If your small business is struggling with carrying the burden of too much debt, you’re not alone. The Small Business Administration
(SBA), reports that 30 percent of new business close in their first three years of business. Even more
striking is that over half of small businesses – 50 percent – fail within their first five years. Among the
reasons for a small business failing are insufficient capital and poor credit management. The good news is that
there is debt consolidation help that can save your business and to get mounting debt under control.
One approach to consider consolidating is your business debt. Small
business debt consolidation works similarly to personal debt consolidation. You may be able to
consolidate your business loans into one payment either through obtaining a single loan to pay off those debts,
or by using a debt consolidation company to help you through the process.
When dealing with debt consolidation on your own, you will need to be comfortable in negotiating a small business
debt consolidation loan as well as organizing your payments to make sure that your previous creditors are paid
off. You should also be aware that there are two different types of small business consolidation loans
available: secured loans (which would use business assets) and unsecured loans (which don’t require collateral).
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Advertiser Disclosure*. The financial products and services on this site are from advertisers from which AmOne receives compensation. Compensation may be based upon whether you click on certain links on this site or buy products or services from those advertisers. We do not receive compensation from consumers. The placement of advertisements on this site are based in part upon the compensation AmOne has or expects to receive from those advertisers. Placement of advertisements does not reflect our recommendation of any advertisers’ products or services. Please consult a financial services professional before making any financial decisions. Our advertisers do not include all the financial products and service providers available in the marketplace.
Loan availability, rates, APRs (Annual Percentage Rate), and other terms vary by advertiser and borrower attributes, including borrower location. Lenders have a range of available APRs; only borrowers with excellent credit will qualify for the lower rates. As of 01/11/2024, our advertisers were offering loans to some consumers for as little as a 6.40% APR on a three-year $100,000 loan.
We do not provide financial products or services. Rather, AmOne provides administrative and marketplace services by attempting to connect consumers with service providers offering products and services such as debt settlement and personal loans. We do not take applications or make credit decisions. We may not be able to match you with any of our advertisers. Credit and other decisions and terms are determined by our advertisers based upon the consumer's submission of an application to the advertiser, which may obtain other information about the consumer from third parties. Approval for financial products and services by an advertiser is not guaranteed.
