Scam Lender Investigator – Why Small Business Loan Interest Rates Are So High
The building is rented out at a rate of $20K a year to a national corporation for the next 15 years, and the borrower is putting $100K. Banks love deals like this. They usually charge a low interest rate of prime plus 2%. For Small Business Owners, this does not work. Small business owners are usually in this situation: The small business has the opportunity to start selling to a new, yet very large customer. The new customer is so large and they say, we will pay you after 90 days. The new customer is going to start buying $50K a month of good and services. This small business owner is use to $20K a month in sales. Where is the business owner going to find 3 months worth of cash to pay suppliers while waiting for the new customer to pay. What this small business owner need to do is look for a company that specializes in financing receivables, also know as factoring. The interest rate for receivable financing can be as low as 8% to as high as 30%. These interest rates can be monthly or annual. Many lenders will loan to small businesses, but these are not your large banks like Wells Fargo and Bank of America.
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U.S. Small Business Administration Micro Loans No Credit/Good Credit/Bad Credit With or without Assets Cut Through All The Red Tape! The program will lead you through the necessary steps to secure your share of the billions of dollars that are available for new business start-ups, and existing businesses. SBA Expeditors will: Match you with the proper Intermediary (Lender) For Your Business Give you the correct Application and Paperwork Create your comprehensive business plan to submit with your application. Advise you with Step By Step Instructions of How To Apply for and Get Approved For your Small Business Loan SBA Expeditors is helping hundreds of people by saving them the headaches of trying to navigate the SBA loan alone. They offer a proven track record of helping individuals obtain their small business loan from the federal government. This little-known fund is distributed through special non-profit intermediaries who are funded by the United States Government. Most people aren’t even aware that this special fund exists nor how to tap into this hidden gem available to almost all small business owners and legal U.S. residents looking to start a new business. Clients are getting loans of up to $50,000 in 30 days. SBA Expeditors gives you all the paperwork you’ll need and offers step-by-step instructions to help you get the money you need for your small business. Let SBA Expeditors cut through all the red tape, and get you up to $50k.
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US Small Business Administration disaster loan deadline nears in part of upper Midwest | Star Tribune
Comments Andrea Gellert made her first dollar selling avocados on the side of a California street as a child. Today she still has a sweet spot for Main Street-style small businesses. Gellert is the head of marketing at OnDeck, a technology company that lends to small businesses . In the past year, OnDeck has grown more than 150 percent and loaned over $1 billion to small businesses. I spoke with Gellert about why she left corporate America to join the startup, and what shes looking for in a company applying for a loan. Gellert started her career at American Express , working there as a summer intern and then spending 15 years there. And going from that a major, publicly traded company to a startup of 100 people was a big change. At large companies, it takes a long time to feel the impact of what you do, she said. What difference does one person make at a large company? Since she came to OnDeck in 2012, Gellert has seen small businesses benefit from her work. She mentioned one restaurant in Mareille, Ill., that is popular among the local hunting and fishing crowd. The owner wanted a loan to upgrade his kitchen before hunting season but was turned down at his local bank. After that happened, the owner found OnDeck and received the loan he needed the same day he applied. He was able to get his kitchen ready for hunting season and saw a 15 percent increase in sales.
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Tips for applying for small business loans from OnDeck expert Andrea Gellert – Bizwomen
Small, nonfarm businesses in 46 North Dakota counties have only a couple of days left to apply for disaster loans through the U.S. Small Business Administration. The SBA says the deadline is Monday for the North Dakota counties and a few neighboring counties in South Dakota, Minnesota and Montana. The loans are to offset economic losses the businesses suffered because of farmers and ranchers losing money due to various weather events since Jan. 1, 2013. The loans are for up to $2 million. more from business get related content delivered to your inbox You are now subscribed.
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