Financial tools and management

Which Crowdfunding Platform is Right for Your Business?

As a small business owner, you’ve probably found yourself in the position of needing extra funds to help you expand, whether you need to buy equipment or you have a new product idea you need help developing. Traditional financing like a bank loan can take months to close between the application and approval phases, and you probably don’t have the time to wait, especially if you need a relatively small amount of cash.

The True Cost of Traditional Financing Products

Small business owners seeking funding to start, operate, or expand their businesses often fall prey to banks and lenders who are deceiving about the costs associated with borrowing. Monthly interest rates alone are not an indicator of the overall cost of a loan. Predatory lenders may hide additional costs, such as the annual percentage rate (APR), closings costs, service fees, and other fees or penalties. If you are a small business owner looking for financing, it is essential that you do your research not only to calculate cost accurately, but also to become aware of all lending options available to you.

What Small Businesses Want Most for National Small Business Week 2018

National Small Business Week, which began on Sunday, April 29 and runs through Saturday, May 5, is a time to highlight the role small businesses play in our economy. Small businesses represent 99% of all employer firms and account for half of our nation’s jobs and economic output. Innovation by small businesses spurs growth throughout the entire economy and boosts prosperity in their local communities, and NSBW is an important time to celebrate these contributions.

Take Control of Your Financial Future During National Financial Literacy Month

April is often associated with spring cleaning and reorganizing, which means you finally made the time go through that overflowing junk drawer or to organize last year’s financial statements for the tax filing deadline. But when it comes to your finances, you can use this time to do more than just file your tax return documents thanks to the resources provided as part of National Financial Literacy Month.

Filing A Tax Return On Time Increases The Odds Of Getting A Small Business Loan

This article originally appeared on Forbes.com

Rohit Arora, Forbes.com Contributor

Small business loan approval rates at big banks continued the upswing with yet another new high last month, according to the Biz2Credit Small Business Lending Index™ (March 2018 figures). Big banks (assets of $10 billion+) are granting more than one-quarter of the small business loan applications they receive. The 25.5% approval percentage, up one-tenth of a percent from February, represents a post-recession high point for big banks.

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