CLAYTON BARKER LOAN FIRM

Businesses may need to spend time analyzing their cash flow to apply for a loan with some lenders. Whether you've just started your small business or have operations quickly expanding, you may need a loan to support your growth. If you are thinking about applying for small business loans, you should carefully decide which loan is right for you.* Here are the six things to consider when getting a small business loan: 1. Your current business and personal credit score  Before you submit your application for financing, you should review your personal and business credit reports. Not only can your credit standing affect your chances for approval for the loan, your costs of borrowing could be high depending on your credit history. Review both your personal and business credit reports to determine whether you should improve your credit before moving forward with your application. 2.  Whether you need collateral As you research your options for small business loans, you w

Are you interested in applying for business working capital, but have heard things about the process that make you apprehensive? We’re here to set the record straight! There are some myths about working capital that aren’t true; and the reality is that with small business working capital you’ll have extra cash to use for the areas of your business that need upgrading. Read this post, and you’ll be set straight when it comes to working capital solutions: – Myth #1 : It’s the same as getting a bank loan – Many individuals assume that applying for a bank loan and a small business loan from an alternative financing company are similar procedures. It is actually the opposite! Applying for a bank loan can often take months, and you still may not receive the financing that you need. In addition, their qualifications are usually stricter than most lenders. That’s why if you need financing within the immediate future, and don’t want to have to worry about meeting strict requirements, i

As you probably already know, maintaining an above average credit score is immensely important when it comes to running a small business. This can be especially pivotal when you’re in need of additional working capital, and are considering applying for a small business loan from a lender. In this post, we’ll offer tips on how to get a business loan with bad credit, and a few ways to build business credit. Let’s get started, so that your business can get the financing it needs! 1. Research credit score requirements – In the preliminary stages, do research on which lenders supply loans for small business owners with bad credit. This will be especially important if your credit score is under 500. Some lenders are relatively lenient on this, but a less-than 500 credit score may make a lender apprehensive about working with you. Don’t waste your time applying with a lender if you don’t meet their credit score requirements. Instead, focus on ways to build business credit, and app

In any industry, some companies are better than others. It’s usually not too hard to figure out what separates the good from the bad, but when it comes to borrowing money for your small business, it’s not always as easy as it seems. With all the online business loans available these days no two online lenders offer exactly the same rates and terms. So shopping for the right loan to suit your business purpose is just as important as actually getting approved for the loan. Be a smart borrower The recent influx of options within the small business lending landscape is making more capital available than ever before. However, borrowers need to become smarter in how they evaluate those options to ensure they make the right choices. Don’t be afraid to dive deeper to make sure you understand the pros and cons of any potential small business loan so that you can make an informed decision. When looking for a business loan, it’s important to ask yourself these four questions: What is

When you see your business on a continual upward trend it may be time to start thinking of expanding your business into a second location. It will give you another location to serve additional customers, and an opportunity for growth. Making the decision to run your own business isn’t for the faint of heart. That is why often times when a business owner finds success with their business they will quickly look into ways to expand. For some this could mean branching out from a large partnership, but for many small business owners it could mean opening a new location. What many do not always know is that with expansion comes A LOT more work, that you may not have accounted for. There are no written rules that state when a business is “ready” to expand into a new location. For many business owners, just like deciding to open a business, it will be a leap of faith. Today we want to discuss some points that may help you determine if you and you’re business are ready to expand into a s

If you are considering applying for a small business loan to grow your business then people are probably telling you you need to be a homeowner? In this article we debunk that myth! We will look at why some lenders do require or prefer you to be a homeowner and why Clayton Business Loans is different. There are two main reasons why some lenders require - or at least prefer - you to be a homeowner. The first is as security for the small business loan. The second is as confirmation of your creditworthiness. Let’s look briefly at both of these. Secured loans If you own a property and have a reserve of personal equity tied up in the home, this can be used as security against the loan. From a lender’s point of view it means that should anything go wrong with your business then equity from the home could be used to repay the loan. Securing a loan on your property could sometimes make the difference between yes and no to the outcome of your lending decision. However, if you are e