radioactive dating examples in present day - Consolidating business debt

However, their APRs tend to be higher than other avenues you might be considering — between 10% and 28%.

Loan terms range from six months to four years, and you get your funding in as little as 10 days.

For example, if you are scheduled to pay off existing debt now in 10 years, but the debt-consolidation loan stretches the payoff date to 20 years, then you end up paying more in the long-run than if you would have kept the business debt status quo. Seek commercial debt counseling from a company that specializes in business-debt consolidation.

Typically, as part of the payment you make to the debt consolidation loan or to the business creditors, the debt consolidation company tacks on a fee for its services.

Kristie Lorette started writing professionally in 1996.

What this means is that there are tons of Americans running their own businesses.

And, in doing so, they might have taken on some debt to keep things running.

As with any form of debt consolidation, you must first be sure that the revised payments enable you to meet the day to day cost of operating your business and that you’re comfortable with the length of the new arrangement.

If not, then you are simply staving off the inevitable.So like we said, this is mostly for larger, more established businesses, but it can be a viable option if you fall into that category.Deal Struck is mostly for newer businesses — you only need to have been in business for a year to qualify for a loan from these guys.There are several debt-consolidation options for small businesses. As you review each statement, decide if it is debt that needs to be paid now or if it can be put off until later.The three primary options involve acquiring a debt-consolidation loan, acquiring a small business loan or seeking commercial debt counseling. You may choose to consolidate some debts and not others, or you may wish to consolidate the total debt the business has. Obtain a debt-consolidation loan from a Small Business Association lender.Generally speaking, as businesses exist for the sole purpose of creating profit and as smaller companies are often heavily geared with few company owned assets, if your revenue is not sufficient to cover your cost of operating or if your projected growth is unrealistic or unsustainable, lenders will be reluctant to risk lending you their money anyway.

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