Category: Business Financing

How Much Does It Cost To Open a Laundromat in 2024

How Much Does It Cost To Open a Laundromat in 2024

If you open or purchase a laundromat, you’ll be in good company. There are about 30,000 coin laundries in the US, generating about $5 billion in annual revenue, according to the Coin Laundry Association, which represents the laundromat industry.  A laundromat in the right location can create a profitable business for years to come. But how much does it cost to open a laundromat? Here we’ll explore the costs and benefits of a coin laundry business.   Start a Laundromat in… Read More
Typical Small Business Financing Fees 

Typical Small Business Financing Fees 

Lenders usually charge business loan fees on top of interest. It may cost money to make money, but small business owners should still understand all the possible loan fees to make sure a specific funding option makes financial sense for their business. This article breaks down the most common finance fees, how to understand total loan cost, examples of business loans with no origination fee, and how to find the best business loan to help you make the best financing… Read More
13 Financial Mistakes Business Owners Make (and How to Fix Them)

13 Financial Mistakes Business Owners Make (and How to Fix Them)

Like in life, when it comes to running a business, you’re probably going to make mistakes. Knowing what to expect can help you avoid serious and costly setbacks.  Here are 13 common financial mistakes small business owners make, and how to avoid (or at least minimize) them.  1. Mixing Personal and Business Finances Mixing business and personal expenses is a very common mistake many small businesses make.  Sam Morgan, MBA, is a Senior Certified Business Advisor with the University of… Read More
How Can Debt Be Used to Grow a Company?

How Can Debt Be Used to Grow a Company?

Taking on debt can be an intimidating move for a small business or entrepreneur — it can feel like a risk. It might feel safer to use savings or a more familiar method of funding like business credit cards. But there can be huge benefits to using debt for business growth. Debt can offer opportunities for business owners that would have otherwise been out of reach. In this article, we’ll explore the ways that good debt can help your business… Read More
Working Capital Loans Based On Commission Income

Working Capital Loans Based On Commission Income

While those working in sales can make a great income when getting paid on commission, there’s always the risk that when sales don’t close, there’s no commission check. And lenders know that too. That can make it more difficult for salespeople who are paid on commission to get a home loan or other types of loans.  If you’re self-employed as an independent contractor with commission-based income, you may have unique challenges finding financing.  What Are The Options For Working Capital… Read More
Secure Funding Without a Business Plan

Secure Funding Without a Business Plan

A business plan serves as a roadmap for your business's future and communicates your vision to others, including lenders. But you may be wondering if you can get a business loan with a plan for your business strategy. You might be surprised to learn that no business plan loans and other funding do exist — but there are risks involved with them. This article explores which financing and loans without a business plan are available, the importance of a business… Read More