Making More Money While Spending Less Making More Money While Spending Less

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Making More Money While Spending Less

After carefully evaluating my financial situation, I could tell that some things needed to change. It seemed like I was constantly letting my checking account run dry, and it was really frustrating for me. I wanted to live without constantly worrying about finances, so I took a good hard look at how I was spending my money. That simple decision completely changed my life. Within about three months, I finally felt like I had a handle on things. This blog is all about making more money while spending less, and learning the budgeting skills you need to have a better life.

Sources For Hassle-Free Small Business Loans

Small businesses need loans just as much as large businesses. In fact, most small businesses cannot survive the first five years without having some sort of loan or extension of credit. If you are starting a small business or you own a small business that has not been open and running for very long, trying to get SBA loans is usually very difficult. Here are a few lending sources you can try for hassle-free SBA loans.

Business Loans Offered by Mobile Payment Apps

It is the business world's best-kept secret. Most business owners are not even aware that this is a service offered by mobile payment and mobile wallet apps. If you have a business account with these mobile payment/wallet companies, they have small business loans they can offer to businesses who receive a large portion of their profits via the payment/wallet apps. You may need to do some digging because these loans are not automatically offered or featured on the websites of these apps.

There is an application process, and usually, a flat fee is attached for borrowing whatever amount of money you are offered and agree to take. Repayment begins with the next payment your business receives through the app to your payment account. The best part is that no credit check is needed; the amount of business you conduct through the app is your "credit" rating with these companies for the loan. 

Business Receipt Loans

If your business does not use mobile payment or wallet apps, then your next best option is a business receipt loan. These companies look at your business income and receipts from the previous month or three months. Then they make you a loan offer based on your profits from those receipts. If you did very well in the last three months, now is definitely the time to apply for such a loan because your recent success rate will increase the amount of the loan offered to you. 

Business Loans From Credit Card Companies

This is a business loan. It is not a credit card or a line of credit. Instead, it is a loan that is akin to a hybrid credit card/loan situation. You will get a separate card that works like a debit card so you can access the loan funds, and there is monthly interest accruing on the loan. People who typically do not qualify for a credit card with these companies may be able to get the business loan instead.