If you've taken the plunge to start a business, first of all, congratulations! Second of all, welcome to the start of a long and challenging journey. One of those challenges is simple: money. There's overhead costs, there's salaries, taxes, and a lot of things that you don't even account for in your initial budget. So likely you'll need a loan. In the world of business loans, there's a lot of noise; first you need to know if you'll be qualified. But how? One place to start is LendingTree.
Before you can find the best vendor for you, it's essential to ask yourself a few questions to determine your best course of action. You'll first need to specify the reason why you need this loan and how it will help your business grow. Then, you need to find the right business loan for you, whether you're a startup or an established business. Businesses with more revenue history have a lot more options for how to get financed, but that doesn't mean that the little guys are left out.
After the initial steps, you need to find the right lender, whether it be through a bank, microlender, or online lender. To see if you qualify for a loan, you have to take into account your credit score, business, and payment history. It can all seem like you're in over your head, unless you go the simple route. Here's why LendingTree is one of the easiest ways to see if you'll be approved for a loan.
LendingTree is a company that will find you the best deal on your loan by giving their customers competing loan offers in just 24 to 48 hours. Here's how it works. Go to their website, click on business loans and "get your free offers." Then select your business type (LLC, sole proprietor, Partnership, Corp, or S Corp) and choose the amount you're looking to borrow (anywhere from less than $15k to over $300k). Enter your business inception date and current annual revenue, then answer a few simple questions about your business history and you'll receive results quickly! LendingTree's network includes loans such as SBA loans, Short and Long Term Business Loans, Working Capital Loans, Accounts Receivable Financing, and Business Credit Cards.
You've already made it so far by establishing your business, so don't let your business fail because you don't know how to properly apply for an affordable loan. LendingTree gives you the tools to save money on loans so you can focus on the important things, like growing your business.