The Best Banks for Small Business Loans, best bank for small business.#Best

The Best Banks for Small Business Loans

Best bank for small business

A small business loan can make all the difference in whether or not your business succeeds.

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  • 2 How to Apply for Government Small Business Loans
  • 3 How to Get a Business Loan From Banks
  • 4 What Is Needed for a Small Business Loan?

Successfully obtaining a small business loan can make all the difference in whether or not your business succeeds. Some banks are a lot friendlier toward small businesses than others, making it easier to apply for and obtain a small business loan. Although finding such a bank is no guarantee that your loan application will get approved, knowing which banks are more amenable to small businesses is half the battle.

Banking Grades

Banking Grades is a new tool from Multifunding, a Philadelphia-based small business financial consultant. By analyzing data from quarterly FDIC call reports, Banking Grades assigns a letter grade from A to F to a bank based on its small business lending performance. To get an A, a bank must apply at least 25 percent of its total domestic deposits to small business financing. Banks that receive a grade of F use less than 3 percent toward this goal. Entrepreneurs seeking small business loans can use this tool to search for small-business-friendly banks in their area, or to check the grade on a specific bank.

Big Banks

Big banks are banks with deposits of more than $10 billion. These include some of the more widely known banks nationwide. Big banks tend to score lower overall in Banking Grades reports. According to Multifunding CEO Ami Kassar, as quoted in the Huffington Post, big banks are too bureaucratic and spread out to handle small business loans well. However, several big banks did score a B or higher.

Top Five Big Banks

As of May 2012, the top-scoring big banks for small business loans included Zions First National Bank, headquartered in Salt Lake City; First-Citizens Bank Trust Company in Raleigh, NC; Synovus Bank in Columbus, GA; Chase Bank Usa in Newark, DE; and Bancorpsouth Bank in Tupelo, MS. With the exception of Zions First National Bank, which received an A, all of these banks received a B from Banking Grades.

Small Banks

Small banks, or community banks, typically serve a region, state or smaller community rather than offering nationwide service, and have less than $1 billion in assets. Smaller banks tend to score better overall in Banking Grades reports, with many small banks receiving an A grade. Community banks typically loan out about 66 percent of their assets in small business loans, a much higher percentage than big banks.

Top Five Small Banks

As of May 2012, the top scoring small banks, all of which received an A from Banking Grades, include Farmers State Bank in Hosmer, SD; Community Bank in Nevada, IA; Farmers And Merchants Bank in Milligan, NB; First Resource Bank in Savage, MN; and Wright Express Financial Services Corporation in Midvale, UT.

SBA Loans

The Small Business Administration sets guidelines for loans intended for small business owners who don’t have access to other forms of financing. These loans include the 7(a), for businesses with region or industry-specific needs, and the 504, which is intended for expansion and modernization of a business. Although the SBA does not itself give out loans, it has lending partners, typically community banks.

Top Five Banks for SBA Loans

As of May 2012, according to research done by the financial advice website Nerd Wallet, the top five community banks for obtaining SBA loans include BankFive, headquartered in Fall River, MA; Community West Bank in Goleta, CA; Kitsap Bank in Port Orchard, WA; TwoRiver Community Bank in Middletown, NJ; and Cornerstone Community Bank in Grafton, WI.





Business Loan Opportunities for Military Veterans in 2014, The U, business loans

Business Loan Opportunities for Military Veterans in 2014

The service of veterans has done a tremendous amount for the United States – on our own soil and around the world. Many continue their contributions to the country by channeling their skills and leadership into entrepreneurial endeavors that help strengthen our economy.

And now through the rest of the fiscal year, SBA’s Express Loan Program will make it easier to get loans in the hands of veterans so they can succeed in their business ventures.

Through the end of September, SBA has set the borrower upfront fee to zero for all veteran loans authorized under the SBA Express program, which supports loans of up to $350,000.

Additionally through the end of the fiscal year, fees on all loans (and not just for veterans) $150,000 and under are set to zero.

These initiatives make the loans cheaper for the borrower, which is just another way SBA is looking to serve small business owners – and those veterans who have served us – as they look for ways to access capital.

About the Express Loan Program

One great feature of the Express Loan Program is that it has an accelerated turnaround time for SBA review. You’ll receive a response to your application within 36 hours.

With a fast turnaround, streamlined process and easy-to-use line of credit, this program is SBA’s most popular loan delivery method – nearly 60 percent of all 7(a) loans over the past decade being authorized through the program. Since the program began, it has also been one of the most popular delivery methods for getting capital into the hands of veteran borrowers.

Interested in exploring loan options to get your business started? Check out these loans that fall under Express Program standards. Our business loan checklist can also help prepare you for the application process, in addition to taking a look at the credit factors lenders will consider when you apply for an SBA-backed loan.

In the transition from military service to customer service, you’ll find great resources from SBA to help you find success. And if you’re looking for funding to get your business off the ground, these loan perks may make it possible to do just that.

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Business loans for veterans





Startup Financing – Small Business Funding, financing for business.#Financing #for #business

Startup Business Financing

Financing for business

Wouldn t you love to have a few million dollars to start your business? Me too! With a great idea and a great business plan, you probably feel almost entitled to get the funding you re seeking.

The reality, though, is that for most entrepreneurs, you must prove your concept first before anyone will put up that kind of money. But most businesses require some sort of initial capital for things like inventory, marketing, physical facilities, incorporation expenses, etc.

According to the U.S. Small Business Administration (SBA), While poor management is cited most frequently as the reason businesses fail, inadequate or ill-timed financing is a close second. Sometimes it comes down to simple cash flow–many companies have closed their doors because they just couldn t make it another few months until the money came in.

When exploring your funding options, there are several factors to consider:

  • Are your needs short-term or long-term? How quickly will you be able to pay back the loan or provide a return on their investment?
  • Is the money for operating expenses or for capital expenditures that will become assets, such as equipment or real estate?
  • Do you need all the money now or in smaller pieces over several months?
  • Are you willing to assume all the risk if your company doesn t succeed, or do you want someone to share the risk?

The answers to these questions will help you prioritize the many funding options available.

  • Debt financing – You borrow the money and agree to pay it back in a particular time frame at a set interest rate. You owe the money whether your venture succeeds or not. Bank loans are what most people typically think of as debt financing, but we will explore many other options below.

  • Equity financing – You sell partial ownership of your company in exchange for cash. The investors assume all (or most) of the risk–if the company fails, they lose their money. But if it succeeds, they typically make a much greater return on their investment than interest rates. In other words, equity financing is far more expensive if your company is successful, but far less expensive if it isn t.

Because investors take on a much higher risk than lenders, they are typically far more involved in your company. This can be a mixed blessing. They will likely offer advice and connections to help grow your business. But if their plan is to exit your company in 2-3 years with a substantial return on their investment, and your motivation is the long-term sustainable growth of the company, you may find yourself at odds with them as the company grows. Be careful not to give up too much control of your company.

Let s take a closer look at the many options available for startups.

Friends and family are still your best source for both loans and equity deals. They are typically less stringent regarding your credit and their expected return on investment. One caveat: structure the deal with the same legal rigor you would with anyone else or it may create problems down the road when you look for additional financing.

Prepare a business plan and formal documents–you ll both feel better, and it s good practice for later.

Credit cards are a great tool for cash flow management, assuming you use them just for that and not for long-term financing. Keep one or two cards with no balance on it and pay it off every month to give yourself a 30 to 60-day float with no interest. And the low introductory rates on some cards make them some of the cheapest money around. Managed well, they re extremely effective; managed poorly, they re extremely expensive.





Small Business Loans, Minority Start Up Business Loan for Women with Bad

Small Business Loans

Are you tired of shopping around for the lowest commercial loan rate in the market or simply getting a quick approval for a small business loan to help jumpstart your business?

We are a leading financial service company offering our clients a wide array of business financing solutions tailored to meet every specific business needs. Our financial products include but not limited to commercial real estate loans, small business loans, cash advance, and a newly developed business loan express program that can finance your business within a 72-hour funding time.

We have a high approval rate for borrowers with various circumstances.

Whether you’re requiring specific incentive program such as a small business loan for minority or small business loan for women, we will find the best business loan program for you. Our wide network of direct lending relationship provides an opportunity for us to place you in the best loan program that fit your business needs.

Start Up Business Loans(SBA Loans)

SBA Loans are fully amortized for the length of the term ranging from 7 to 25 years depending on the use of the loan. No balloon payments at the end of the term. And up to 90% financing meaning only a 10% down payment is required by the borrower. SBA Loans are guaranteed by the government therefore providing the market with extremely competitive rates for small business loans up to $5,000,000. These small business loans can be used for commercial real estate purchases, working capital, as well as other uses sanctioned by the government.

Veteran Business Loan Minority Business Loan

With over a hundred direct lending relationships available, we can offer the best incentive programs for our borrowers. We have a high approval rate for borrowers because we are not limited to a few programs available from a specific bank or lender. We also are able to provide incentive small business loans for veteran, women and/or minorities. These incentive programs for women and minorities may include reduced rates, quicker approval and funding, as well as many other benefits for veteran business loans.

Business Credit Card

With the highest approval rate among all types of financing, business credit cards are the most recommended form of funding by MyOwnBusinessLoan.com. A revolving line of credit can be used on inventory and normal office expenses. Once inventory is sold and profit is made, the line of credit can be paid off and used again to purchase additional inventory to be sold. A business credit card makes it easy for a start up business owner to track expenses through the credit cards monthly statement and report.

Business loans for women

Business loans for women

Business loans for women





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Business insurance includes cover that protects you and your company from financial damages andbuilding or contents losses, relevant to your field or specialism.

Broadly speaking, the most popular business insurance policies include public liability, professional indemnity and employers’ liability, with good reason:

Public liability insurance

Hell hath no fury like a scorned member of the public, especially when it comes to claims.

Public liability insurance protects you if you damage their property, if they have an accident on your premises, or if you provide any advice or service (that doesn’t pan out) for a fee.

Professional indemnity insurance

If one of your customers sues you because you’ve damaged their property, or they claim you haven’t fulfilled your duties, professional indemnity insurance to the rescue to cover your legal fees.

Employers’ liability

It’ll cover the cost of the compensation plus legal fees if an employee sues you if they’re injured, or they contract a disease at work.

But different policies will include all sorts of other cover, and you can make your policy suit the nuances of your business – fancy, eh?

You can read all about more specialist business insurance in our guides and tips filed away in the Business insurance briefcase.

Company insurance comparison


Business notes


  • Employers’ liability insurance is compulsory for businesses that have one or more employees
  • Glass and shutters insurance can cover replacement following accidental or malicious damage

To compare business insurance for your company, you’ll need details about your business and the level of cover you want. That includes public or product liability insurance, professional indemnity cover, buildings insurance, revenue protection or business interruption cover, protection for your business and office equipment and stock.

Start your business insurance quote

Have to hand info about claims made by your firm in the last five years, or any pending.

Depending on the sort of cover you choose, you may also be asked for some more detailed info about your company and its work.

You’ll then either be presented with your quotes online, or – if your circumstances don’t allow for an instant quote – your details will be passed on to an insurance specialist to look at.

Need to know more about business insurance?

Simply Business has insurance specialists on hand in the UK to chat through any questions you have, so don’t be nervous – give them a call if you’re unsure.

But, we’ve also got heaps of guides, tips and factoids stowed away in our Business insurance briefcase to help you with any quandaries – we’re straightforward, so you won’t find buzzwords or marketing jargon here.

The guides help you with your first steps, such as sensible levels of cover, business contents insurance, business buildings insurance, differences if you’re a landlord or a tenant, options for working from home, and insurance for your business assets and equipment.

We unpick the technical cover, too. Watch out for guides to liability insurance, professional indemnity insurance and employers’ liability insurance.

Plus, check out info about goods in transit cover, business travel insurance, business interruption cover, commercial legal insurance, fidelity guarantees, and insurance cover for tools, data processing, engineering, credit, loss of cash, and glass and shutters.

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    Huge, Digital Agency, Strategy, Design, Marketing – Technology, ideas for new business.#Ideas

    ideas for new business

    Read our latest articles on design and technology. →

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