure that you are clear on what’s a business expense and what’s not. You should also consider the interest rate of the card and how much it will cost you in total over time.

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Harvey Olsen by — May 20, 2023 in Company Business
Financing Options For Your Small Business

If you’re opening a small business, you’ve probably realized that there are a lot of expenses to consider. You might need to buy equipment, hire employees, or even rent office space. These costs can add up very quickly, so it’s important to plan ahead and make sure that your business is financially prepared for the future. Luckily, there are several financing options available for small businesses—and each one comes with its own advantages and disadvantages. If you’re considering applying for a loan or line of credit from your bank in order to fund your operations and growth, here’s what you should know about each option:

Business loans

Business loans are the most traditional financing option for small businesses. They are usually long term, require collateral and have low interest rates. Business loans are used to fund large purchases or funding gaps in your business plan.

Lines of credit

A line … More >>>

Harvey Olsen by — May 3, 2023 in Company Business