Tag: Business Loan
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Growing Your Venture: Personal Loan for Self-Employed Borrowers
If you are running your own business, we understand how exhilarating and challenging it can be at the same time. Being a self-employed entrepreneur gives you the freedom to pursue your passions. You are free to set your schedule and be your own boss. However, with these benefits come financial responsibilities. Sometimes, you may need…
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How to Take Out a Business Loan Without Stunting Your Growth?
There is no doubt that investing in your business is a sure-fire way to promote growth. Not only will it help you expand, it’s a way to buy additional stock, complete the necessary training, and invest in your employees. There is a wealth of business loan companies out there. And while being accepted for a…
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The Necessity of a Personal Credit Score on a Business Loan
In a recent statistical study started by Finder, over 40% of entrepreneurs in America took out loans to finance their businesses in 2019. This number represented a massive drop from the previous years, and it is a clear illustration of the number of people who rely on loans to finance their businesses. Notably, no bank…
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Know How the Debt Service Coverage Ratio Decides Whether You Get a Business Loan
What’s worse than being in desperate need of a business loan only to be denied because your debt service coverage ratio is too high? Not knowing what it is at all! It’s hard enough to pull together all the information and fill out forms to get a business loan. But no lender will gladly dole…
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6 Ways to Reduce the Interest Rate on Your Small Business Loan
Being prone to financial crises is one of the most common issues that small businesses have to tackle. Furthermore, severe market competition can lead to instability in revenues and working capital. Also, those who are looking to set up a business may also find it hard to arrange funds as seed capital. Thus, entrepreneurs seek…
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Looking for a Business Loan? 6 Things to Avoid Before You Apply for a Business Loan
While dedication, perseverance and hard work play an imperative role in the success of the business, money is one such factor which is equally important, or you can say, holds more value than other parameters. You can either fund your business from your savings or apply for a business loan. With a rise in the…