Small Business
Inventory financing is a type of small-business loan that helps you buy inventory, or products, for your business and uses the inventory you’re purchasing as collateral on the loan. You can get inventory financing from banks, credit unions and online lenders.Inventory-heavy businesses that are struggling with cash flow, are looking to expand or add locations or those want to access discounts by buying products in bulk may benefit from this type of asset-based financing. 250+ small-business products reviewed and rated by our team of experts. 80+ years of combined experience covering small business and personal finance. 50+ categories of the…
It is possible to get multiple SBA loans as long as the SBA lender allows it and you don’t exceed the borrowing limits set by the SBA. Having more than one SBA loan can work in certain situations and help you access low-cost financing for your business; however, it can be difficult to qualify for multiple SBA loans, and it’s not right for every situation.How many SBA loans can you have? SBA loans are government-guaranteed small-business loans issued by designated lenders. The SBA itself does not limit the number of SBA loans you can take out, but it does place…
The SBA Working Capital Pilot (WCP) program offers business lines of credit as part of the SBA 7(a) loan program. Although the SBA also offers lines of credit through the CAPLines program, the WCP program is designed to provide greater flexibility and serve a wider range of small-business owners.Like other SBA loans, WCP lines of credit provide large funding amounts, competitive interest rates and long terms. These small-business loans can be a good option for established businesses that want access to working capital.What is the SBA Working Capital Pilot program?The SBA Working Capital Pilot program is an SBA loan program…
Deciding to start a business is exciting, but can also be daunting if you’re a new entrepreneur. Calculating business startup costs, worrying about long-term profitability, securing startup funding — it can all be pretty stressful.The question of costs is critical because the initial investment can be significant. A Kauffman Foundations study shows the average cost to be around $30,000, and costs tend to increase each year.Fortunately, certain types of businesses, such as micro-businesses and home-based companies, have lower financial entry barriers. Here, we’ve put together a list of 14 different types of business startup costs you’ll need to consider when…
A business plan outlines your business’s financial goals and explains how you’ll achieve them over the next three to five years. Here’s a step-by-step guide to writing a business plan that will offer a strong, detailed road map for your business.FEATURED Featured card placement may be affected by compensation agreements with our partners, but these partnerships in no way affect our recommendations or advice, which are grounded in thousands of hours of research. Our partners cannot pay us to guarantee favorable reviews of their products or services. Here is a list of our partners.A business plan is a document that explains…
Some people venture into entrepreneurship with a clear vision: They know what industry they want to conquer and the path they’re going to take to get there. However, for many new entrepreneurs, it can be difficult to figure out how to start a business — plus, determine exactly what type of business is the best choice to invest in.To help you launch your journey, we’ve compiled a list of the most profitable businesses, considering factors such as industry growth and competitiveness, startup costs and barriers to entry, as well as profitability potential.FEATURED Featured card placement may be affected by compensation agreements…