Blog and News

The most recent blog posts from our BC experts.

Posted By: Jordan Gundersen  |  July 5, 2016

When dealing with large banks, getting the funds your business needs can be a long and arduous process. Over the last several years, many alternative online lending companies have entered the scene to make the process of getting a loan easier and faster. Two of the largest alternative lenders, Funding Circle and Lending Club, offer […]

Posted By: Jordan Grimmer  |  May 10, 2016

The small business lending landscape is changing. According to a 2014 report from Ernst & Young, “nearly one in five [small businesses] reports having changed its primary bank in the past year.” The reason: access to capital; an increasing number of small business owners feel they can no longer rely on traditional lending channels to […]

Posted By: Jordan Grimmer  |  December 23, 2015

What Is an Unsecured Business Loan? An unsecured business loan is based solely on an individual’s financial integrity, business record, and character within the community. Based on these aspects, a lender may decide to provide a loan to an individual without requiring any collateral if they are in good standing. In order to obtain an […]

Posted By: Jordan Grimmer  |  December 8, 2015

Microloans were established and are funded by the U.S. Small Business Administration. The idea behind microloans is to provide a quick start up for smaller companies or for lower income individuals. The limit for a microloan is $50,000, but most loans are usually under $20,000. The SBA provides these funds to lenders who then distribute […]

Posted By: Jordan Grimmer  |  December 7, 2015

A Merchant Cash Advance, or MCA, is the agreement between a merchant and a lender to allow for smaller payments on an amount borrowed, rather than larger payments over a longer period of time. In this agreement, merchants essentially “sell” a percentage of their debit and credit card earnings to the lender. The lender is […]

Posted By: Jordan Grimmer  |  December 4, 2015

When you apply for a small business loan, lenders will often look at both your personal and business credit scores. Creditors usually accept a business credit score of 75 and above (based on 1 to 100) and a personal score of at least 640. As you’ll recall, these two scores are calculated by taking into […]

Posted By: Jordan Grimmer  |  December 3, 2015

More often than not, when someone borrowers money from a lender, the lender needs some kind of insurance that the money will be paid back. A general lien is insurance for a creditor, or lender, in the form of collateral. This lien is a signed agreement between the lender and borrower that gives the lender […]

Posted By: Jordan Grimmer  |  December 3, 2015

In almost all cases, business lenders will look at both your personal and business credit scores. This is done because both credit scores show your spending habits, both as an individual and as a business owner. Lenders are more likely to trust you and authorize loans in your behalf if you have good credit scores. […]

Posted By: Jordan Grimmer  |  November 20, 2015

The five C’s of credit include: Capital, Collateral, Capacity, Character, and Conditions. Capital Capital, in general terms, is one’s wealth. This wealth is determined by an accumulation of one’s assets, and these assets are things like investments, homes, property, and finances. The amount of capital that a potential borrower has is important to lenders because […]

Posted By: Jordan Grimmer  |  November 17, 2015

Collateral, in general, is a guarantee to a lender that if a borrower cannot pay their debts, the lender can appropriate pledged assets. Collateral tends to be physical items or assets. For example: a home, cash, property, etc. Collateral is a huge part of the lending process because it protects the lender. Without collateral, a […]