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Small Business
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Business payday loans are short-term funding options available to businesses who need money quickly. Also known as a merchant cash advance or business cash advance, a payday loan for businesses is one of the most expensive forms of financing and is not federally regulated. Generally, you’ll want to consider all other types of small-business loan options — and weigh the pros and cons of this alternative lending product — before you commit to a business…
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Whether you have done it before or you’re new to the process, applying for a small-business loan can be frustrating and difficult to navigate. In the Federal Reserve’s 2023 Small-Business Credit Survey, over half of business owners who reported feeling discouraged from applying for funding cited lender requirements as the reason. With large banks in particular, a difficult application process was one of the top challenges borrowers faced, second only to high interest rates. To…
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SBA Bolt loans are small-business loans that offer up to $150,000 in working capital to qualified businesses. The Bolt loan program is not a program created by the U.S. Small Business Administration. Instead, BayFirst Financial — a bank based in Tampa, Florida — uses the “Bolt” designation to market its expedited small-dollar SBA 7(a) loans. Although the bank is located in Florida, SBA Bolt loans are available to small businesses throughout the country. How much…
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