Abril a menudo se asocia con la limpieza de primavera y la reorganización, lo que significa que finalmente se tomó el tiempo para revisar ese cajón que rebalsa de basura o para organizar los estados financieros del año pasado para la fecha límite de presentación de impuestos. Pero cuando se trata de sus finanzas, puede usar este tiempo para hacer algo más que presentar la documentación de declaración de impuestos gracias a los recursos proporcionados como parte del Mes Nacional de Alfabetización Financiera.
This article originally appeared on Forbes.com
Levi King, CEO & Co-Founder of Nav.com
The devil is in the details. And when you’re applying for a business loan, there are a lot of details.
April is often associated with spring cleaning and reorganizing, which means you finally made the time go through that overflowing junk drawer or to organize last year’s financial statements for the tax filing deadline. But when it comes to your finances, you can use this time to do more than just file your tax return documents thanks to the resources provided as part of National Financial Literacy Month.
If you have bad credit, your financing options may be limited and expensive. If you hope to start or a grow a business, you'll need to learn how to judge the status of your credit score and why it matters to your lender. Even more important, you must explore realistic avenues to fix the problems with your credit history.
For small business owners and entrepreneurs, loans are often essential for growth. But a bad credit score may prevent you from getting a loan you need. If you’re in this spot, then you need to start rebuilding your credit fast!
Despite this country’s affinity for buying on credit, many Americans still don’t fully grasp what their credit score is, how it’s calculated, or how it can affect their ability to borrow. This, of course, means they’re vulnerable and prone to making poor decisions.
Businessmen often have good ideas and clear image of the turning them into the reality. Unfortunately, like all good things in life, these need solid ground and specifically rather big amount of money. It requires thorough business plan and hours of visits from one potential investor to another amid hopes someone will be interested enough to invest. And there is no guarantee this strategy will work out. After years of the futile attempts, disappointment still has a chance to weigh down the balance.
Business credit scores are one of the key factors determining whether or not an enterprise qualifies for a loan. Yet surprisingly enough, most businesses don’t even know what their scores are. This astonishing revelation has come from a new survey by Manta, an online community for small business owners.
Just last week I said goodbye … again. This time, at the America East Lenders Conference in Philadelphia, I looked into the eyes of 400 partner lenders and SBA employees and announced the pending end of my term as regional administrator for SBA Mid-Atlantic. One last time I recounted the amazing work we’ve all done together over my four years with the agency, and the seven-plus years the Obama administration has spent supporting small businesses that are supporting our economy.
Since 1977, the Community Reinvestment Act has required U.S. banks to meet the credit needs of people living in the areas where they do business — particularly those with low and moderate incomes. Banks are graded on how well they meet that mandate, and their track records matter when it comes to getting federal approval of changes such as a merger with another institution, or the opening of another branch.
Fundera and Lendio are two online marketplaces that aim to simplify the business financing process by cutting down the search and wait time associated with finding a small business loan. Online marketplaces allow business owners to comparison shop for credit from a variety of lenders, including short-term and long-term loans, equipment financing, invoice factoring, lines of credit, merchant cash advances, SBA loans, and more.