Mainshares’ Post

What is an SBA 7(a) Loan? https://lnkd.in/e2Z-5zri #SBA #SBAloan #SBAlending #smallbusiness #smallbusinessfinancing #businessloan

What are instant personal loans? Here are 6 essential features that define them #personalloan #interestrates #financialassets #thespuzz

Given we are in a time of higher interest rates, if you have business loans there are some great insights shared in this article. https://ow.ly/c0HY50Q4nkU #BusinessPlanning #Strategy

𝐔𝐊 𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐋𝐨𝐚𝐧𝐬: 𝐌𝐢𝐧𝐢𝐦𝐮𝐦 𝐑𝐞𝐪𝐮𝐢𝐫𝐞𝐦𝐞𝐧𝐭𝐬 𝐚𝐧𝐝 𝐇𝐨𝐰 𝐀𝐁𝐅𝐋 𝐂𝐚𝐧 𝐇𝐞𝐥𝐩 Looking to secure a business loan in the UK? ABFL has got your back to help you navigate the tricky world of financing! Asset Based Finance and Leasing Ltd. (ABFL) is aware of the challenges of obtaining a business loan in the UK, particularly in hard times. While the specific requirements may vary depending on the lender, most will want you to meet a few basic minimum standards. Business owners may be asked to provide a personal guarantee by certain lenders, particularly for smaller loans with little collateral. This suggests that items of value could be placed as loan security. Business owners should carefully review all loan offers' terms and conditions, including interest rates, repayment plans, and any penalties related to early repayment. At ABFL, we can guide you through the loan application process and offer suggestions on the most advantageous financing solutions for your company's requirements. We can leverage the assets of your company rather than just depending on your creditworthiness or financial records to secure a loan. We guarantee a smooth and successful transaction with continuous support, and if hard times make loan repayment challenging, we provide other options to help you manage your debt better. Our mission at ABFL is to support the growth of companies. Get in contact with us to learn more about our services and how we can support you during these trying times. #AssetBasedFinance #BusinessLoans #WorkingCapital #FinancialSupport #Finance

Bank will also lend money against the guarantee given by the third party on behalf of the borrower. In the case of a guarantee, the guarantor will be liable to pay a balanced amount if the borrower fails to do so. #2 – Unsecured Loan Unsecured loans are neither secured against any asset nor any guarantee is provided to the Bank. A borrower with a great history of the settlement of dues, good credit rating, and sound financial records will generally get an unsecured loan. Unsecured loans are usually provided by small banks, ‘Patpedhies,’ and relatives. #3 – Classification Based on Duration Let’s discuss classification based on the duration. #1- Short Term Loans These loans are given for a shorter duration, say one month to one year. Credit Card Loans: These usually are given for one month. The Bank issues credit cards to borrowers to facilitate the day-to-day needs of businesses and individuals. Credit cards are issued to sales managers with a specific limit to spend expenditure on travel and sales-related expenses. Individuals use credit cards for day-to-day requirements. Cash Credit Facility or Bank Overdraft Facility: This is extended to current account holders to withdraw more than the debit balance of the bank account. CC or bank OD facility is mainly used when a business has a cash crunch and must settle sudden liabilities. Working Capital Loans: These can be short-term or long-term in nature. It depends on the working capital cycle of the company. The working capital cycle may be more than twelve months in an industry that sells seasonal goods. A working capital loan is required when companies cannot manage working capital effectively. The credit period allowed by vendors is lower than the credit period allowed to debtors , and the stock turnover ratio is higher when the need for working capital loans arises. The Stock turnover ratio means how quickly businesses can convert stock into sales. #2 – Long Term Loans These loans are given for longer, say three to five years or more than that. These loans are provided for the expansion of business, diversification of product portfolio or business, substantial investment in fixed assets, and real estate where the cost to buy such assets or investments is so vast that repayment of the same within a year is not possible.

Unsecured loans can offer several important advantages over secured loans and may be the type of funding that your business needs to grow. They’re uncomplicated, flexible, and quick to access, so let’s look at these elements and advantages in more detail. https://lnkd.in/em6_HEiN

Business owners looking to take out an SBA loan must do their due diligence, including determining whether they are required to provide a personal guarantee. Keep reading to learn more about this important topic and get deeper insight into the SBA lending process. #sbaloans #commercialloans https://lnkd.in/gmwuGzqa

Unsecured loans can offer several important advantages over secured loans and may be the type of funding that your business needs to grow. They’re uncomplicated, flexible, and quick to access, so let’s look at these elements and advantages in more detail. https://lnkd.in/em6_HEiN

For many businesses, opting for a business loan from an NBFC presents a more attractive option than traditional banks, and there are several compelling reasons why. In today's blog, we delve into why opting for a business loan from an NBFC might be a better choice than traditional banks. Read on. #Protium #FuelingAmbition #EngineeringFinance #ProtiumBlog #MSME #MSMELoans #CreditRisk #FinancialHealth #NBFC

The SBA requires that every 7(a) loan be guaranteed by at least one individual or entity. So who is required to guarantee a 7(a) loan? Find out in the article below. #SBA #SBAloans #smallbusiness