Collateral refers to assets that a business owner pledges to secure a loan. Essentially, collateral acts as a safety net for the lender, ensuring they can recover their investment if the borrower defaults.
In the case of a secured business loan, the lender has the legal right to seize the pledged assets to recover the outstanding loan balance. Collateral
Buying an existing laundromat can be less costly and time-consuming than starting a new one from scratch. The purchase price can range from $18,000 to $3 million, depending on the location, size, and profitability of the business. While purchasing a laundromat requires a significant investment, it often saves you the time and expense associated with building a new facility.
Acquiring
Inventory financing is a specialized type of small business loan that helps business owners purchase essential inventory for their operations. It’s a form of asset-based lending (ABL) in which the inventory acts as collateral, reducing the risk for lenders. Inventory financing can also refer to using current inventory as collateral for business funding for other operations, such as working capital
Commercial loan interest rates fluctuate due to various factors, including economic conditions and shifts in the federal funds rate. Over the past several months, the commercial mortgage market has experienced some volatility as the Federal Reserve has adjusted the interest rate to control inflation.
As of January 10, 2025, the average interest rate for a 5-year commercial mortgage loan is
Some lenders offer business loans with EIN only, meaning they evaluate the business’s credit history rather than the owner’s personal credit. This approach benefits business owners who want to separate personal and business finances or have less-than-perfect personal credit. While not all lenders provide this option, alternative business financing providers and online lenders may consider applications based solely on business
Once you have established the need for a small business loan, you must then figure out what type of small business loan would work best for you. This doesn’t mean choosing between different business financing products. If you’re comparing a business line of credit to an SBA Loan, you’re skipping too far ahead. The potential borrower must first consider whether
Unfortunately, veterans have traditionally faced several obstacles when seeking the means to grow and sustain their businesses. This may explain why only 7% of veteran-owned companies survive past the 10-year mark.
If you intend to take out a small business loan from a bank, one of the primary requirements is a business plan. Preparing this 12 to 15-page document could very well be the most tedious part of the entire small business loan process, including repayment. In this guide, we’ll break down everything your bank will likely be looking for in
Every small business can make a big impression by participating in social media. Engaging with customers on their favorite network shows that you understand their preferences and want to learn more. According to Smart Insights, 76% of Americans use social media daily and up to 15 hours each week. Small businesses cannot pass up this opportunity to connect with individuals
NEW YORK, May 15, 2018,/PRNewswire-iReach/ — The Small Business Finance Association (SFBA) on 5/14/18 announced the launch of a new initiative called the SFBA Broker Council dedicated to bringing together responsible brokers that serve small businesses to focus on creating best practices. The Council has selected Jared Weitz, founder & CEO of United Capital Source Inc. has been selected as
Fraud Disclosure:
Please be aware that individuals have been fraudulently misrepresenting to business owners (and others) that United Capital Source, Inc. (“UCS”) can assist small businesses in receiving government grants and other forgivable business loans, when in fact those grants or loans do not exist or are not available. These individuals have ulterior motives and are engaging in the unauthorized use of the names, trademarks, domain names, and logos of UCS in an attempt to commit fraud upon unsuspecting small business owners.
UCS will never communicate with a prospective client on Facebook, Facebook Messenger, or any other type of social media. Further, any email communications will always come from an official UCS email address and not a Gmail, Yahoo, or other email domain. If you believe you have been contacted by someone posing as an employee of UCS, please email [email protected].
