What is an SBA Loan and How Do I Qualify?

Posted by & filed under Business Line of Credit, SBA Loan Facts, SBA Loans, Small Business Association (SBA).

SBA loan

The U.S. Small Business Administration (SBA) is a federal agency committed to supporting the growth and development of small businesses by partnering with lenders to provide a SBA Loan. It is important to note that they are not the loan provider but work with other lenders to support and administer the loan. The purpose of the SBA is… Read more »

What To Do When the Bank Says No

Posted by & filed under Alternative Lending, Building Credit, Business Line of Credit, Business Loans, Small Business Loans and Business Credit.

alternative-business-lending

It can be hard to grow a business when banks want you to have established business credit or solid collateral and there just isn’t enough yet for you to get approved. Luckily, we live in an era where banks are merely one of many options to choose from. Did the bank say no? No problem! Check… Read more »

What You Need to Qualify for a Startup Loan

Posted by & filed under Alternative Lending, Building Credit, Business Line of Credit, Small Business Loans and Business Credit, Startup Lending, Startup Loan.

startup-loan-lending-bitxfunding-ct

While there’s no secret formula to getting a start-up loan, there are certain things you can do to improve your odds. Here’s what you need to be ready for in order to qualify. What Does It Take to Get a Startup Business Loan Typically, to be considered for a start-up loan you need your personal… Read more »

Startup Business Loans

Posted by & filed under Alternative Lending, Building Credit, Business Line of Credit, Business Loans, Credit Card Stacking, Small Business Loans and Business Credit.

credit-card-stacking

How Does Credit Card Stacking Work? Credit card stacking lets you use multiple credit cards to finance your business. Lenders don’t call credit card stacking by its name because most people have a negative perception about credit cards. Instead, you might see it referred to as an “unsecured business credit line for startups” or “FICO… Read more »

It Was the Best of Times, It Was the Worst of Times: When to Get a Small Business Loan

Posted by & filed under Business Line of Credit, Business Loans, Small Business Loans and Business Credit.

small-business-loan-ct

Times are good. Your business just got a great story written about you in the local paper, your customers love you more than ever. Sales are up, costs are down, the business is humming just like you dreamed it would be. What now? Rest on your laurels and relax? Now would be a great time… Read more »

8 Differences Between a Business Loan and A Line of Credit

Posted by & filed under Business Line of Credit, Business Loans, Small Business Loans and Business Credit.

business-loan-vs-line-of-credit

When you need some money to start, build, or grow your business, you’ll want to know the differences between business loans and business lines of credit. Knowing the differences will help you make the best decision about what is best for you and your company at the moment you need capital. Here are 8 ways… Read more »

Are You Credit Worthy?

Posted by & filed under Credit Ratings, Credit Score, Five C's of Credit.

Five-C's-Credit

What are the ‘Five C’s of Credit’ The Five C’s of Credit is a method used by lenders to determine the credit worthiness of potential borrowers. The system weighs five characteristics of the borrower, attempting to gauge the chance of default. The Five C’s of Credit are: Character Capacity Capital Collateral Conditions Banks use rigorous policies and analyses when determining… Read more »

Connecticut’s Small Business Express Lending Program

Posted by & filed under Connecticut's Small Business Express Lending Program, Small Business Loans and Business Credit.

ct-small-business-express-lending

The Small Business Express Program (EXP) provides loans and grants to Connecticut’s small business to spur job creation and growth. Small Business Express Program Fact Sheet Small businesses with operations in Connecticut, registered to conduct business for not less than twelve months, in good standing with all state agencies and with the payment of all state taxes,… Read more »

The Best Way To Repair Your Credit Quickly

Posted by & filed under Building Credit, Rebuilding Credit, Repair Your Credit.

repair-your-credit-bitx-funding-ct

There are THREE CHOICES to improve credit reports, identity theft, and consumer information: DO IT YOURSELF  HIRE A REGULAR NON-LAW FIRM Credit Repair Company HIRE AN ATTORNEY Make an Immediate Impact: Do it Yourself Review your credit reports for accuracy. Your report may contain inaccurate information or might be missing important credit information. Contact the credit reporting… Read more »