Sarah George

Oct 31, 2024 | bankrate.com | Sarah George |Rob Watts

Unsecured small business loans come in many different forms, so it's important to choose the right type of loan for your situation When comparing lenders, look at the eligibility requirements to see if your business qualifies and compare the interest rates and fees charged When applying for an unsecured business loan, you may need to gather your EIN, business formation documents, business financial statements and personal details An unsecured small business loan is a type of loan that does...

Oct 31, 2024 | bankrate.com | Sarah George |Emily Maracle

There are several options for financing equipment purchases, including term loans, SBA loans, equipment loans and leases and business lines of credit. Each type of loan has advantages and disadvantages, so it's important to carefully consider business needs before choosing one. Online and alternative lenders may be a good option for startups or business owners with bad credit who need fast funding for equipment.

Oct 29, 2024 | bankrate.com | Kacie Goff |Varo Money |Sarah George |Rob Watts

Backed by assets, secured business lines of credit may offer favorable rates and terms than unsecured lines of credit Unsecured business lines may still require a personal guarantee You can use a business line of credit to cover inventory, payroll, equipment purchases, repairs and more If you need access to short-term funds or want to build credit, a business line of credit may be the answer.

Oct 4, 2024 | bankrate.com | Karen Bennett |Marc A. Wojno |Sarah George

An overdraft fee is charged when you don’t have enough money in your bank account to cover a debit -- the average charge is around $29. Some banks deny transactions when you don’t have enough funds to cover them. Some banks offer a 24-hour grace period to restore your account to a positive amount. Many banks are moving away from charging overdraft fees, helping you avoid the costly fee entirely.

Oct 4, 2024 | bankrate.com | Sarah George |Rob Watts

Startups are unlikely to meet minimum revenue and time in business requirements Alternative lenders, microloans and SBA loans are common options for startups Startup loans may have higher interest rates and shorter repayment terms While the average small business loan amount is $663,000, according to the Federal Reserve, startup loans are generally far less than this.