Category: Business Financing
How many business credit cards is too many?
Business credit cards are commonly used as a source of small business financing. According to the U.S. Small Business Administration, 65% of small businesses use credit cards to fund their budgets, at least partially. There are many questions that all small business owners know they have to answer when they take out a credit card…
You know you’re a west coast business owner when….
It seems that West Coast business owners live in a different country than most others – one with year-round sunshine and organic products aplenty. If you want to see whether you could fit in that box – or if you’re a West Coast business owner yourself – then check out the maxims listed below. 1.…
What’s the difference between secured and unsecured loans?
As a small business owner, it’s important to understand the distinction between “secured” and “unsecured” when searching for financing. Secured business loans A secured business loans means that you need to offer collateral alongside your repayment. By offering collateral, business owners afford lenders a way of knowing that they can collect on the balance of…
When is it the right time to turn to a bank?
Last week, we covered an appearance that OnDeck CEO Noah Breslow made on MSNBC, discussing how business owners can prepare before they apply for a loan. This week, we detail another set of tips he offered to small business owners: when is the right time to turn to a bank for a small business loan.…
Personal Credit Vs. Business Credit
As a business owner, it’s important to understand the difference between your personal credit score and your business credit score. Personal credit is what you build by showing trustworthiness when it comes to paying your bills on time and in full, from credit cards to automobile loans to home loans. Doing so increases your credit…
Thinking about applying for a direct loan? Read this first.
While applying for a direct loan is faster and requires less paperwork than applying for a traditional loan, it’s important to still be prepared. Noah Breslow, CEO of OnDeck, sat down with MSNBC to discuss a few best practices for small businesses looking to start the application process with a direct lender. 1. Presentation matters…
Everything You’ve Always Wanted to Know about Angel Investing
In recent years, the number of accredited angel investors has risen sharply, providing many new financing opportunities for business owners. What is an angel investment? An angel investment comes from a specific affluent individual and grants a large amount of funds to an existing business or a start-up. Traditionally, these investments are not treated as…
What is Receivables Financing?
Small business owners have many options when it comes to financing. We have previously discussed peer-to-peer lending, business lines of credit, and merchant cash advances, to name a few. So what is receivables financing? What is receivables financing, and how much does it cost? Receivables are defined as amounts owed to a business – essentially…
On Deck Team Boosts Efforts to Connect Small Businesses to Capital by Securing $42 million in Series D Financing
Yesterday, the On Deck Team announced it has raised $42 million in Series D growth financing led by a new investor, Institutional Venture Partners (IVP), alongside current backers RRE Ventures, SAP Ventures and First Round Capital. It was an exciting day over at our NYC headquarters, with plenty of media buzz from Bloomberg, TechCrunch and…
Personal Credit Score is the Tyrant in Lending
This July, the NY Times had a great article titled “Credit Score is the Tyrant in Lending”. The piece was focused on credit score in relation to consumers getting mortgages, and many of the issues are exactly the same when it comes to getting a small business loan. Some of the quotes that hit home…