As an entrepreneur, you want to be able to run your business smoothly and efficiently. However, for many people this, unfortunately, means floating on credit when money is tight. While having a company credit card can be essential, it’s never a good idea to rely on credit cards too often to balance your books.
As an entrepreneur, you know that you have to spend money to make money. Whether you’re just starting, trying to expand, or you need a cash infusion to manage some unexpected expenses, getting a business loan is a necessary part of the enterprise process.
If you’ve decided to start looking for financing opportunities to purchase new equipment, meet payroll during a slow month or quarter, upgrade stores or offices, or buy land, there are important things to consider before choosing and applying for a loan. These five items can help you better understand commercial lending options and identify the financing path that is best for you and your businesses.
The government shutdown in January had an impact on many facets of small business operations. One direct impact comes from the SBA, where a backlog of loan applications occurred and will take time to approve or deny.