Blog and Industry News

If you needed working capital in the past, it was fairly inaccessible for small business owners who didn’t have the proper credentials, documents, and credit scores. Small business loans were even more scarce after the economic downturn in 2008. Banks became notorious for taking months to get underwriting approval for small business loans and turning down about 90 percent of those applying. Most startups and young businesses had to use bootstrapping methods or personal credit
While the banking industry plays “catch up”, the non-bank direct lending industry continues to forge ahead and lead the pack on small business loans. Banks have fallen behind, with their cavernous offices that echo from the lack of in-person customers to their lack of streamlined services. One has to wonder when they are going to notice that they have lost an enormous amount of potential borrowers to alternative lenders. It’s true, bank websites are beginning
Tips on How to Get a SMB Loan Approved Best Steps to Getting a SMB Loan Many business owners are turning to alternative lending options when they realize traditional banks have stringent and exhausting loan ualifications. Getting a small business loan should not require a stream of documents that have little to do with one’s ability to repay. A great credit score is always helpful; however young businesses often experience peaks and valleys while they
Understanding the Small Business Loan Process Small Business Loan Process – Simplified It really isn’t rocket science, although it sure feels like it when going through the traditional small business loan process. Banks tend to mystify their processes so customers can never figure out how much they are really paying for a loan – unless asked. Between application fees, set-up fees, loan doc fees, and interest, it adds up. Over the past few years transparency

How to Build Credit for Your Business

Posted by Greenbox Capital on February 11, 2019
Category: Blog
How to Build Credit for Your Business If you haven’t been in business for very long or have not yet established credit, it should top your to-do list.  Establishing business credit should be a priority for any small business owner for two reasons: 1.It separates your personal credit history from your business and allows both to run somewhat independently. If your company is structured as a sole proprietorship or general partnership the government will consider
If you are a Canadian or have ever been around people from Canada, you probably already know. The Canadian culture breeds no nonsense people who are bright and don’t want to go through additional and unnecessary hoops to meet their financial goals. Small business owners don’t have time to search high and low for a financial intermediary to steer them in the most effective direction when it comes to funding. They want and need to
Looking for a small business loan can be intimidating if you aren’t familiar with the process. What information do they need? What numbers count in my favor? What are my chances? Gaining access to working capital means understanding what traditional lenders look for before approving a small business loan. It’s not as simple as it should be here. Here’s how you can tell if you are a good candidate for a traditional lender. Be Prepared
Suppliers often put restrictions on how much merchandise they send and demand immediate payments. They add stress and strain to your already busy schedule while you try to live your dream of running your own business. Don’t you just hate that? We have good news! There is a way to get the inventory you need without having to wait or struggle to find the money. A short-term inventory loan is one option within inventory financing
Like any small business, you may come across a situation where you are in need of a sudden lump sum of cash. Though you may be running your business by the book, there are always surprise situations that can suddenly arise. If you don’t have a rainy-day fund or enough back-up cash on hand, it doesn’t represent a lack of planning or forethought on your end; there is only so much you can be prepared

What a Small Business Loan Really Costs

Posted by Greenbox Capital on December 4, 2018
Category: Blog
The truth is, small business owners don’t have endless access to money. The first months of any company are the most crucial, and some businesses don’t start making a profit for years. Money may be tight, but with just enough capital, business owners will survive the toughest months and years of their company. That’s why it’s important to understand the true cost of a small business loan. Many traditional lenders will have you believe that