There are a multitude of variables that will alter your business loan cost and fees. Find out how to get a business loan and what will change how much it costs, etc.
Long-term loans tend to be better suited to businesses that have established good credit, a strong financial history, and a solid cash flow. On the other hand, a short-term loan may be a more practical choice for new businesses in need of fast working capital or who may not meet the strict requirements of traditional lenders. Today, we’ll talk about short-term loans vs long-term loans to help you choose the best option for your small business. Let’s get started.
Business loans without collateral are often referred to as “unsecured financing”, but this term isn’t technically accurate. Most business loans without collateral are secured by some kind of asset. Keep reading to learn more about these options, as well as what funding options are available to businesses with no collateral. But first, let’s take a closer look at what “collateral” actually means.
COVID-19 pretty much shut your buinesss down and significantly impacted your sales. You decided to take your business online, and after a lot of work, time and money, you have your site up and running. But, there’s one major problem, your online sales aren’t what you expected. Sounds like you have a conversion problem. There is a multitude of ways you can attempt to boost your conversion rate, but here’s a simple shortlist you can start with.
Every small business owner knows first-hand the importance of access to capital. As the adage goes, it takes money to make money. Offering efficient and tailored access to capital is the mission of OnDeck Canada, one of the country’s leading online business lenders that relies on data analytics and digital technology to make real-time lending decisions.
There are two common types of rate structures used in small business lending: interest rates and factor rates. If you’re seeking funding for your business, it’s integral that you understand the cost of your loan or advance before you sign a contract—after all, you have to know what you’re agreeing to in order to make the right choice for yourself and your business.
Ultimately, how good your credit needs to be comes down to the type of funding you’re seeking and the lender you’re working with. For example, government-funded and traditional lenders typically require high credit scores, while alternative lenders put less emphasis on credit score and will consider additional factors, such as the health and potential of your business.
In this post, we’ll compare Canada Small Business Financing Loans (CSBFLs) to merchant cash advances (MCAs) to help you understand the differences between these two popular but very different funding options.
Having the option of an e-transfer is becoming more and more common in many financial institutions throughout Canada. Learn more about staying safe and protecting against fraud when using this e-transfer function.
Learning more about wire transfers can help you understand more about this process and if it is the right one for you to use. We’ve gathered all of the information you need to make the most informed decision on wire transfers and all that they come with.