Lenders check your bank statement before giving you a business loan for a number of reasons. Here are some of the main reasons: Assessing your creditworthiness: Your bank statement can provide lenders with an overview of your financial health and history, including your income, expenses, savings, and debt. This information helps them to determine whether …
Opportunity knocks — but does your business have the money to listen? 😄 😄 Ah ah feel that quote from lendigo? A lot of business owners shy away from loans because of the numerous stories that we have heard. Some of which includes: Debt being bad for business. Loan companies enjoy disgracing people when they …
4 REASONS WHY YOU SHOULD YOU TAKE A LOAN TO EXPAND YOUR BUSINESS? Read More »
When it comes to financing a business, most business owners are confused about taking long-term or short-term business loans. When it comes to business loans, most business owners are at crossroads. They just don’t know which type of loan is right for their business. There is no denying the fact that any business needs money …
Long Term or Short Term Business Loans: Which Is Right for Your Business? Read More »
Your credit score – that three-digit number – is an important measure of your financial health. It is a telltale sign that helps lenders to know if you use credit responsibly or not. That said, lenders can determine at a glance if you’ll pay them back on time should they grant you loans or credit …
Creditworthiness is one of the most important things that all small business owners should consider when starting their business. We can define creditworthiness as the extent to which a business is deemed suitable for financial help. Creditworthiness is judged based on how reliable a business was in paying back its past loans or debts. Creditworthiness …
How to Build Creditworthiness as A Small Business Owner Read More »
When taking a loan from an individual or organization, one of the promises made is the duration and payment plan. However, if these conditions are unfulfilled, the loan can go into default. And that’s understandable because sometimes, your finances don’t work out as you planned on paper. And perhaps you intended to pay off all …
What Happens If You Default on A Loan Repayment? Read More »
We live in a world where the majority of people hold myth as truth and truth as a myth. When this happens in the business world, the uniformed bear the grunt of the whole problem. The backlash results in people suffering from setbacks, stagnation, or the utter doom of their businesses. Why suffer from loss …
Common Misconceptions About Getting A Business Loan Read More »
As a small business owner applying for a loan, you can easily feel bamboozled with some of the lending terms you hear from Lenders. We understand how confusing we might sound sometimes, so here’s an opportunity for you to get familiar with some of the lending terms you should know as a small business owner. …
I think you’ll agree with me when I say: It’s REALLY hard to procure a loan from most individuals or corporate organizations. Reasons for this are not far fetched— they all want to guarantee repayment and ensure their interest is protected, even from the onset. When borrowing money, there are small business loan documents required for …
5 Documents your Lender Wants you To Sign and Why Read More »
Do you need funding for your business? All over the world, business owners have come to terms with the fact that they need to pump funds into their enterprise at one time or the other for growth and survival reasons. If you find yourself in need of funds for your business, there are several online …
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