I wanted to summarize a recent article directed at small businesses looking to get a bank loan secured by the SBA. Here’s a summary: Pros: “…the interest rate is right around 6 percent and it’s locked in at a fixed rate, in some cases for 20 years.” “Some small business owners have found the SBA [...]
A new brokerage for invoice factors launched January 1, 2008 which could possibly provide a boost within the invoice factoring industry: FactorLane. The website is supposed to be similar in concept to The Lending Tree, which is a mortgage broker site. Factors bid for company invoices, and companies rate the various factors. Although this is [...]
A topic which I have become increasingly curious about recently regards Islamic Banking Laws. Now, all I know is that risk is shared and there is no interest allowed. In credit card factoring, or business cash advance, we pay business owners money in advance, which they expect to be getting in credit card receipts over [...]
Reported in The Gazette - Cedar Rapids, IA “The Targeted Small Business program provides low-interest financing for small businesses that are at least 41 percent owned by a minority, woman or person with a disability. “ This article tells of 3 different restaurants which benefited from state loans with a 4 or 5% interest rate, ranging from $20,000 [...]
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