Category: Business Financing
3 Types of Financing that Make Sense for Funding Inventory
Keeping the shelves stocked with what customers want to buy is sometimes a challenge for a small business owner trying to manage his or her other cash flow needs too. Fortunately there are inventory-financing options that can help you keep inventory on the shelves and your cash flow under control. What Type of Inventory Financing…
When Do Short-Term Business Loans Make Sense for Your Business?
There was a time not too many years ago when the local bank was the only place to get a small business loan. For a number of reasons, that isn’t always the case today. In fact, loan purpose, credit profile, and other factors play an important role in determining where a small business owner should…
A Business Line of Credit – What You Need to Know
Similar to a personal line of credit that leverages the equity in your home to provide extra cash for home improvements or other household needs, a business line of credit is a revolving credit line that gives business owners access to a fixed amount of money they can use to meet short-term capital needs. A…
5 Tips to Help You Qualify for a Business Credit Card
The temptation to use personal credit to pay for business expenses can be tempting for many small business owners—particularly when other small business financing is so hard to come by. Nevertheless, you should avoid the temptation. Using your personal credit cards, for example, to pay for business expenses can actually damage your personal credit score,…
Leasing vs. Buying: What Makes Sense for Your Business?
You don’t need to be a construction company that uses heavy equipment or a manufacturer who needs machine tools to take advantage of equipment leasing or an equipment loan. Almost any equipment required to do business can qualify—including computers or even a pizza oven. Think of equipment with a high dollar value that is considered…
Understanding Common Small Business Loan Terms
There’s a lot that goes into choosing the right small business loan. In a previous blog post we talked about some of the common qualifying criteria associated with a small business loan, today we’re going to talk about some of the common loan terms, typical loan amounts, and how long it takes to get funds…
How to Find the Right Business Loan
There are more business loan options available today than ever before. Nevertheless, knowing where to look and what to look for among traditional lenders, online lenders, non-profit lenders, and crowdfunders can be confusing. Today we’re going to talk about some of the basic qualification criteria to help you focus your search in those places where…
Small Business Loans: Convenience and Capital
I’m not convinced there’s a one-size-fits-all business loan that meets the financing needs of every business. I do believe there are some pretty compelling reasons why online financing options are a good fit in certain circumstances: 1. Convenience: It’s no secret to any small business owner who has ever sat across the desk from their…
Video: Tips for Running Your Small Business Better (Part 1 of 4)
When we asked business owners like you how they viewed small business financing, we overwhelmingly heard two things: Most business owners are not aware of their financing options Banks don’t do a great job of explaining what financing options are out there Well, we heard you loud and clear. We’re taking steps to demystify the mystery…
Small Business Loans and Bad Credit?
While it’s true, a good personal credit score is an important metric small business lenders use to evaluate a business owners credit worthiness, a less-than-perfect credit score doesn’t rule out a loan provided other metrics look good. Before you start looking for loan, make sure you have a handle on these four things: 1. What…
Webinar Recap: An Insider’s View to Securing Capital to Grow Your Business
Last week we teamed up with our small business education partner SCORE to provide an insider’s view into the new world of business lending in a live webinar. Ty Kiisel, contributing editor at OnDeck, spoke to nearly 300 live listeners to demystify the new landscape of small business lenders. He covered the five major types…
When You Need to Get a Business Loan Fast
There are times when a small business owner doesn’t have the luxury of weeks or months to find a small business loan for his or her business. Sometimes an opportunity to purchase inventory at a discount, launch a marketing campaign, or even deal with a crisis happens so quickly they need access to capital right…
Getting a Small Business Loan—What You Need to Know
At OnDeck (learn more about our business loans here) we’ve delivered over $2 billion to businesses since we started making small business loans in 2007. After talking to all of those business owners—and countless others—many tell us they wish that had known how to better prepare for the search for a loan. With that in…
OnDeck is Expanding in Canada: Welcome to Our Canadian Neighbors
Since 2007 we’ve delivered over $2 billion to businesses all across the United States in more than 700 industries and have been lending in Canada since 2014. Today we’re announcing that OnDeck will now be offering loans up to $150,000 (CAD) to the approximately 1.1 million small businesses in Canada. Small business is the lifeblood…
Put Friends and Family Business Loans in Writing
According to the Pepperdine Graziadio School of Business Management’s most recent Private Capital Access Index for Q1 of 2015, small business financing success rates for loans from friends or family remain very high for business owners seeking financing. 68 percent of the business owners surveyed who sought funding from a friend or family member found…