Category: Business Financing
How to Get A Small Business Loan in Canada
Are you looking to obtain capital for your existing business or start-up in Canada? If you are, you are not alone. According to the Government of Canada, by the end of 2015, 31% of businesses had applied for financing at some point that year. People look for financing for a number of different reasons that…
All you need to know about short-term loans: A quick recap
When you’re beginning your research into financing for your business, there are a lot of items you need to consider. The most common question is ‘what type of loan should I get?’ There’s a myth out in the business world that it’s best to get the most amount of money for the longest payback period…
4 ways to recover from a rejected loan application
Most small business owners don’t jump into their entrepreneurial dream because they are experts at financing a business. As a result, it’s not uncommon for a loan application to be rejected. Sometimes it could be the creditworthiness of the business, the criteria of the lender, or simply not completely understanding what the lender considered when…
Steps to Get Back to Work and End the Year Strong
In August, the slow, quiet, feeling of summer fills the air in many offices around the world. Each week a different team member is on vacation, some offices have “Summer Fridays,” and motivation seems lacking. In many parts of the country, it’s HOT, which makes most people sluggish and want to be anywhere but inside…
Working Capital Financing in a Nutshell
What is “working capital”? And how can it help my small business? These are just a couple of questions we get every day, here at OnDeck, so I thought it would be prudent to do a little review. Cash flow is the heartbeat of a small business. For many business owners, it makes sense to…
Strategic Borrowing Benefits to Increase Your Loan Options
Increase Your Loan Options with Strategic Borrowing Without adequate capital, it’s difficult for small businesses to grow and thrive. This is true whether you fund your business through cash flow, investment, or borrowing. Taking a strategic approach to meeting your business’ need for capital to fuel growth and fund any other ROI-generating activities will ensure…
4 Important Questions to Ask Before You Apply for a Business Loan
There’s no question the notion that it takes money to make money isn’t lost on small business owners looking for capital to fuel growth or fund other business needs. And, for many business owners, a small business loan is where they find it. Although borrowing capital from traditional sources like the bank is still a…
Loan Stacking is Bad for Your Business
Have you heard of loan stacking? If you’re unfamiliar with the term, loan stacking is where a loan or cash advance is approved on top of a loan or advance that is already in place with similar characteristics and payback terms. While many business owners may have not heard of the term, there are a…
Business Credit Cards: Why Your Small Business Should Have One
If you’ve been using your personal credit card for business use, it’s time to take a look at how a business credit card can benefit your small business, and make your life easier. Don’t think of adding a business credit card as one more task on your list; think of it as opening up a…
ACH Payments and Small Business Loans
I vividly remember the last time I wrote a check. It was yesterday. What I can’t remember is the time before that. In fact, it had been so long that I had to search through my desk to even find a check. If you’re like me, and many others, you seldom use checks anymore. In…
Should I Apply for a Business Credit Card, Line of Credit, or a Business Loan?
Deciding which type of credit is right for your business or your business purpose can sometimes be a challenge. And, in some cases there might be more than one way for a small business owner to access the credit he or she might need. A business credit card, a line of credit, and a small…
Does a Small Business Loan Make Sense for My Business?
Finding access to capital is a challenge for many business owners. It takes money to fuel growth—borrowed money for many small businesses. As online small business lending becomes more mainstream, and many business owners enjoy increased access, it becomes important to ask, “Does a business loan really make sense for my business?” I started working…
Cash Flow Problems? Here’s What You Need to Know
We all know how important cash flow is. A steady stream of income that’s more than enough to cover expenses is what helps us stay in business–it’s what makes our businesses function to begin with. When cash is flowing in, all is well. Clients are paying on time, there are no unexpected expenses, and stress…
5 Ways to Improve Your Business Credit Profile
No question, a good personal credit score is something every small business owner should build and maintain. Did you know your business credit profile may be even more important to some lenders for your business’ long-term ability to secure a small business loan? We recently shared some suggestions to boost your personal credit score, today…
Looking for a Small Business Loan? Loan Purpose Matters
It’s true, there are more options available today than ever before for business owners looking for a small business loan, but there isn’t really a one-size-fits-all solution. Understanding the relationship between why you need the loan and where you should be looking will help you find the right loan. Should your first stop be the…