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What Happens When You Default on a Merchant Cash Advance?

  A Merchant Cash Advance (MCA) can be a critical tool for getting your business through tough economic times. When MCAs were first rolled out, they saw businesses receive a lump sum, cash payment in exchange from a funder in exchange for a percentage of future sales, typically carried out via debit or credit card.  […]

What Happens if you Default on an SBA Loan?

  There are many reasons to take a loan administered by the Small Business Administration (SBA). These loans come with low interest rates, favorable repayment terms, and generous limits, anywhere from a few thousand dollars to $5 million. But let’s say you’re a small business with an SBA loan and, despite your best efforts, can’t […]

Can Nonprofits Get SBA Loans?

  During the Covid-19 pandemic, the Small Business Administration (SBA) stepped up and provided disaster loans to nonprofit organizations. The 2020 CARES act granted loans to nonprofit organizations through the Economic Injury Disaster Loan (EIDL) program that were previously available only to small businesses. As well, the Paycheck Protection Program (PPP) was extended to nonprofit […]

A Merchant Cash Advance: Scam? Or a Good Way to Get Cash Fast?

  You’ve probably heard about merchant cash advances. These are financing options provided in one or two business days to business owners that don’t possess outstanding credit. There are upsides and downsides to MCAs. One upside is that a business can get access to cash fast, with clear terms, for a fixed time period. One […]

Is a Merchant Cash Advance a Good Idea for my Business?

Merchant cash advance (MCA) offers businesses an alternative over other small business financing options. Unlike different types of business funding that require lengthy applications and strict terms, MCAs provide fast and flexible funds to small businesses.  45% of businesses fail within the first five years of being open, and one of the top reasons that […]

I Own a Nonprofit — What Business Loan Options are out There for me?

  When we talk about bank loans, most often we are referring to home or business loans. But non-profit organizations occasionally need extra funding as well. Whether it’s to balance the books, expand operations, or pay off debt, loans for non-profit organizations are commonplace.  Most non-profit organizations generate operating expenses from fundraising or grant applications, […]

How Hard is it to Get an SBA Loan?

SBA loans are considered one of the most attractive types of small business loans for both borrowers and lenders. The main purpose of SBA loans is to help small businesses get the funding they need by lowering the risk for the lender.  Without capital, businesses can’t function. This is why small business loans are so […]

What is an MCA?

  38% of startups fail due to a lack of cash alone. Traditional loans and lines of credit are certainly helpful, and sometimes necessary, for small businesses and startups to keep their doors open. That said, the process of applying for and being approved for small business loans can be extremely rigorous and time-consuming. Generally, […]

Business Lines of Credit for Rainy Days and Growth Opportunities

What is a business line of credit? It’s a secured or unsecured line of credit a business uses to fund growth or pay down debt.  It’s a revolving line of credit, meaning that however much you have already borrowed, you can always borrow more – up to your limit.  A business line of credit functions […]

How to Get a Small Business Loan

Starting your small business requires dedication, motivation, commitment, hard work…and money. From hiring employees to renting a space and purchasing inventory, you need cash in order to get your business up and running. Loans for small businesses allow entrepreneurs to take important steps for their enterprises during the beginning and growth stages of the business […]