What is a no-doc business loan? While almost all other loans will require some form of documentation, a no-documentation, or “no-doc,” business loan is meant to provide you with quick access to financing, usually with a simplified application process inclusive of just bank statements and business information. It is typically applicable to borrowers with limited... The post The Rise of No-Doc Business Loans: Fast Access or Risky Shortcut? appeared first on Fit Small Business ..read more

The best peer-to-peer lending platforms will vary depending on your specific circumstances, but should offer sufficient funding amounts, along with a wide range of repayment terms. The best options should also make it easy to apply for funding, and carry flexible eligibility criteria. In past years, a number of P2P lenders have decided to exit... The post Best Peer-to-Peer Lending Options for 2025 appeared first on Fit Small Business ..read more

The default rate is a calculation that includes all loans issued by a lender that have been written off as unpaid by the borrower and are officially in default. Loans typically go into default after an extended period of missed payments, and they are considered to be in violation of the terms of the loan... The post Default Rate: Definition, Causes & Formula appeared first on Fit Small Business ..read more

A Certificate of Beneficial Ownership (CBO) form is a document required by financial institutions in which a legal entity discloses information and the identities of individuals considered to be beneficial owners? of the business. It is commonly used when obtaining financing and opening business bank accounts. It’s deemed necessary by the Financial Crimes Enforcement Network... The post What Is a Certificate of Beneficial Ownership Form? appeared first on Fit Small Business ..read more

If you need an emergency small business loan, chances are you’re looking for a lender offering quick access to funds with a flexible repayment schedule. No matter the type of emergency, the best emergency loans for small businesses typically have limited funding restrictions, reasonable qualification requirements, and favorable rates and terms. I’ve reviewed the best... The post 5 Best Emergency Business Loans in 2025 appeared first on Fit Small Business ..read more

An LLC loan is any type of small business loan issued to a business structured as a Limited Liability Corporation (LLC). An LLC is one of several legal tax structures a business can operate as, with examples of other options including sole proprietorships, partnerships, and S corporations. LLC loans can be used for many different... The post What Is an LLC Loan and How to Get One appeared first on Fit Small Business ..read more

The main difference between debt vs equity financing is their return on investment (ROI). Debt financing has repayment obligations in which you, the borrower, pay back the loan with interest, whereas equity financing involves giving up ownership stakes in exchange for funding with no expectation of repayment. Debt financing Debt financing involves borrowing funds from... The post Debt vs Equity Financing: Which Is Best for Small Businesses? appeared first on Fit Small Business ..read more

A business loan agreement has many elements that outline the various terms and conditions associated with getting a loan — including the loan amount, the interest rate, the repayment schedule, penalties, covenants, and dates. Understanding each of these can help you outline the terms and conditions of your transaction and supply you with the knowledge... The post 10 Common Elements of a Business Loan Agreement appeared first on Fit Small Business ..read more

Lenders with the top food truck financing programs should be able to provide funding for your food truck and its related costs, such as working capital, inventory, and other equipment. Depending on your specific needs, top lenders should offer a combination of competitive rates, loan terms, and flexible qualifications. They may also have easy application... The post 5 Top Food Truck Lenders in 2025 appeared first on Fit Small Business ..read more

An applicable federal rate, also commonly known as an “AFR,” is the minimum interest rate required of a private loan. It is enforced and designated by the IRS and applies to loans with an interest rate lower than the tax rate if the loan is considered income. There are differing AFRs assigned to various loan... The post What Is an Applicable Federal Rate (AFR)? appeared first on Fit Small Business ..read more