Restructuring a business loan means permanently changing its terms to make monthly payments more manageable. But you’ll have to negotiate with your lender and prove financial hardship to qualify.
Interest-only payments on a business loan may give you short-term relief if you’re facing financial difficulties.
Unsecured business loans make the most sense when you need money fast, you don't have assets to pledge or the amount is small enough that a higher rate won't strain cash flow.
Purchasing cards, or p-cards, let your employees spend money on your business’s behalf.
Short-term business loans trade speed for cost — you get cash fast, but pay more for it through higher rates and a frequent repayment schedule.
Secured business loans can be a good option for borrowers with substantial physical assets who are confident in their ability to repay a loan.
Funding your business can feel like an uphill battle. Here’s how Black entrepreneurs can take control and find support.
Speed is worth the extra cost when waiting would cost you more — think an emergency repair, not a standard inventory restock. If you can’t put a dollar figure on that cost, you probably don’t need the fastest funding.
If anything, remember you’ll make tax payments more frequently than you file tax returns.
You’ll stand a better chance if you give a good reason and advance notice.
