5 Things Business Loan Underwriters Are Looking For

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Most small businesses will need a loan at some point. Whether they need to get things off the ground or expand, financial backing is essential. Getting approved for the loan, isn’t always so easy however. Underwriters can get picky about who they lend their coins to, but the feat is not impossible. Here’s what to consider so you get approved. Continue reading “5 Things Business Loan Underwriters Are Looking For”

Should I use a line of credit for business working capital?

Getting caught in a cash flow crunch is an all-too-common headache for even the most successful small business owners. It’s the reason why 29% of startups fail, the second most common cause behind “no market for the product,” according to research by CB Insights. Even profitable small businesses that don’t have a substantial cash cushion can meet this unfortunate fate.

There are multiple options for averting a cash crisis, but all are definitely not equal. For example, it’s tempting for owners to whip out a business credit card (or even a personal card) for a cash advance or to cover an unexpected expense. Viewed as a very short-term boost, the quick credit card solution comes with earnest plans to pay it off just as quick, in a month or two, max.

Continue reading “Should I use a line of credit for business working capital?”