How to Get a Low Interest Rate on a Commercial Loan

When you are running your own business, you know you need to make every penny count. You have tried negotiating great prices on your office supplies, you have the best perks on your business credit card, but have you thought about trying to get a low interest rate on your commercial loan? Over the course of the loan term, you can save thousands in interest payments by getting that lower rate. Let’s look at how you might be able to accomplish this.

Three Types of Credit You May Not Know You Have

Every business has three types of credit: the Consumer Credit of the business owner, Bank Credit, and Business Credit. Most business owners are familiar with their consumer credit. This is credit that reports to the consumer credit reporting agencies TransUnion, Equifax, and Experian.

Equifax Small Business Credit Reports

Since its inception, Equifax has operated in the business-to-business sector, selling consumer credit and insurance reports and related analytics to a wide array of businesses worldwide. Equifax reports are still commonly used by retailers, insurance firms, healthcare providers, utilities, government agencies, banks, credit unions, personal finance companies, and other financial institutions. Equifax provides business credit evaluations for small businesses and corporations, allowing them to detect early signs of trouble by monitoring key customers, suppliers & partners.

What Is Cash Flow Lending?

Being in the banking world for any amount of time especially in dealing with business clients, you will hear the buzzword, ‘cash flow lending’ a lot. For the average Joe or Suzy on the street, this word does not hold a lot of significance and for non business owners that’s true. However, when the time comes to obtain a business loan, this word becomes all the more important to comprehend for business owners and / or principals alike for several reasons.

Business Loan Economics

To some, this observation may seem obvious, but to a VAST majority of us, this truth escapes us. Banking is a business and more so business loans are BIG BUSINESS. To add another tool in the business owner’s tool belt in their quest to obtain a loan, let’s discuss the basics of the business banking economics.

To Manage or Not To Manage? That’s the Question

O.k., I thought we were talking about business loans? I thought I’d go ahead and admit your probable initial thought when reading the title, but for good reason… stick with me here. If you’ve been reading and following any of my articles, you know that I stick with business loan category and this article is not different… just from a different angle. In this article, we’re going to discuss the importance of management and having adequate managers operating a business profitably to solidify one’s case for obtaining a business loan.

Why Get a Business Loan?

With the US economy continues to pick up steam from the Great Recession, businesses are looking for growth capital and as a result, commercial banks are beginning to be IN STYLE once again. If anything we can be sure of both as consumers and producers in the US, business cycles are a given reality that requires wisdom and discipline to foresee and adequately prepare for..

Loan Underwriting Decisions

At some point in a commercial mortgage application process, you will be told your loan is in “underwriting” or at the loan committee. This can cause fear and agitation! It’s a normal concern over a routine process. Here’s how to be prepared, ally those fears, and make the underwriting process your friend.

7 FAQs About Commercial Banking

On the outside, most commercial banks look the same. Brick and mortar. Many do the same as well. They accept deposits, make business loans, and offers related services. To find the bank that best fits what you need find those that allow for a variety of deposit accounts, such as checking, savings, and time deposit. Banks must figure out a balanced approach that is consistent with your philosophy. It’s wise to stick with the basics but include the extras. Here are seven frequently asked questions about commercial banking.

The Various Types of Loans Offered by the Small Business Administration

If you wish to start your business or if you want to expand the existing one, or for other relevant purposes, it is vital that you get acquainted with the four types of loans offered by the Small Business Administration. Popular categories include SBA 7 (A), SBA 504, Micro loan and Disaster loan.

What’s Wrong With Banks?

The problem is finding a bank to finance commercial loans. After servicing on the board and being involved with banks, there is no emphasis in taking risks in this recovering economy, and it’s not necessarily the bank’s fault! Thought on where we are, and what we can do about it.

Things to Be Considered Before Applying for a Small Business Startup Loan

Before you apply for a suitable small business start up loan it is vital that you should follow a few important things. You should gather knowledge about eligibility criteria for loan approval and other important details.

What Is a Bridge Loan in Real Estate?

Bridge loans are loans given for a short period of time granted by a bank or an agency against the equity of the property you are selling. This loan would help you to bridge the gap between the period of realization of the sales proceeds and paying money to buy a new home. So, you can use the bridge loan to fulfill your needs in the intermediate period when the sale of your home hasn’t given you cash to buy the new house. Thus, it can be understood as an interim kind of financial arrangement.

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