Business Loans

What Are The Disadvantages Of Credit Unions (Pros And Cons Of Credit Unions)

Credit Unions are not-for-profit organizations. They are member-owned and were set up for those who share certain aspects in common such as working in the same industry or living in the same neighborhood. Members of credit unions have access to the same services and products you would expect to find at a bank. These include …

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Does A Business Loan Count As Income (Is A Business Loan Considered Taxable Income)

The world of business loans and tax can often be quite stressful, especially if you are new to this environment. Suddenly, there are lots of different things that you have to pay for, and lots of different financial decisions that you need to make. This means that when you first take out a business loan, …

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Can An LLC Borrow Money From A Bank (Ways To Finance Your Limited Liability Company)

Starting a limited company is a great step towards financial freedom. There are lots of benefits to owning your own company, but in the early days, raising enough funds can be challenging. Getting a loan may be the only way to kick-start your business by giving it an injection of cash. Bank loans are a good …

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Can I Use SBA EIDL Loan To Pay Off Debt (What Can I Spend My EIDL Loan On?)

Everyone knows how great SBA loans, with their easy payback system, but if your business has been affected by the pandemic, as so many businesses have, is the EIDL loan (Economic Injury Disaster Loan) going to help you to send any moneys owed to your debtors?Just like with personal credit, your business, if it’s to …

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How Do I Qualify For A VA Business Loan? (VA Business Loan Requirements For SBA Programs)

According to information from the Small Business Association (SBA), around 1 in 10 military service veterans are self-employed. Those veterans that run their own businesses are responsible for employing up to 6 million people nationwide.  If you’re a military service veteran looking to start a new business or expand an existing one, there are business …

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Can I Use SBA Disaster Loan To Pay Myself (How You Can And Cannot Use Your Eidl Loan)

The Economic Injury Disaster Loan (EIDL) is a federal small business loan program made to support small businesses’ recovery from the economic downturn caused by the COVID-19 pandemic. It does this by providing accessible and borrower-friendly capital. As of February 12, 2021, over $200 billion in Economic Injury Disaster Loans (EIDLs) were approved by the …

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Can You Get An SBA Disaster Loan With Bad Credit? (Do You Qualify For An SBA Disaster Loan?)

There is always a risk of loss of revenue in the case of a disaster. Such loss of revenue can seriously affect a business of any size and even kill it off completely. With such narrow margins, emergency savings may not be able to help beyond the short term. In response to such risks to businesses, …

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