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Smarter Finance USA Blog

15 Ways to Access Small Business Startup Loans

Posted by Rob Misheloff

Are you thinking about starting a business, or have you recently started a new venture? 

You certainly aren't alone. In fact, 543,000 small businesses are started in the United States every month

That's the good news. Less good: half won't make it until year 5. 

The biggest challenge you're likely to face is not having access to the money you need to fully execute your business plan.

Think of your business like a video game: you don't want to play Super Mario Brothers with only one Mario. You want 5 "lives" because somewhere along the way, you're going to press the wrong button. Money for your business doesn't guarantee success, but having access to "do-overs" certainly makes it more likely. 

The biggest tragedy to all this:

There's plenty of money out there for startup business loans.

You just may not know all the rocks to look under. Let's look at 15 ways you can access money for your new business. 

Special Note: If you have a credit score of 700 or greater, just about the best start up business loans program we've seen offers up to $150,000 at rates from 7-10%. You may inquire about this program by clicking here.


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Topics: Leasing, Small Business Loans, Alternative Loans, factoring, Startups

Are Merchant Cash Advances a Scam?

Posted by Rob Misheloff

Have you been pitched a merchant cash advance?

I bet the dude (or dudette...) you spoke with didn't quote a real interest rate, right?

They'll tell you that cash advances don't have an interest rate..

...because merchant cash advance lenders simply take a portion of your daily credit card sales. 

That way on good days you pay more...

...and on bad days you pay less...

Doesn't that sound just peachy?

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Topics: Small Business Loans, Problems With Business Lending

Dental Practice Financing: What are the Best Loans for Dentists?

Posted by Rob Misheloff


Are you considering a dental practice loan?

You'd rather perform a root canal on yourself than talk to 13 different companies to find the information you need.


Here's the problem:

(Almost) every website you go to will tell you why their dental financing product is great...

... but the truth is, there is no "best" product.

The best way to finance your dental practice is the one that is fits best with your situation.

Let's go over some ways to finance your practice...

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Topics: Small Business Loans, Alternative Loans, medical equipment loans

Medical Practice Financing: What are the Best Loans for Doctors?

Posted by Rob Misheloff

Are you searching online for medical practice financing?

There's a big problem.

Really big...

You may have noticed...

Most every website pitching loans for doctors tells you why they are the absolute best choice for you.  

That's ridiculous, right?

The best choice for you totally depends on your situation.

Kind of like those TV ads...

(Cue in old person playing golf or with grandkids)

"...Go tell your doctor that you need super-panacea RX.

You're way better off getting medical advice from a TV commercial than from someone with 25+ years of schooling and your medical records in front of them..."

The truth is, there is no one company or product that will always be the best fit.

Let's look at different ways to finance your medical practice... and where best to look.

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Topics: Small Business Loans, Alternative Loans

Restaurant Loans: What are Restaurant Financing Rates?

Posted by Rob Misheloff

Do you need a loan for your restaurant?

Have you tried your bank?


I know... that's a silly question.

You'd have better luck buying a handful of scratchers at the gas station than trying to score restaurant financing through Bank of Whatever.

 The good news is that there are plenty of other places to look for restaurant loans.

If you're trying to figure out what your rates will be...

... now that's a totally different story.

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Topics: Small Business Loans, Problems With Business Lending, Restaurants

A Review of OnDeck Vs. IOU Central VS. Kabbage: Which is Best?

Posted by Rob Misheloff

If you're looking for a small business loan, there's a pretty good chance you've spoken to, or at least heard of, OnDeck Capital, Kabbage, or IOU Central.

All three of these lenders offer higher rate loans - IOU Central and OnDeck offer what's called "daily withdrawal", meaning that instead of a monthly loan payment, a certain amount of money is deducted from your bank account on business days (Monday through Friday). Kabbage offers a strange model which we'll go into below. 

The great thing about these loans is that, the payments are like, um, really reasonable, because it's just a small amount taken out of your account every day.

That makes them affordable, right? 

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Topics: Small Business Loans, Alternative Loans

Bloomberg Gets it Wrong in Article Regarding Subprime Small Business Loans

Posted by Rob Misheloff

A recent article in Bloomberg entitled Wall Street Finds New Subprime With 125% Business Loans talks about the recent phenomenon of extraordinarily high interest rate business loans. The article goes on to detail the exploits of a company called World Business Lenders and how a loan they offered carried a 110% interest rate.

Bloomberg's reporter got the math wrong. The loan they describe is actually a 170% interest rate.  

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Topics: Small Business Loans, Problems With Business Lending

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