Top Worst Mistakes to Make When Applying for a Bank Loan

At a time when the American economy is reeling from the effects of unfettered credit card debt, housing foreclosures, and price increases on everything from a gallon of gas to a can of tuna, bank loans are fast becoming a shrinking commodity.

According to a recent Federal Reserve survey, the banking world is responding to the [...]

Who Finances the Financier?

We all know that it is hard for small businesses to get financing these days from banks - it was never a piece of cake, and now that the credit crunch is on for so long we see it has gotten ridiculous.  But… did you ever wonder what a bank does when it needs financing?  [...]

Cartoon: Business Loans in a Tough Economy

In today’s economy even the banks need to find creative ways to fund business loans!

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5 Reasons Loan Sharks are Better than Family for Borrowing

1) You don’t have to worry about the loan shark taking the risk.
If you think your friends or/and family might lend you money, even though traditional bankers are saying no, then you probably have a pretty good relationship with them. You believe they care about you, and you probably feel the same way about [...]

How to Get a Business Loan When Your Credit Sucks!

In the world of small business finance, business loans and bad credit do not usually go together. Even though federal interest rates have been dropping, which is good news for borrowers, the current credit crisis engulfing America, has caused the banks and lending institutions to be wary about approving loans on bad credit.The result is [...]

8 Ways to Finance Your Business

You’ll find a lot of articles with the top seven, but most ignore alternative financing options like number 8.
Commercial bank loans. - Key to remember:  Because one bank says no, doesn’t mean others won’t say yes.  If you are looking into this option, be prepared to apply at multiple banks.
SBA loans. - With a 7(a) [...]

Toon of the Week: Adjustable Rate

From the New Yorker: 
“When I mortgaged my soul, you didn’t tell me it had an adjustable rate.” (Man talking to devil in office.)
As the old adage goes:  The large print giveth, the small print taketh away. 
More and more individuals and small businesses are learning this the hard way now that interest rates are shooting [...]

Qualifying For a Loan - A More Optimistic Note

Okay, I admit it.  If you can’t tell already from my more recent posts, I am a bit of a cynic when it comes to the ease and even the possibility of most small businesses qualifying for a traditional bank loan.  However, I came across a more optimistic writer, and decided to share this CNN [...]

Article Review - Funding Your Small Business

 Article Name: Show Me The Money: Funding Your Small Business
 In an article I read from MShale (The African Community Newspaper), Ongeri does a case study on a minority-owned small business in seek of financing.  He lays down two options: debt or equity. Equity is partnership, debt is a loan.
It is a good article, and has some good [...]

The Scoop on SBA Backed Loans

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 worthwhile partner when [...]

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