Easy Small Business Loans

Sourcing for a loan to start a new business or expand an existing business has never been easier. If you’re searching for small business loans, and have struck out at your local banks and credit unions, there are quite a number of online lenders for the best small business financing.

CAUTION: I AM NOT IN ANYWAY AFFILIATED TO THESE COMPANIES. DO YOUR HOME WORK BEFORE YOU PROCEED

 

  

Though some loans may attract very little interest rates and may be repayable over long periods of time, taking loans to finance your business is a risk.
And it is very important that you analyze the risk in taking a loan to figure out whether taking a loan would be a right step for you.

How To Get Loan For Small Business

The better economic conditions of 2016 and a big increase in competition mean lenders are willing to slash their rates for good prospects. Unfortunately, that doesn’t mean it’s easy to obtain a small business loan from traditional banks. You should still try — you’ll usually receive a lower interest rate if you can qualify. But if you’re like the majority of small businesses, you may come up empty.
The good news is that a number of online lenders are giving banks a run for their money (and clients) by working directly with small business owners. In many cases, they make the lending process more convenient, with quicker turnaround, more transparent terms, and more flexible lending criteria. But be aware that you’ll likely be getting a higher APR.


Apply For Small Business Loan / Small Business Loan Application
Banks and other loan-issuing agencies need to verify all the credentials and details about your business before approving a loan. Most importantly, they need to ascertain that you are really capable of paying back the loan along with the accompanying interest. All these explain why the loan application process and review always take a long time.

Small Business Loan Information And Looking For Small Business Loan

Banks and other institutional creditors have a long list of conditions that your business must fulfill before they can take a loan. Trying to meet these conditions (for example, trying to provide certain business details and documents) is always cumbersome. In fact, most of these conditions, from the entrepreneur’s perspective, are totally unnecessary. And sometimes, it is not possible to meet all of them. This is one of the commonest reasons why entrepreneurs don’t bother giving loan applications a shot. 

Find Business Loans And Small Business Loan Banks


Traditional brick-and-mortar banks are still your best option for borrowing the largest amount of money at the lowest interest rates. They may also offer longer repayment terms if you need them.
Sounds great, but these loans require a lot of collateral and can be notoriously hard to secure. Even though small business lending has rebounded this year, the nation’s largest banks were still approving only 20.8% of request as at 2014.
Application and approval can also be daunting — you’ll need to complete a slew of paperwork, put up to 30% down, and possibly wait a few months to see any money.

 Fast Small Business Loans And High Risk Business Loans
Many credit unions are issuing small business loans, and they’re approving requests at twice the rate of big banks. Rates are competitive and sometimes lower since credit unions are nonprofits with less overhead.
You’ll need to be a member, though requirements are often as simple as living in a specific area. Note that though credit unions may be more flexible than big banks, they still primarily lend to established businesses. 

 Small Business Loan Lenders And Short Term Business Loans

Business line of credit: Only in California
  
 Best Peer-to-Peer Small Business Loans Banks

 Peer to Peer lending directly connects borrows with several investors who typically fund small chunks of a diversified loan portfolio. While this option might not be the best low interest business loan opportunity, lending criteria is usually less stringent than it is at traditional brick-and-mortar banks.


Lending Club: Is the nation’s largest peer-to-peer lender, began making small business loans — a separate program from their main product, in March 2014. You must have owned the business for at least two years and have at least $75,000 in annual revenue. Borrowers can request $15,000 to $300,000 and pay back the loans under flexible terms ranging from one to five years. The interest rates, ranging from 5.99% to 35.89%* APR. Best APR is available to borrowers with excellent credit. These rates are clearly disclosed and among the most competitive. There are a range of fees to know about: Lending Club charges an origination fee of roughly 1% to 6%, and there are $15 fees for unsuccessful payments and payments by check. Late payments will cost you $15 or 5% of your outstanding balance, whichever is    greater.
It's good for any relatively established small business that wants flexible repayment terms (options range from one to five years) from one of the nation’s largest, most established peer-to-peer lenders.
Who should pass: Very new or small businesses probably won’t qualify with Lending Club, and residents of Iowa and West Virginia aren’t eligible to borrow. And if you need cash fast, note that it can take up to two weeks for your loan to be funded.


Funding Circle:  Is a peer-to-peer lending behemoth from the United Kingdom, is dedicated solely to small business financing. It launched in the U.S. in 2013 and will make loans from $25,000 up to a hefty $500,000 at rates from 5.49% to 27.79%. Terms are flexible and range from one to five years.
There are only two fees: a flat origination fee ranging from 1.49% to 4.99%, and a flat late payment fee equivalent to 10% of the missed payment. Funding Circle requires annual revenue of more than $150,000 and at least two years in business (one of which must have been profitable). Both business and personal tax returns as well as business bank statements are required to apply (even more documentation is required for loans over $300,000).
Who it’s good for: An established business that needs to borrow a larger sum up to $500,000. Residents of all U.S. states except Nevada are eligible, and Funding Circle is a particularly good pick for businesses that want to keep fees minimal and easy to understand.
Who should pass: Funding Circle requires $150,000 in annual revenue, so newer businesses may have to look elsewhere. And while the company says its online application takes just 10 minutes, gathering the required paperwork can prove time-consuming. Also note that the late payment fee (10% of your missed payment) is pretty high.

Prosper is similar to Lending Club, but it doesn’t have separate loans for small businesses. However, you can use its unsecured personal loans for small business purposes. This can make Prosper a good choice if you need a smaller amount (you can borrow up to $35,000) and your business doesn’t have the established track record to qualify for dedicated small business loans.
APRs range from 5.99% to 32.99%. It can take up to two weeks for your loan to be funded, and you can choose only a three- or five-year term.
Who it’s good for: Prosper would work best for a newer small business that needs a smaller amount ($35,000 or less) that doesn’t have the revenue or longevity to qualify for a dedicated small business loan. As one of the nation’s biggest peer-to-peer lenders, it’s a good pick for someone who’s nervous about getting a loan online.
   

Online Business Finance

 Online Business Finance Courses

Below are some commonly offered business finance courses available to online students.

• Investment Fundamentals: This course offers an introduction to security analysis and valuation. The course focuses on how to make sound investment decisions by exploring the nature of equity and fixed income securities, trading mechanics and costs of trading. Students also learn how securities markets operate and gain an understanding of concepts such as the relationship between risk and return, the value of portfolio diversification and valuation.
• Fundamentals of Business Analysis: In this course, students gain a basic understanding of the functions and business impact of business analysts. In this class, students learn how business analysis functions relate to the development of information technology solutions. Other course topics covered include gathering and documenting user requirements, modeling business cash flows, business case analysis and process modeling.
• Finance for Business: This course introduces students to the essential elements of business finance. Emphasis is placed on financial management, financial markets and the tools, techniques and methodologies used in making financial decisions. Major topics studied include financial planning, working capital management, capital budgeting and long-term financing.
• Finance for Non-Financial Managers: This course is for those professionals who have been assigned financial and budgeting responsibilities, as well as for those who work with accounting and finance department personnel. Specific topics studied include financial analysis planning, forecasting, budgeting and cash flow techniques.
• Strategic Management: In this course students will learn how to best implement business management techniques to excel in the global market. The course will help students to think critically about the influence of technology, political policy and the global economy on business strategy development. Case studies will enhance student understanding of possible methods and outcomes.

business line of credit

Business line of credit

A business line of credit is quite similar to personal lines of credit. The financial institution grants access to a specific amount of financing. However, no interest is incurred until the funds are tapped into. A business
line of credit can be unsecured or secured (typically, by inventory, receivables or other collateral). Lines of credit are often referred to as revolving and can be tapped into repeatedly. For instance, if there is access to a $60,000 line of credit and $30,000 is taken out, access to the remaining $30,000, if necessary, remains. If all $30,000 is paid back, there is access to the entire $60,000 without having to reapply, one of the biggest benefits of a line of credit.

 A line of credit is credit source extended to a government, business or individual by a bank or other finincial institutions. A line of credit may take several forms, such as overdraft protection, demand loan special purpose, export packing credit, term loan, discounting, purchase of commercial bills, traditional revolving credit card account, etc. It is effectively a source of funds that can readily be tapped at the borrower's discretion. Interest is paid only on money actually withdrawn. (However, the borrower may be required to pay an unused line fee, often an annualized percentage fee on the money not withdrawn.) Lines of credit can be secured by collateral or may be unsecured.

Lines of credit are often extended by banks, financial institutions and other licensed consumer lenders to creditworthy customers (though certain special-purpose lines of credit may not have creditworthiness requirements) to address liquidity problems; such a line of credit is often called a personal line of credit. The term is also used to mean the credit limit of a customer, that is, the maximum amount of credit a customer is allowed.

Cash credit

A cash credit is a short-term cash loan to a company. A bank provides this type of funding, but only after the required security is given to secure the loan. Once a security for repayment has been given, the business that receives the loan can continuously draw from the bank up to a certain specified amount.

The Role Of Business Finance

The Role Of Business Finance Small and medium-sized businesses play a key role in the development of any economy, employing almost 60% of the private sector workforce and accounting for almost half of all private sector turnover. Their continuing success is vital to building the economy of any nation. Being able to access the right type of finance at the right time allows these businesses to invest, grow and create jobs. A good understanding of the options available is an essential starting point and enables businesses to select the type of finance that is right for their circumstances and plans. Businesses are, in effect, investment agencies or intermediaries. This is to say that their role is to raise money from members of the public, and from other investors, and to invest it. Usually, money will be obtained from the owners of the business (the shareholders) and from long-term lenders, with some short-term finance being provided by banks (perhaps in the form of overdrafts), by other financial institutions and by other businesses being prepared to supply goods or services on credit (trade payables (or trade creditors)). Businesses typically invest in real assets such as land, buildings, plant and inventories (or stock), though they may also invest in financial assets, including making loans to, and buying shares in, other businesses. People are employed to manage the investments, that is, to do all those things necessary to create and sell the goods and services in the provision of which the business is engaged. Surpluses remaining after meeting the costs of operating the business – wages, raw material costs, and so forth – accrue to the investors. Of crucial importance to the business will be decisions about the types and quantity of finance to raise, and the choice of investments to be made. Business finance is the study of how these financing and investment decisions should be made in theory, and how they are made in practice.