Source: PYMNTS
According to an article on PYMNTS’ website, tariffs will hurt small businesses since many small business owners do not have the resources to deal with the fast changes and associated costs increase. The challenges will be many; including finding U.S. suppliers for good they currently imports. One can imagine the level of cost increases and new expenses many small businesses owners will have to deal with before establishing and stabilizing a new structure for their business.
Will your business be affected by the tariffs?
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April 15, 2025 | admin
Source: LoanNEXUS
Getting a small business loan can be challenging for many entrepreneurs, especially if they are new to the market or have a low credit score. There are several factors that lenders consider when evaluating a loan application, such as the business’s credit history, collateral, income, debt, and capital investment. These factors help lenders assess the risk and profitability of lending to a small business.
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March 27, 2024 | admin
Source: LoanNEXUS
There are different types of financing for small businesses, depending on their needs, qualifications and preferences. According to the Library of Congress, financing for small business can be classified into two main categories: equity financing and debt financing. Equity financing is funding given in exchange for partial ownership and future profits, while debt financing is money that must be repaid, usually with interest.
Some of the most common types of debt financing for small businesses are:
Term loans: These are loans that are repaid in regular installments over a fixed period of time. Term loans can be obtained from banks, credit unions or online lenders, and can have low interest rates and competitive terms for well-qualified borrowers.
SBA loans: These are loans that are guaranteed by the U.S. Small Business Administration (SBA), which reduces the risk for lenders and makes it easier for small businesses to access capital. SBA loans can be used for various purposes, such as working capital, expansion, equipment or real estate. SBA loans have low interest rates and long repayment terms, but they also have strict eligibility requirements and a lengthy application process.
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May 28, 2023 | admin
