How to Get a Business Line of Credit, Part 2: Acquiring Capital
In part one of this series, we discussed how to evaluate a prospective business line of credit deal. Next, we’ll discuss how to put together a strategy to obtain an unsecured business line of credit...
View ArticleSmall Business Loan: Borrowing From Your 401K for Your Business? Beware
By Carol Tice Using your retirement account to start a business has been a popular funding method in recent decades. New franchisees in particular often fund that first store with their IRA or 401(k)...
View Article6 Resources for Women Business Owners Seeking Working Capital
Women have come a long way in business, but in one area — finance — they still face many challenges. Old-school bankers can still be prejudiced or just plain ignorant of womens’ business acumen and […]...
View ArticleWhy Venture-Capital Funding for Small Business Financing Shrank in ’10
If you’re a startup business owner who’s been hoping to land some venture-capital investors to fund your growth and small business financing , think again. The figures are starting to come in for...
View ArticleThe 5 Biggest Mistakes Business Owners Make on Small Business Loan Applications
In our work at LenCred, we work with a lot of small business owners who’ve struck out in trying to get a bank loan. There are some basic mistakes owners make in their loan application […] The post The...
View ArticleThe Right Way for Small Business Owners to Borrow Money
When entrepreneurs look for money for their startup or growing small business, I’ve learned there’s a right way and a wrong way to go about it. Some companies borrow at the wrong time, or for […] The...
View ArticleSmall Business Financing: 8 Ways Merchant Loans are Different from Bank Loans
One of the biggest problems small businesses have when they seek small business financing is that they don’t know all the options. In my experience working with hundreds of business owners seeking...
View ArticleSmall Business Financing: Should you be Building Business Credit?
We get this question a lot. Should we be building business credit for our company? Let’s talk about that. First, I want to tell you that I do think most people should build their companies […] The...
View ArticleSmall Business Loans Done the RIGHT Way!
Have you ever thought about this question, “are you borrowing money the right way as you start, build, or grow your business?” In other words, do you know what you should and shouldn’t be doing […]...
View ArticleCredit Score “The Most Valuable Personal Asset That You Have”
By Sean Mory So before I put this blog together I decided what else is out there about “Credit Scores” and what I found was a scary amount of inaccuracies with some very accurate articles […] The post...
View ArticleWhy Interest Rates Are Not the Most Important Factor in Your Small Business Loan
People who are new to business lending often think like consumers when they look for a small business loan, or business lines of credit. That is, they shop interest rates and basically make their...
View ArticleWhy Can’t I Get a Small Business Loan on My Own?
Sometimes, as we work with business owners here at LenCred and go over their borrowing options, I’ll get this question: “Well, can’t I just go out and get a loan myself?” The answer is yes — of […] The...
View ArticleSmall Business Financing Credit Advice…
Be careful where you get your credit advice from. I read this today 7 ways to boost your credit score. I’m sure it’s well-intended but the first item suggests getting your FICO score. I like […] The...
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