18Apr 2017 by Fred Crooks No Comments
Should you buy or lease your business assets?

Should you buy or lease your business assets?

Business Loans
Having previously describing the types of loans available to businesses (read here) and the benefits of SBA loans (read here), we now move on to the question of buying vs leasing. If you’re looking to borrow money for your business with the express purpose of adding new and improved equipment to your operation, you really ought to consider the pros and cons of buying vs leasing. You might think that doing one is more savvy than the other, but it really comes down to circumstance and personal preference. It might just be the case that you are adverse to leasing, preferring to own the equipment outright. But if, for example, you are adding a new vehicle to your business, you should consider how far and how often it will be…
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21Mar 2017 by Fred Crooks No Comments
The Benefits of SBA Loans

The Benefits of SBA Loans

Business Loans
Last month we explored the types of loans available to businesses (read here). Now we explore the benefits of SBA loans. SBA loans are partially guaranteed by The U.S. Small Business Administration. They offer a variety of loan programs for very specific purposes, from Small Business loans and Microloans to Real Estate & Equipment loans and Disaster loans. Depending on where you are with your business, and if you fulfill their criteria, you can borrow money from the SBA for a number of different reasons. These include: Purchase of real estate Building renovation Equipment purchase Inventory purchase Business acquisition Expansion of an existing business Business startup Refinancing of an existing debt; or Supply working capital SBA loans typically have lower interest rates and fees than the more conventional loans from…
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23Feb 2017 by Fred Crooks No Comments
A Guide to Selecting the Right Business Loan

A Guide to Selecting the Right Business Loan

Business Advisory, Business Loans
You might be in front of your laptop in a coffee shop, scribbling notes for a new startup venture. Or maybe you’re between boardroom meetings, planning the growth and expansion of an existing company. No matter where you are in the lifecycle of your business, one thing will always ring true. You will need cash. After all, cash is king. But it’s not always readily available. That’s why it’s fundamentally important that you, as a business leader, understand the ins and outs of business loans. In this series of three posts, we’ll provide you with an overview of the available loan types; the concerns you may experience as a borrower; the various push backs that can come from lenders; the benefits of SBA loans; and the pros and cons of…
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