93 Search Results
93 Search Results
https://www.sofi.com/learn/content/credit-score-for-business-loan/
The minimum credit score for a business loan typically ranges from 500 to 680, depending on the lender and loan type. Traditional banks often require higher scores (around 680 or more), while alternative lenders may accept lower scores (500-600). Higher credit scores improve loan approval chances and the offering of better terms. Lenders may also […]
https://www.sofi.com/learn/content/working-capital-line-of-credit/
A working capital line of credit is a type of short-term financing that helps businesses cover their operating expenses, such as rent, payroll, or inventory. It is not intended for large, one-off expenses, like asset acquisitions or opening a new location. It provides flexible access to funds, allowing businesses to borrow as needed and repay […]
https://www.sofi.com/learn/content/installment-loan-vs-revolving-credit/
If you’re looking to grow your small business, you have two main financing options to choose from: installment loans and revolving credit. Installment loans give you a lump sum of cash up front that you pay back (with interest) in monthly payments. Revolving credit, on the other hand, provides a source of funds you can […]
https://www.sofi.com/learn/content/unsecured-business-line-of-credit-for-startups/
When you start your own business, you may have trouble getting approved for traditional financing because you haven’t been in business very long or haven’t established business credit. Yet you still need capital to launch your business, renovate space, or hire employees. An unsecured business line of credit for startups may be one option worth […]
https://www.sofi.com/learn/content/startup-business-loans-bad-credit/
You have a business dream, but your credit rating isn’t stellar and putting up collateral is a problem. Can you still launch a small business or expand one that is on the cusp of growth? The truth is, it won’t be easy. The Federal Reserve’s raising of interest rates to cool inflation also seems to […]
See what SoFi can do for you and your finances.
Select a product below and get your rate in just minutes.