Our FICO scores impact our ability to borrow both as a business and as individuals. Traditional banks use them as the basis of many of their lending decisions, and a bad score can mean rejection before the ink has dried on the application. This is the reason so many...
It may seem odd that a bank would reject a small business for a loan, especially if that business has been successful and is looking to grow. Companies new and old often face this rejection, and it may feel like a death toll. But understanding why an application was...
The decision to lease or own the location a business is located in is one of the most important that many small businesses experience as they grow. There is a myriad of factors that can cause confusion in addition to the legal and financial aspects of the decision.
You were counting on that small business loan to help your business grow, but the bank said “no.” If it makes you feel any better, you’re not alone. Over the last couple of years, large banks have been reducing the amount of loans that they’re issuing to...
Does it make more sense to lease business equipment or buy business equipment? You may be thinking about upgrading that outdated processing equipment and getting a new machine that’s better and faster. Perhaps you even see your backlog increasing again and you’re...
Figuring out whether you can afford to borrow money for your business is a crucial step in the loan process and one you should definitely take before approaching potential lenders. But determining if you have the resources to make your loan payments can be a bit...