Consolidating business debt


An SBA loan has harder qualification requirements to meet, but they’re typically the best option for debt larger than $35K.SBA loans help you lower your debt payments by offering lower interest rates and longer repayment terms than other term loans.Consolidating multiple business credit card balances into a single monthly payment may not reduce or pay off your existing debt sooner in all cases.Longer loan periods may result in a lower monthly payment amount but more interest charged over the life of the loan.They’re typically much easier to get, and faster to apply for than either term loans or SBA loans.Business credit cards are also likely your only option with 0% rates, even if they only last for the introductory period.



Visit Smart Biz Showing an improvement in your business credit usually involves showing that you’re a more responsible borrower.

Consolidating multiple business card balances into a single monthly payment may not reduce or pay off your debt sooner in all cases.