How to Get a Business Loan Without a Business Plan
Demonstrating expertise and strength of personal character may make a lender feel secure to approve a business loan without a business plan. Good credit scores, industry knowledge, plus letters from...
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How to Calculate Interest Rate on a Compensating Balance & Installment Loan
A compensating balance is an account balance that a bank can use to offset an unpaid loan. Installment loans featuring a compensating balance requirement will have a higher effective interest rate than...
View ArticleHow to Apply for a Farm Loan
According to Agriculture in the Classroom, 49 percent of the American population made a living in the agricultural sector in 1880, but by 1990 less than 3 percent of Americans were working on farms....
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What Is Considered a Small Business Loan?
A small business loan is when the government provides a guaranty to banks and lenders for money to lend out to people who need the money.
View ArticleWhat Is a 5-3-1 Commercial Loan?
A 5-3-1 commercial loan is a government-backed loan that carries a penalty for early repayment. The penalty gets smaller over time and disappears entirely after three years.
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How to Apply for Handicapped Small Business Loans
Starting a small business is a very difficult task that requires many skills. You need to be organized, have a keen business sense, an eye for marketing and development and the ability to track all...
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How to Apply for a Women's Business Loan
According to the National Foundation for Women Business Owners, over 10.1 million firms are owned by women and the Small Business Administration reports that since 1983, women make up 83 percent of the...
View ArticleHow to Process SBA Loans
Processing SBA (Small Business Administration) loans typically requires following steps as prescribed by the federal agency and those components deemed necessary by the bank or credit union who will...
View ArticleAre Line of Credit Notes Payable?
For businesses, keeping track of notes payable is a necessity. Some businesses also have lines of credit. There are a couple of considerations when classifying the line of credit as either non-current...
View ArticleWhat Is a Promissory Note and Security Agreement?
When you borrow money and offer assets to secure the loan, you will be asked to sign a promissory note and security agreement. These documents protect both the lender and borrower by spelling out...
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How to Obtain a Business Visa Card Without a Personal Guarantee
One of the hardest parts of establishing a new business is separating the business' credit from the owner's or officers' personal credit. Initially it may be easier or more convenient for business...
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How to Get a Farm Loan to Produce Chickens
Although experts watching the chicken industry advise caution, chicken production seems to offer a stable, if not optimistic business for farmers and others who raise chickens. This feeling of optimism...
View ArticleDifference Between a Business Loan & a Consumer Loan
A business loan and consumer loan have two different purposes, and they therefore have different functions, requirements and structures. A business loan is directed toward business purchases while a...
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Types of Business Funding
Business funding has become an extremely important issue, and even more so for start-ups and small businesses. When a business receives funding from the wrong source, it can often result in several...
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How to Get a Business Loan of $500,000
Obtaining a business loan of $500,000 will allow you to purchase equipment, secure an office space, hire employees and other materials necessary to run your business. Obtaining a business loan of...
View ArticleHow Do I Get a Credit Card Using an EIN?
Using your EIN (Employer Identification Number) to get a credit card for your business is a process almost identical to using your social security number to get a personal credit card. In most areas,...
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How to Build Commercial Credit
Sole proprietors just starting out usually depend on their personal-credit histories to prove their creditworthiness to banks. As a company grows, however, establishing a separate business credit...
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How to Obtain Women's Minority Business Loans
The primary source of funding assistance to minority and women-owned businesses is the Small Business Administration. The SBA does not provide loans directly to women or minorities. In fact, there are...
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How to Get Financing for Starting a Small Business
When the economy is struggling, getting financing for a small business can be challenging. According to CNN Money, a treasury report released on December 15, 2009 documented that major banks decreased...
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How to Increase Your Business Credit Score
A business credit score can negatively affect the ability of a business to get the ideal interest rates that is needed when obtaining credit. A low credit score prevents the best deals. Oftentimes,...
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