News

Personal Loan or Car Loan: Which Should You Get?

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Source: The ascent from The Motley Fool

Car loans and personal loans are both term loans, but there are important differences. Find out about car loans vs. personal loans here.

There are lots of different ways to borrow money for big purchases. And for many of us, one of our biggest purchases is a vehicle. If you’re buying a car, you may need to decide whether you should do so using a personal loan or a car loan. While car loans and personal loans have some similarities, there are also important differences between them.

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August 12, 2019 |

Three Tips for Applying for a Small Business Loan

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Source: The Roanoke Times

If you run a small business, you know the worry that comes from financial pressure.

No matter how much planning you did before opening or how careful you are with spending now, expenses just seem to crop up for small businesses. They’re especially stressful when you’re trying to turn even a small profit.

First, rest easy knowing that you’re in good company—many small business owners find they need more cash in the early days to keep things running, or even a few years in as they work to grow. And there are a lot of small business owners, with the majority of United States companies having less than 20 employees, according to the Small Business & Entrepreneurship Council (SBEC).

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July 14, 2019 |

The Best Small Business Loans in 2019

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Source: U.S. News

Small business loans are typically used to start a business, purchase inventory or equipment, purchase real estate, or expand an existing business. According to a report from the National Small Business Association, about three-quarters of small businesses were able to access adequate financing at the end of 2017, including through loans, credit cards, venture capital and crowdfunding.

The NSBA report indicates small business loans are a key component of economic growth for small businesses and their employees. There is a direct correlation between small business financing access and the ability to hire employees., small business bank loans totaled nearly $600 billion in 2015. At the same time, lending from alternative sources such as finance companies and peer-to-peer, or P2P, marketplace lenders amounted to $593 billion.

While small business loans can be difficult to obtain, there are options. In this guide, you’ll learn how small business loans work and how you can find the best loan to start or expand your small business.

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June 11, 2019 |

How To Get A Small Business Loan

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Source: NY Daily News

Getting a small-business loan in this economic climate can be tricky, but it is certainly not impossible with adequate preparation. When they make their decision, lenders will primarily look at your credit history, business plan, education and experience operating the kind of business you want the loan for, as well as the feasibility of the business. This guide will show you what you need to do to get a loan for your small business.

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June 7, 2019 |

6 Ways to Boost Your Credit Score — Fast

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Source: Yahoo Finance

Is your credit score in the doldrums? If you’re in the market for a loan, you need your score to rise – fast.

Good news: You may indeed be able to give your score a quick lift, depending on why it’s sagging in the first place. A large amount of credit card debt, for example, may be more easily and speedily resolved than an account that’s in default.

Here are six ways to elevate your credit score, from those that can produce fast results to ones that require a slow and steady approach. Take a look.

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June 4, 2019 |

PayPal Hits $10B SMB Lending Milestone

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Source: PYMNTS.com

Businesses of a certain size — and in industries as varied as construction and restaurants — know the pain of wondering if they will have enough capital to fund operations, inventory, expansion and other mission-critical business activities. They know the uncertainty of going to traditional financial institutions (FIs), even those rooted in their communities, that might not want to take on the risks or economics of extending smaller lines of credit to small businesses (SMBs), with fortunes that may change and which may find repayment challenging.

So, it’s within that context that PayPal announced new numbers today (May 29) on the impact of its lending business on the small business sector. To date, PayPal has issued more than $10 billion to SMBs through its various PayPal business financing options — a mark that underscores not only the demand for such capital, but how the proper deployment of digital technology can help with underwriting and loan origination for this significant sector of the U.S. and global economy. In a new PYMNTS interview, Karen Webster spoke with PayPal’s VP and Commercial Officer, Global Credit Darrell Esch about the story behind that $10 billion mark, and what’s coming next.

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June 2, 2019 |

Strapped for Cash? Three Modern Ways To Take Out A Small Business Loan

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Source: Entrepreneur

Small businesses can often find themselves strapped for cash. When payroll is due, and accounts receivables are still high, cash is king. Even the most successful small business is susceptible to this type of crunch.

As a four time venture-backed entrepreneur from the Silicon Valley, who has raised a total of $18 million for my tech startups, I’d like to offer some advice to early-stage entrepreneurs in hopes to shed light on alternative avenues to raising money.

Consider diversifying your fundraising strategy by adding non-conventional fundraising options. These days, there are several options for entrepreneurs. Technology and finance are combining to provide creative solutions to help business owners push through monthly bills without the normal headaches.

The reality is new innovative options exist beyond banks for entrepreneurs looking to leverage their strengths while reflecting their modern know-how. Also, the more entrepreneurs diversify financing independence early on, the more power they gain to shape the dynamics with their board later on.

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May 12, 2019 |

Digital Lending Levels The Playing Field For Small Business Borrowers

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Source: Forbes

America’s largest banks have been shrinking their branch networks for the past several years, mostly by cutting back in relatively poor neighborhoods, according to a report in the LA Times. The report said that consumer advocates are warning that the closings risk widening the wealth gap by leaving scores of low-income areas with less competition for banking services such as personal checking and small-business lending.

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March 23, 2019 |

Women entrepreneurs gain ground, but still lack financing…

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Source: Wisconsin State Journal

“Women are the entrepreneurial leaders in Madison.”

That’s what Amy Gannon said, after the Doyenne Group’s 5X5X5 pitch contest on Wednesday — part of the eight-day Forward Festival celebrating entrepreneurship and innovation.

But at least two female CEOs in Madison say in the larger scheme of things, women entrepreneurs still have a lot of ground to make up — particularly, women of color.

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August 26, 2018 |
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