Business Loans

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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Why Was My SBA Loan Approved Then Denied? (Why And What To Do Next)

Applying for any loan can be a long and arduous process. Once the paperwork has been filled out, you just have to sit back and wait for the result. Unfortunately, we don’t all get the result we were hoping for. Being denied a loan can be confusing, especially when you don’t know why you have …

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How Long Does The SBA Have To Approve PPP Forgiveness (Guide To The SBA PPP Loan Forgiveness)

When the coronavirus pandemic hit in 2020, it caused a lot of panic for business owners. Suddenly, they weren’t able to operate in the way that they had been, and a lot of companies didn’t know how they would be able to survive.  Thankfully, the US Government announced a new loan scheme that would support businesses …

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Are You Personally Liable For An SBA Loan (Do SBA Loans Require A Personal Guarantee)

Most small businesses will require funding, especially during the start-up stage. Whilst some small businesses will have access to wealthy entrepreneurs and investors, others will require an SBA loan.Partially guaranteed by the US Small Business Administration, an SBA loan refers to a small business loan that is administered by a lender, in most cases, this …

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What Is The Minimum Credit Score For EIDL Loans (Underwriting Criteria For EIDL Loans)

If you run a small business, then you will probably be familiar with the SBA and the wealth of loans that this Government agency offers. The SBA was set up in the 1950s to support small businesses through tricky financial periods, and they continue to do this today. This is a good thing because there …

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Can I Use Sba Loan To Buy A Car (Sba Loan To Finance Business Vehicles)

SBA loans are possibly the best type of loan for businesses of all sizes. Whether a small or growing business, SBA loans are there to provide money for equipment, staff wages, technology, rent, utilities, and more. However, each SBA loan and every loan provider will have its own regulations and restrictions on what you can …

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Do SBA Loans Affect Personal Credit (Does a Business Loan Affect Personal Credit)

When you make the decision to take out a business loan, this is not one that is taken lightly. Any sort of loan carries a lot of responsibility because you will have to put collateral down to be able to obtain said loan. But sometimes, there is no other option. You simply have to take …

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What Documents Do I Need For PPP Loan Forgiveness? (Recommended Supporting Documents)

When the world gave us a global pandemic, the US government offered a $953-billion pound loan program. It was given the name, the Paycheck Protection Program (PPP).  This loan was established under the Coronavirus Aid, Relief, and Economic Security Act (CARES act) and was administered by the SBA. This loan program was set up to …

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What Is A MCA Loan? (Is A Merchant Cash Advance Right For Your Business?)

An MCA loan stands for a Merchant Cash Advance loan. This is not a business loan but is considered a cash advance based on the number of an individual’s credit card receipts. The funding provider of the loan gets paid back through a process that involves taking a segment of your future credit card sales …

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Does A DBA Need A Separate Bank Account (Multiple DBAs One Bank Account)

If you are the owner of a small business, then you probably will have heard the term ‘DBA’ thrown about. This term means ‘Doing Business As’ and it is another way of referring to the company name of a small business or company. The DBA will be the name which your company operates under, and …

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