Construction businesses often face cash flow challenges due to costly overhead expenses—think labor, materials, equipment, and insurance.

The Federal Reserve has announced that interest rate cuts are on the horizon in Q4 2024. What does this means for small business credit rates?

As a manufacturer, you need access to capital to keep your business running smoothly. But should you get a term loan or line of credit? Understanding the key differences will help you determine the best financing option.

Loans vs. Credit Lines: Financing Options for Dental Practices

For dental practices, having access to financing is crucial for managing cash flow and seizing opportunities when they arise. One of the most useful financing tools for dentists is a business line of credit. Here's an overview of how lines of credit work and why they can be so valuable for dental practices.

The Small Business Optimism Index experienced a decline of 0.8 points in March, reaching a value of 90.1. This marks the 15th consecutive month that the index has remained below the 49-year average of 98. According to the National Federation of Independent Business (NFIB), small business owners continue to face challenges, with inflation being a significant concern for 24% of them. Additionally, there is a prevailing pessimism about future economic conditions, as indicated by the net negative 47% of small business owners who expect improved business conditions in the next six months.

In the world of business financing, lines of credit are a popular tool in the construction industry for accessing funds to support growth, cover expenses, and seize opportunities. When it comes to lines of credit, two main options stand out: secured and unsecured.

When it comes to working capital for the construction businesses, loans usually don't cut it because of the way the debt product is structured. With a Term Loan, the money only gets used once and once funds are depleted, there is no more availability to access funds. Whereas with a line of credit, money can be constantly drawn and repaid as receivables come in and expenses are paid out.

From my experience over the years providing millions of dollars in credit facilities to construction companies across the United States, I know that there are few industries that can benefit more from affordable access to capital than construction.

Applying for a Small Business Administration (SBA) loan can be a daunting process, but it is well worth the effort for business owners who need extra capital. The SBA provides financing to start or expand small businesses, and the loan terms are more favorable than those of other lenders. To apply for an SBA loan, you will need to meet certain criteria and provide the necessary documentation and information.

If you’re interested in applying for a Small Business Administration (SBA) loan, you may be wondering what credit score you need in order to qualify. The short answer is that there is no single, universal credit score requirement for qualifying for an SBA loan; credit scores are just one of the many factors lenders consider when evaluating a loan application.

SBA Express Loans are the quickest type of funding offered by the Small Business Administration (SBA). They offer small businesses with the chance to access capital quickly and easily, allowing them to make necessary investments, expand operations, and more.

To borrow money, or not to borrow money? It's an important question and, if we're being honest, there really isn't an easy answer. It totally depends on your unique situation.

Business owners experience a lot of relationships. Some of them have been very successful, while others were rough. There’s actually a famous saying in the business world regarding relationships and friends. People say, “You have no friends in business.” Today, I am here to tell you this is a complete lie and who you need to befriend. Their name is ‘Business Loan’ and they can be one of the greatest things to happen to your company.

Are you ready to improve your small business? There's no better time than now! 2022 could be a banner year for you as an entrepreneur. You just need to follow the eight tips outlined in this blog post. Keep reading to discover how you can make 2022 your best year yet.

Applying for a business line of credit is a big step and there's a lot of information on the internet about the process — some good, some not so good. We're here to cut through the noise and tell you exactly what you need to do to qualify for small business financing.

Have you thought about applying for a small business line of credit? Maybe you’re in the process of sending in applications right now. Before you do anything else, read this blog post! We’ll discuss the six questions you need to answer for yourself before applying.