Consolidating multiple business credit card balances into a single monthly payment may not reduce or pay off your existing debt sooner in all cases.
Smart Biz offers these SBA loans up to $350K and repayment terms up to 10 years.
Visit Smart Biz Showing an improvement in your business credit usually involves showing that you’re a more responsible borrower.
These are likely your two best options when looking to consolidate your debt.
If you’re looking to consolidate a small amount of debt (under $35K), then business credit cards can be a great option.
American Express Business Loans can be used to consolidate business cards only at eligible U. If your required monthly business credit card payment is higher than the monthly business credit card payment in our example, or if your business credit card APR is lower than the business credit card APR used in our example, potential savings on interest will be reduced.
Business Loans example assumes 36 monthly payments of 2 on a business loan of ,000 at a 9.4% APR.
To apply, tell us how much you want to borrow for each credit card you want to pay with your loan and choose one of three repayment periods that best meets your needs.
A small business debt consolidation loan can lower your interest rates and reduce the size of your monthly payments.
An improved credit score is an important qualification for lower interest rates and longer repayment terms.