Category: Business Financing

When Can Your New Small Business Get a Business Loan

When Can Your New Small Business Get a Business Loan

Getting a small business loan for your new venture can feel like a catch-22: it takes money to make money. Lenders want to see a track record, but how are you supposed to get that?  Here we’ll explain when (and how) your small business can get a business loan. How Do Business Loans Work for a New Business Startup loans can be among the most difficult to get. Business loan requirements often consider three or four main factors: How long… Read More
Start and Fund a Pressure Washing Business This Year

Start and Fund a Pressure Washing Business This Year

Mause Ramirez, owner of MCS Cleaning Services in San Francisco is known as Señor Ramirez to his customers and community. He’s passionate about cleaning windows, and it shows.  “What I like most is the transformation of dirty surfaces, like fences or walls,” he enthuses.  “Many times, owners don’t realize that letting dirt accumulate on these surfaces can lead to deterioration, which can be much more costly to repair or replace,” he says. “Seeing the owner’s smile when they see the… Read More
These Are the Cheapest Franchise To Open and How to Finance Them in 2024

These Are the Cheapest Franchise To Open and How to Finance Them in 2024

If you want to start a business but don’t want to start completely from scratch, a franchise can be an appeal option. Franchises offer a structured business model with established systems and support. With a franchise, you can step into an existing brand and benefit from proven strategies, training, and ongoing assistance. Some franchises can cost hundreds of thousands of dollars or more to open, which puts them out of reach of many entrepreneurs.  But there are low-cost franchise options,… Read More
10 Small Business Loan Requirements (You Should Be Prepared For)

10 Small Business Loan Requirements (You Should Be Prepared For)

If you’re not sure how to get approved for financing options like small business loans, lines of credit, or even business credit cards, you’re far from alone.  In the Federal Reserve’s 2023 Small Business Credit Survey of non-employer firms, only 29% of business owners said they applied for financing in their first two years in business. Seventy-six percent reported using personal funds in response to financial challenges.  Once you understand what lenders are looking for, you’re in a better position… Read More
How Banks Assess Credit Risk in 2024

How Banks Assess Credit Risk in 2024

When your business needs financing, you'll find that some of the best options require the most documentation. Why? It all comes down to credit risk. Banks and other financial institutions need to gauge the risk associated with lending to your small business.  Understand how lenders approach credit risk, and your business can improve its qualifications. What is Credit Risk? The term “credit risk” evaluates the risk of default; in other words, it tries to predict the possibility of losing money… Read More
EBITDA Margin: What is Means, How to Calculate and Why You Should Know This Term

EBITDA Margin: What is Means, How to Calculate and Why You Should Know This Term

Scroll financial headlines and you’ll likely see the term EBITDA mentioned more than once. Like this headline on Yahoo Finance: “Tap These 5 Bargain Stocks With Impressive EV-to-EBITDA Ratio”.  If you aren’t interested in financial analysis, you may wonder what that means to your small business. EBITDA doesn’t just measure the performance of a big business: small businesses can also benefit from knowing what this financial metric says about their business, too.  Why Small Businesses Should Know What EBITDA Means… Read More