If your company is newly formed and has not generated meaningful revenue yet, many traditional business loans may be difficult to qualify for. But one funding category can work differently: business credit cards. Thomas Abelsen’s funding guide identifies business credit cards as typically one of the easiest forms of business financing to qualify for. Strong…
Being less than two years old can make traditional bank financing difficult, but it does not necessarily eliminate every business funding option. The right path depends on how long the company has been operating, current revenue, credit and the consistency of business deposits. Thomas Abelsen’s funding guide shows that online and alternative small-business loans may…
If you are actively considering an SBA loan, checking basic qualification factors before beginning the application can prevent wasted time and unnecessary credit inquiries. For SBA 7(a) financing, Thomas Abelsen’s funding guide identifies typical requirements such as operating a for-profit U.S. business, meeting SBA size standards, demonstrating an ability to repay and providing reasonable owner…
A business line of credit can provide revolving access to capital for inventory, payroll, seasonal expenses and other operating needs. But traditional bank lines of credit are generally more difficult to qualify for than many alternative financing products. Typical benchmarks in Thomas Abelsen’s funding guide include personal credit around 720 or higher, one to two…
If your business needs working capital now, it helps to know whether your current profile is close to the typical qualification range before you apply. Working capital financing can be used for operating needs such as inventory, payroll, marketing, expansion or short-term cash-flow pressure. Thomas Abelsen’s business funding guide identifies common working capital benchmarks of…
If you are preparing to buy a business and expect to need financing, your own funding profile should be reviewed before the transaction moves too far. Funding providers commonly evaluate the borrower as carefully as they evaluate the purpose of the financing. Important factors can include personal credit score, annual business revenue, time in business,…
