Small businesses seeking capital to expand their operations are finding better results asking institutional lenders than any other type of bank. According to the Biz2Credit Small Business Lending Index, small business loan approval rates at institutional lenders hit a new high last month.
There are plenty of tips on how to score a small business loan from a traditional lender, like a bank or credit union. But more loans are being granted outside the banks. Here's how to find a loan from a peer-to-peer or online lender.
What a difference four years makes. Between June 2011 and June 2015, small business lending at big banks went from it's lowest ebb to its current record high. Unfortunately, the same can not be said for all lending institutions as we shall see.
Your business credit score could ultimately determine the fate of your operations. And a good business credit score starts with knowing the basics: What makes it go up and what makes it go down? Check out this primer on the differences between personal and business credit scores and the importance of each.
Do you think your small business won't qualify for a loan from the bank? Adhere to these six Cs to give yourself a better chance at securing a small business loan.
There was a time when small businesses could rely on bank loans for affordable finance. Then along came the Great Recession. And small businesses turned to higher interest options. One way to lower these rates is to refinance small business debt with a lower-rate business term loan.
In a short time, online business lending has transformed from a new and cutting edge approach to business financing into a popular alternative to more traditional forms of borrowing, You owe it to your business to learn more.
What kind of lender should small businesses go to for a better shot at having their loans approved? Would you be surprised that the answer might be big banks with assets of $10 billion or more -- or how about an institutional lender?
Two popular small business services have joined forces to create a brand new option. The new platform will offer online small business loans to a community six million customers strong.
A bank is willing to give your business a loan. It sounds great but it's important to consider: Can your business actually afford this loan?