Alternative Business Funding vs. Traditional Bank Financing

David NayorSmall Business Lending

Most business owners and entrepreneurs need funding to operate. Whether, as a start up,  that money is needed for the initial equipment and business space, or it goes toward growing an established business, the financing has to come from somewhere, and the amount needed is usually greater than personal credit cards will allow. In these cases, the small business owner … Read More

Benefits of Using a Merchant Cash Advance for Your Business

David NayorSmall Business Lending

If you own a small business you have probably heard of a merchant cash advance (MCA) before. A tough economy, coupled with strict stipulations and loan parameters that have been set by traditional lenders, has led to an increase in popularity for this kind of alternative funding. You may be wondering how to decide if an MCA is right for … Read More

Business Loan Options For Poor Credit Applicants

David NayorSmall Business Lending

Starting a business can be very exciting. It can, however, also be daunting, especially when bad credit is an issue. But do not be discouraged: there are some routes to obtaining business loans for poor credit applicants that can reduce the difficulty of getting started. Financial institutions may offer various business loan options specifically for borrowers with poor credit.   … Read More

Technology Is Shaking Up Small Business Lending

David NayorSmall Business Lending

Karen Mills, former SBA Administrator, recently published a series of articles based on her report with Brayden McCarthy entitled: “State of Small Business Lending: Credit Access During the Recovery and How Technology May Change the Game.” The paper discusses the tight, post-recession credit market currently facing small business borrowers and how alternative online lending platforms are beginning to bridge this … Read More

‘Must-Knows’ for Upgrading and Expanding Your Restaurant Business

Bob TannenhauserSmall Business Lending

Remodelings, additions and expansions are common occurrences for restaurants and could ultimately determine if a restaurant survives or shuts its doors. Financing any of these upgrades is often troublesome even for a long standing restaurant business. Thriving establishments with no prior issues borrowing money are frequently turned down for restaurant loans due to the high failure rate within the restaurant … Read More

Am I Fundable? How Your Business Credit Score Affects Your Fundability

David NayorSmall Business Lending

Similar to consumer credit scores, small businesses also have credit scores. In a like manner, a small business credit score furnishes lenders with fast, objective measurements of credit risks. The Small Business Scoring Service (SBSS) has made significant improvements to the business financial scoring process. Now a major benefit of utilizing the SBSS is accelerating the funding process by allowing … Read More

Start-Up Small Business Loans & Business Loans Under $150K Increase

David NayorSmall Business Lending

  Small business loans for start-up businesses under the SBA’s 7a loan program, increased to 8,320 for the seven month period ending April 30, 2014 according to the U.S. Small Business Administration. This represents an approximate 5% increase over the same period last year.  These start-up loans represented approximately 31% of the business loans approved during this period. The emphasis … Read More

5 Steps To Startup Success For Your Business

Bob TannenhauserSmall Business Lending

 Starting a new business is difficult. Many businesses fail early, so startup success is important. There are a few steps you can take to make any business startup a success. By: Bob Tannenhauser   1. Write a Business Plan Writing a business plan helps business startups solidify what they are really trying to accomplish. It allows you to state exactly … Read More

Small Business Lending Increases as Lending Standards Ease

Bob TannenhauserSmall Business Lending

Both the number and dollar amount of small business loans increased in the fourth quarter of 2013 for the first time in fifteen quarters according to the SBA Office of Advocacy.  Small business loans under $1 million increased by 0.4% during the quarter, up from a 1% decline in the previous quarter. Commercial and industrial loans (C&I loans) and Commercial … Read More