The short answer is yes, you can get an SBA loan with bad credit. However, like most business funding, it’s not really that simple. The SBA doesn’t really set a minimum personal credit score for small business loan funding qualification. However, they do set a minimum FICO SBSS business credit score of 140 for business loans. You are more likely…
It’s a new year. Whether you have a new business or you have been running your business for a while, these tips will help make sure you have a business setup for success in 2023 and beyond. Why Does Your Business Setup Matter? The way you set your business up affects its fundability. It cannot be fundable if it is…
Starting a business involves planning, making key financial decisions, and completing a series of 1. Conduct market research Market research will tell you if there’s an opportunity to turn your idea into a successful business. It’s a way to gather information about potential customers and businesses already operating in your area. Use that information to find a competitive advantage for…
Small businesses are the backbone of the United States economy, making up 99.9% of all businesses in 2022. However, they’re also subject to unique challenges, such as limited resources and lack of capital, causing 20% of small businesses to fail within the first year. As a small business owner, how do you avoid this fate? What if there was an…
Starting a small business is a big deal. There is a lot that goes into it, and if you aren’t careful, something will get missed. That’s why having a business startup checklist when you start a business is so important. Here are some tips for your starting a business checklist. You have to be sure you set your small business…
It’s probably a question you’ve asked at least once: Do I need small business insurance? And the answer is nearly always going to be “yes”. If you’re working from home, your homeowners insurance might not cover equipment breakdown, or what happens if you’re out of commission for an extended period. It likely won’t cover if customers come to your home…
Looking For Business Funding Sources? Isn’t everyone? There are many sources who offer business funding today. Knowing the different sources will help you find the best funding options for your business. Business funding sources are out there. Remember, most of these funding sources you can access right through your funding suite with us. So reach out to me to receive…
Building credit for business purposes can seem like an unbreakable barrier. You need to get accounts reporting on-time payments to at least one credit reporting agency to build a strong business credit score. Yet, credit providers want to see a strong business credit score before they will approve you for a credit account. If you know the secret formula you…
The fastest business loans out there are typically the ones with the least risk to the lender. As a result, terms and rates may not be awesome, and security is often necessary. Still, if you need funds fast, there are options. You just have to figure out which ones will work best for you. Fastest Business Loans: Why The Need…
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