SBA loans are not perfect, but there are many reasons to love them. From lower rates to easier terms, the warm and fuzzies abound. Not everyone qualifies however. If you do qualify, you may want to jump on the bandwagon.
Funding
Given the nonprofit nature of some lenders, microloans can be a way for business owners to qualify for financing even if they normally would not. Disadvantaged business owners may have much better chances of approval.
This gives disadvantaged business owners a leg up on a form of funding that isn’t business grants—which are notoriously difficult to get.
The salient difference between secured credit cards and prepaid debit cards has to do with whose money you’re spending when you use the card. With secured credit cards, you spend money borrowed from the credit card company. You pay that money back after the purchase. With prepaid debit cards, you’re spending your (or your business’s) own money. You load money onto the card before the purchase.
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