The COVID-19 outbreak has wreaked financial havoc around the globe, leaving many business owners struggling in its wake. According to the National Federation of Independent Business (NFIB), as of March 30th—still early in the crisis—92% of small businesses said they had suffered negative effects as a result of the pandemic. Just 5% of small-business owners said they had experienced no effects at all.

Understanding Business Loans Without Collateral

If you’re a new small business owner requiring a loan to get your business off the ground and where it needs to be financially, but you haven’t accumulated collateral to borrow against in the event that your business suffers a downfall, you may find yourself in a situation where getting a small business loan without collateral seems nearly impossible.

Starting a business with no money and no collateral to secure a business loan can be tough. However, there are ways around getting a business loan without collateral by implementing the following tips. With so many lending options available for small businesses to grow and flourish, you can easily get your business on its feet.

What Is The Average Interest On a Small Business Loan?

In an ideal world, you’d be able to determine the exact average small business loan interest rate in order to scope whether a financial institution is taking you for a ride or being extremely generous. Unfortunately, there is no such thing as one specific average interest on a small business loan or even an average SBA loan interest rate due to many contributing factors.

Factors Affecting Your Small Business Loan Rate:

The views and opinions expressed in this article are those of the author and do not necessarily reflect the official opinions, policies, or positions of StreetShares or any of its affiliates.

One of the biggest challenges of running a small business is raising the money that you need to grow your business. As a result, most business owners rely on small business loans to fund their daily business operations during the growth period.

The views and opinions expressed in this article are those of the author and do not necessarily reflect the official opinions, policies, or positions of StreetShares or any of its affiliates.

Financial instability is a common occurrence for every business – even Amazon struggled to return consistent profits until recent years. Your small business is probably not getting financial backing like Amazon, so how can your company survive when faced with financial challenges?

The views and opinions expressed in this article are those of the author and do not necessarily reflect the official opinions, policies, or positions of StreetShares or any of its affiliates.

As a small business owner, you’ve probably learned a next level definition of the word “busy.” There are likely far more tasks on your growing to-do list than you can ever hope to complete. Yet building good credit for your business isn’t something you can afford to keep putting off.

Building business credit doesn’t happen overnight. Thankfully, even if you’re busy, there’s a simple way you may be able to help your business credit score to grow — business credit cards. 

Just as the name suggests, cash flow involves the money coming in and going out of your business. If more money is coming into your business than moving out, you have a positive cash flow. This not only indicates that your business is gaining funds, but it also ensures you can meet your business needs- such as settling any outstanding debts, making investments, paying your employees, and managing other expenses. A positive cash flow is essential for business growth. However, if more money is flowing out of your business than is coming in, you are at risk of being overdrawn and unable to meet your vital expenses. Let’s explore how you can improve your cash flow and use that to achieve your business goals.

It’s been a decade since the financial crisis, yet small business lending has not recovered. Why is this the case? And why is getting a loan so difficult? To learn why, let’s look at two big factors that affect your chances of getting a business loan:

The digital revolution is here. Today, over 2 billion people use smartphones across the globe and the numbers continue to rapidly grow. As a result, smartphones are opening fresh new opportunities for commerce. If you examine the Google Analytics data of your business website, chances are you’ll notice that most of your traffic comes from a mobile device. A small business looking for growth can take advantage of this massive number of potential clients by creating digital marketing platforms that are mobile friendly and suit the needs of these users. We’ll explore why your veteran-owned business needs to be mobile friendly and how you can take advantage of this technology to continue to grow your business.