Navigating the Hazards: The Pitfalls of Opening a Small Business
Photo Courtesy: BBuilder/Getty Images Launching a small business is an exciting venture filled with dreams of success and independence. However, it’s essential to recognize that entrepreneurship is not without its challenges. While small businesses have the potential for great rewards, they are also susceptible to various pitfalls that can derail even the most well-thought-out plans. […]
5 Key Factors to Consider When Choosing an Online Lender
In today’s digital age, online lenders have become a popular choice for borrowers seeking quick and convenient access to funds. Whether you need a personal loan, business financing, or a mortgage, selecting the right online lender is crucial to ensure a smooth
The Rise of Online Lenders: Revolutionizing the Financial Landscape for Small Businesses
In recent years, the financial landscape has undergone a remarkable transformation with the rapid rise of online lenders for small businesses and individuals. According to a recent article in Forbes, 23% of small businesses needing funds opted for an online lender in 2021, up from 20% in 2020 and likely to continue to rise.
How Tightened Lending Standards Affect Small Business Loans
According to the Federal Reserve’s quarterly Senior Loan Officer Opinion Survey (SLOOS) released last month, more lenders have stiffened their standards in the wake of increasing turmoil within the banking sector. The survey report states
Need Funding for Your Small Business? You’re Not Alone!
According to small business statistics provided by Zippia.com, at least 70% of small businesses in the U.S. have outstanding debt. More and more businesses look for non-bank lenders such as merchant cash advances…
Impact of Interest Rates and Small Business Loans
The Federal Reserve, commonly referred to as the Fed, has a significant impact on the U.S. economy, particularly when it comes to interest rates. Interest rates refer to the cost of
Banking in Today’s Uncertain Times
You work hard for your money and the last thing you need to worry about is whether or not your money is safe at the bank. But with the recent collapse of Silicon Valley Bank, followed by Signature Bank, many small business owners find themselves concerned. According to Forbes, there have been 565 bank closures […]
How to Properly Value Your Small Business
Every small business owner should conduct an annual valuation process, to form a baseline and learn about the variables that determine its changing worth. This exercise is particularly valuable when your business is up for sale or you are trying to attract new investors, and you may also need it when applying for certain types […]