Month: August 2024

Apache is functioning normally

Apache is functioning normally

Looking for affordable living in the Land of Enchantment? Look no further. New Mexico has a ton of cities where you can stretch your budget further. 

Below, we take a closer look at five of the cheapest places to live in New Mexico, along with a few of the largest employers and most affordable attractions in the area so you can hit the ground running when you find your new home.

1. Roswell

Average rent: $693

Roswell tops our list as one of the cheapest places to live in New Mexico, with an average rent of just $693. The cost of living here is impressively low, making it an attractive option for renters. One-bedroom apartments average $674, while two-bedroom units are about $712. 

Roswell is home to some noteworthy employers, including the Roswell Independent School District and Eastern New Mexico Medical Center. For a truly Roswell experience, be sure to check out the International UFO Museum and Research Center, which has a modest entry fee. Another great stop is the Spring River Park and Zoo or Bottomless Lakes State Park.

Apartments for Rent in Roswell | Houses for rent in Roswell | Homes for sale in Roswell

2. Farmington

Average rent: $899

Farmington is another affordable gem in New Mexico, with an average rent of $899. Here, you can find one-bedroom apartments for around $815 and two-bedroom units for $983. 

In Farmington, major employers include the San Juan Regional Medical Center and Farmington Municipal Schools. For budget-friendly fun, explore the nearby Aztec Ruins National Monument, which offers free admission. We also recommend taking a stroll along the Animas River Walk for a scenic and free outdoor experience. 

Apartments for Rent in Farmington | Houses for rent in Farmington | Homes for sale in Farmington

3. Las Cruces

Average rent: $915

Las Cruces offers a mix of affordability and amenities, with an average rent of $915. Studio apartments are about $677, while one-bedroom units are $892 and two-bedroom apartments average $1,177. 

One of the largest employers in Las Cruces is New Mexico State University, which provides a solid selection of jobs and solidifies Las Cruces status as an elite New Mexico college town. If you’re in town looking for an apartment, consider a visit to the New Mexico Farm and Ranch Heritage Museum, which has a low admission fee. Dripping Springs Natural Area offers beautiful hiking trails with a small entrance fee. Downtown Las Cruces Farmers and Crafts Market is a great place to enjoy local products and live entertainment for free.

Apartments for Rent in Las Cruces | Houses for rent in Las Cruces | Homes for sale in Las Cruces

4. Hobbs

Average rent: $1,243

The average rent in Hobbs is $1,243. One-bedroom apartments average $1,010, and two-bedroom units are about $1,475. The cost of living in Hobbs is relatively low, making it an attractive option for budget-conscious renters.

In Hobbs, a couple of the larger employers are Hobbs Municipal Schools and the Lea Regional Medical Center. The Western Heritage Museum and Lea County Cowboy Hall of Fame, which offers engaging exhibits with low-cost admission, provides an authentic Hobbs experience. Green Meadow Lake is a serene setting for fishing and picnicking without breaking the bank. The Hobbs Community Playhouse also offers affordable live performances to scratch that culture itch.

Apartments for Rent in Hobbs | Houses for rent in Hobbs | Homes for sale in Hobbs

5. Albuquerque

Average rent: $1,268

Albuquerque is a beautiful and affordable place to call home. The average rent here is $1,268, with studio apartments in Albuquerque costing around $896, one-bedroom units $1,220, and two-bedroom units $1,688. Albuquerque’s affordability extends beyond rent, with reasonable costs for dining and transportation.

Key employers in Albuquerque include Sandia National Laboratories and the University of New Mexico. The Albuquerque Museum, which offers free admission on the first Wednesday of each month, is a great option for family-friendly affordable fun. The Albuquerque Biological Park’s four facilities, including the zoo and aquarium, is always a safe bet for an affordable day out. The ABQ BioPark Botanic Garden is especially popular for its low entry fee and beautiful landscapes.

Apartments for Rent in Albuquerque | Houses for rent in Albuquerque | Homes for sale in Albuquerque

Methodology

All cities must have over 40,000 residents per the US Census and have an average rent price under or within $50 the median rent price for the state – which is $1,246 per month according to Redfin data. Average rental data from Rent.com July 2024.

A native of the northern suburbs of Chicago, Carson made his way to the South to attend Wofford College where he received his BA in English. After working as a copywriter for a couple of boutique marketing agencies in South Carolina, he made the move to Atlanta and quickly joined the Rent. team as a content marketing coordinator. When he’s off the clock, you can find Carson reading in a park, hunting down a great cup of coffee or hanging out with his dogs.

Source: rent.com

Apache is functioning normally

So, you’ve got one day in Glendale, AZ – you’ve come to the right place! Whether you’re exploring the town for vacation or trying to decide on renting an apartment in Glendale, AZ, buying a home, or renting a house in Glendale, ApartmentGuide can help you with planning the ideal day.

Here’s the plan: Below, you’ll find a wealth of bars, activities, and parks handpicked by Glendale, AZ, locals. Your task is to look through the list, selecting one item from each step to create your ideal itinerary. Feel free to choose more than one option if you wish! The goal is for you to get a crash course in what it’s like to live in Glendale, AZ.

Step one:

Try a new experience

Take the opportunity during your time in Glendale to try out some of the activities the city has to offer. Below is a selection of shops and experiences, from a local women-owned boutique to a hot air balloon ride. Choose one or a few to explore during your stay.

Roka Boutique: “From high fashion to accessories to gifts, this locally owned boutique has exactly what you need to look your best. Trained stylists are ready to assist in your shopping, and you’re guaranteed to leave with something totally one-of-a-kind.” – Jen of Turquoise Wine Cellar & Tasting Room.

Rainbow Ryders: Rainbow Ryders is the top-rated hot air balloon ride company in the Southwest, offering breathtaking flights year-round. With nearly 40 years of safe flying experience, they are the official operator for notable events like the Albuquerque International Balloon Fiesta. Perfect for any occasion, their rides promise stunning views, expert pilots, and a memorable adventure for all.

Camelback Ranch – Glendale: As the spring training home for the Los Angeles Dodgers and the Chicago White Sox, Camelback Ranch provides fans with the chance to see top-tier baseball talent up close. The picturesque stadium, with its stunning desert backdrop, combines modern amenities with a cozy atmosphere, making it a perfect destination for a day out. Additionally, the complex features beautifully landscaped walking trails, picturesque water features, and plenty of opportunities for fan interaction, ensuring a memorable visit for all ages.

Step two:

Explore a park or two

Glendale boasts numerous amazing parks and natural features. If you enjoy the outdoors, choose one of the activities below to explore.

Foothills Recreation & Aquatics Center: “When visiting Glendale, we love to take our family to the Foothills Recreation & Aquatics Center. It offers a great escape from the heat and some much needed family time. They also have a full size gym and rockwall which is perfect for getting some energy out.” – Nicole Sarah of Nicole Sarah Photography Studio.

Desert Botanical Garden: “They offer some of the best plant species examples in an easily accessible pathway. Additionally, they feature many different events throughout the year including arts festivals and concerts. There’s something for all ages and it’s always new and exciting.” – Nicole Sarah of Nicole Sarah Photography Studio.

Lake Pleasant Regional Park: Lake Pleasant Regional Park is a fantastic destination for outdoor enthusiasts. This scenic park offers a variety of recreational activities, including boating, fishing, hiking, and camping. With over 23,000 acres of water and beautiful desert landscape, it’s perfect for a day trip or a weekend getaway. The park features well-maintained facilities, picturesque picnic areas, and opportunities for wildlife viewing, making it an ideal spot for families, adventurers, and nature lovers to enjoy the great outdoors.

Step three: 

Try the local brews and wine

While in Glendale, stop by some of the local breweries and wineries to relax after a long day exploring the town. 

The Lola: “Located in the Westgate Entertainment District, The Lola is a lively gastropub offering a fantastic selection of craft cocktails and local beers. The atmosphere is vibrant, with live music and a beautiful outdoor patio perfect for socializing. It’s a great spot to unwind with friends while enjoying some delicious bar bites.” – Brian Bergmeier of Bar and Club.

State 48 Funk House Brewery: “Also situated in the Westgate area, this brewery is known for its diverse range of craft beers brewed on-site. The Funk House features a cozy, laid-back ambiance with unique decor and a friendly staff. It’s an excellent place for beer enthusiasts to explore new flavors and enjoy a relaxed evening out.” – Brian Bergmeier of Bar and Club.

Turquoise Wine Cellar & Tasting Room: “Check out the charming, locally owned Turquoise Wine Cellar & Tasting Room! This female-owned business features a revolving menu of wines by the glass and tasting flights, and over 250 different boutique bottles of wine from around the world. Enjoy a glass on the patio, live music on the weekends, and a long list of culinary delights to make a perfect brunch, lunch, or dinner!” – Jen of Turquoise Wine Cellar & Tasting Room.

Apache is functioning normally

Apache is functioning normally

Capital One often sends out a pop-up within the online login to their business cards:

Action required
In order to avoid account restriction or closure, please call 1-888-249-3773 by August 13, 2024 to provide important business information.

We may need to obtain information about your business executives and owners. If you have already called and resolved this issue, please disregard this notice.

I was reminded about this today from a ToP post, and actually just have this now myself on my new Spark business card. I recall the same thing happening to me with a prior Capital One business card a couple of years back.


When I called in, they simply asked me some more information about the business and cleared up the issue. They mentioned something about an address and whatnot. For me it was just a 5 minute phone call.

And so this post is to put out the information for posterity not to get concerned over such a message. Interestingly, even after I called in the message still persists. I just ignore it, as per the pop-up: “If you have already called and resolved this issue, please disregard this notice.”

This is what I see in my login:

Source: doctorofcredit.com

Apache is functioning normally

Apache is functioning normally

San Diego-based Smartfi Home Loans, which primarily is active as a wholesale lender in the reverse mortgage space, will launch a retail division that offers reverse mortgage products and has hired industry veteran Paul Fiore as its president of retail sales.

“I am thrilled to announce that I have started my new role as president of retail sales at Smartfi Home Loans,” Fiore posted on social media on Monday. “Joining a team of highly accomplished professionals to establish a retail platform from scratch is an incredible opportunity.”

Fiore, who most recently worked at Finance of America (FOA) after its acquisition of his longtime employer American Advisors Group (AAG), sees a unique opportunity to build a new retail division in the industry from the ground up. He expressed excitement about the opportunity in an interview with HousingWire’s Reverse Mortgage Daily (RMD).

Making the move

Fiore described feeling a sense of possibility following his departure from FOA.

“In early June, I essentially — for the first time in 15 years — had the opportunity to explore opportunities in the market and consider how I was going to go forward,” he said. “I absolutely knew that I wanted to remain in the reverse mortgage industry. I’m still very passionate about what we do and the future potential that still remains for us. I surveyed the landscape, started thinking about what was a good fit for me, and began having discussions with Smartfi.”

Early on in these conversations, Fiore said he felt like Smartfi was the right fit for him.

<img decoding="async" width="350" height="350" data-attachment-id="436047" data-permalink="https://www.housingwire.com/articles/fars-paul-fiore-on-moving-over-from-aag-integrating-two-leading-reverse-mortgage-companies/paulfiore_foa/" data-orig-file="https://www.hanovermortgages.com/wp-content/uploads/2024/08/apache-is-functioning-normally-86.jpg" data-orig-size="350,350" data-comments-opened="1" data-image-meta=""aperture":"0","credit":"","camera":"","caption":"","created_timestamp":"0","copyright":"","focal_length":"0","iso":"0","shutter_speed":"0","title":"","orientation":"0"" data-image-title="paulfiore_foa" data-image-description="

Paul Fiore, chief retail sales officer at Finance of America Reverse.

” data-image-caption=”

Paul Fiore

” data-medium-file=”https://www.hanovermortgages.com/wp-content/uploads/2024/08/apache-is-functioning-normally-86.jpg?w=300″ data-large-file=”https://www.hanovermortgages.com/wp-content/uploads/2024/08/apache-is-functioning-normally-85.jpg” tabindex=”0″ role=”button” src=”https://www.hanovermortgages.com/wp-content/uploads/2024/08/apache-is-functioning-normally-85.jpg” alt=”Paul Fiore, president of retail sales at Smartfi Home Loans.” class=”wp-image-436047″ srcset=”https://www.hanovermortgages.com/wp-content/uploads/2024/08/apache-is-functioning-normally-86.jpg 350w, https://www.hanovermortgages.com/wp-content/uploads/2024/08/apache-is-functioning-normally-86.jpg?resize=150,150 150w, https://www.hanovermortgages.com/wp-content/uploads/2024/08/apache-is-functioning-normally-86.jpg?resize=300,300 300w” sizes=”(max-width: 350px) 100vw, 350px”>

Paul Fiore

“To me, the most successful working relationships are ones where you connect with the people you’re going to be working with and you have a shared vision for the future,” he said. “Through multiple conversations with various people in the organization, many of whom I know because they’re industry veterans, it was very clear that there was a shared vision for the future.”

He officially started as the company’s president of retail sales on July 29, which gives him the opportunity to build a retail division from the ground up. That’s because Smartfi exclusively operates as a reverse wholesale lender today. Having a degree of symbiosis between the existing wholesale channel and the new retail channel will be imperative for the company going forward, Fiore explained.

“It’s a holistic benefit to the organization when you have a retail platform and a wholesale platform that can work together,” Fiore said. “The innovation comes in when you build a retail platform from the ground up, starting with the basic technology and infrastructure build-out. You have to consider where the market is heading, where the borrowers are heading and how they want to transact.”

Keeping the trajectory of the market and borrower preferences in mind will be keys in the build-out of the new division, he added. The ways that both the industry and reverse mortgage borrowers have changed is also important to keep in mind.

“The borrower today is very different from the borrower 10 years ago,” he said.

The ground floor

Fiore said he is excited about the prospect of getting to be on the ground floor of an entirely new division, which he said feels similar to his earliest days at AAG. As far as first steps go, tools like the technology stack and the general workflow of the organization will need to be fully evaluated before the company starts hiring personnel — including loan officers.

If the company moved too fast and hired LOs prior to having the mechanics determined, that could prove suboptimal, he said.

“For me, it’s not about just hiring a bunch of loan officers and starting to sell loans,” he said. “You’re doing a disservice to everyone in that scenario. For me, a ground-up build literally means sitting down, meeting with compliance, meeting with tech and learning all the different systems — how they work today and how they need to be implemented for retail —all of that good stuff.”

Fiore will also reunite with a former AAG colleague, Kim Smith, who joined Smartfi last year as its senior vice president of wholesale lending. Being able to renew an established working relationship will help Fiore’s efforts to build out the new retail division, he said.

As for the addition of a new retail player in the reverse mortgage industry, Fiore said he hopes his colleagues at other companies are excited about the prospect.

“Our future success as an industry is dependent upon new players entering the space and existing players expanding the market with thoughtful, innovative messaging,” he said. “I’m hoping that people will take this in a positive way because my goal has always been to be additive to the industry. I think we all, as leaders, should be thinking of ways to expand this market. The product is more important than ever for the client base today.”

Fiore remains a strong industry advocate for both the product and his colleagues, he said.

“I’m championing and rooting for all of my former colleagues to be successful because I think the industry needs that. So, the more players, the better,” he explained.

Source: housingwire.com

Apache is functioning normally

Apache is functioning normally


Learning the best shopping habits can make a big difference in how much money you save. Whether you’re shopping for groceries, clothes, or everyday essentials, smart spending habits can help you keep more money in your pocket. This post will guide you through the top shopping habits that can help you spend less and save more.

Stay out of stores

Image Credit: Zhudifeng from Getty Images.

Avoid the mall. This simple change can save a lot on your budget. Find frugal alternatives to buying everything from food to clothes in big stores. And if you must shop, make sure to use a list!

Have a no-spend weekend

Image Credit: Nopphon Pattanasri from Getty Images.

A no-spend weekend is when you try to save money by not spending. It’s a great way to get back on track financially. Try using our no-spend printables to help.

To learn more: No Spend Challenge: The #1 Fastest Way To Save Money

Write down what you want to buy

Image Credit: Rido

When you’re tempted by a purchase, take five minutes to write down what you want. Wait at least three days before deciding. This helps you avoid impulse buys.

To learn more: 5 Effective Bill Calendar Strategies That Boost Your Finances

Buy only used items

Image Credit: Cyano66 from Getty Images.

Buying used items saves money. You might not find exactly what you want, but it’s worth it for the savings. Also, start looking for used items on a Buy Nothing Group.

Skip paying the full price

Image Credit: Juanmonino from Getty Images Signature.

Many thrifty people avoid paying full price by looking for discounts and promotions. This helps you spend less money on the things you need.

Learn More: Why a Thrifty Lifestyle is Something You Need Today

Be wary of subscriptions

Image Credit: AndreyPopov from Getty Images.

Many online subscriptions seem cheap but can add up. Review your subscriptions to make sure you’re getting your money’s worth.

Trim unused subscriptions

Image Credit: Ilonakozhevnikova.

Unused subscriptions can waste money. Cancel any that you don’t use to save money. This is especially true if you started with a free trial and forgot to cancel.

Get cashback on everyday products

Image Credit: Kaspars Grinvalds.

Online shopping can help you get cashback on everyday products. Use comparison websites to find the best deals and save money.

Learn More: Best Cash Back Apps: How to Earn Money and Save Money

Free Stuff

Image Credit: Andrii Dodonov from Getty Images.

Enjoy free events and activities in your area. There are many fun things to do that don’t cost any money. Free fun equals more money in your bank!

Learn More: 105 Fun Things To Do With No Money

Use the Library

Image Credit: Ozgurdonmaz from Getty Images Signature.

For magazines or books, check the library instead of buying new ones. It’s a great way to save money. Only buy a book if you absolutely love it or need it for reference.

Buy clothes during the off season

Image Credit: ND3000 from Getty Images.

Buying clothes during the off season means finding great deals. Wait for sales to get the best prices. Be a savvy shopper!

To learn more: How to Shop for Clothes on a Budget

Shop thrift stores

Image Credit: Daisy-Daisy from Getty Images.

Visit thrift stores and garage sales for cheap finds. You might even flip items for a profit.

To learn more: 76 Easy Thrifty Tips & Tricks to Live a More Frugal Lifestyle

Avoid Impulse Purchases

Image Credit: Dean Drobot.

When tempted by an impulse purchase, wait 24 hours before buying. This gives you time to decide if you really need the item.

Try to reduce waste

Image Credit: Doidam10.

Reduce waste by thinking about what you really need. This helps you save money and be more mindful about your purchases.

To learn more: How to Be Frugal Green: 91+ Tips to Save Money and Environment

Set Savings Goals

Image Credit: Shutthiphong Chandaeng from Getty Images.

Set specific savings goals and track your progress. This can motivate you to save more and spend less.

To learn more: 10 Must Have Financial Goals to Achieve

See More ideas to Save Money

Image Credit: Professor25 from Getty Images Signature.

Saving money doesn’t have to be complicated. By incorporating these simple habits into your daily routine, you can make a big difference in your financial situation. Start today, and watch how these changes can lead to a more secure and stress-free future. Remember, it’s the small actions that add up to big savings.

To learn more: Top 10 Hot Frugal Living Tips You Need Now

Know someone else that needs this, too? Then, please share!!

Did the post resonate with you?

More importantly, did I answer the questions you have about this topic? Let me know in the comments if I can help in some other way!

Your comments are not just welcomed; they’re an integral part of our community. Let’s continue the conversation and explore how these ideas align with your journey towards Money Bliss.

Source: moneybliss.org

Apache is functioning normally

Apache is functioning normally

Summer breaks can feel like a pressure cooker for parents — it certainly feels like one for me. I’m tasked with working full time, keeping my pantry fully stocked, entertaining my energetic 6-year-old son and engaging him in learning activities.

But as summer ends, the pressure surrounding back-to-school shopping builds. I’m sure many parents can relate, especially with the recent increases in the cost of living, even though inflation is cooling.

According to NerdWallet’s 2024 back-to-school shopping report, those who are parents of K-12 or college students and who plan to do back-to-school shopping this year will spend $541, on average, on school supplies and clothing for their kids’ upcoming school year.

Four moms — including myself — with children of various ages share tips on how to shop for clothes and supplies on a budget. Even if you’ve already gotten a head start on shopping, these gems may still come in handy for next year.

Separate needs from wants if you have a larger family

Back-to-school supply lists can seem endless. When you do finally get to the end of the list, you may find that you’ve broken your budget. Kimyatta Williams, a day care owner from Atlanta, has a vibrant family with six children and has mastered staying within her budget by separating needs from wants. Williams’ oldest child is 23 and her youngest is 9, so she’s well-versed in back-to-school shopping.

“I can’t afford to get all these things on the list. So I’m making the priority to prioritize the needs from wants,” Williams says.

“So crayons versus markers. I’m not gonna buy both. They both do the same thing. So I may purchase the markers versus the crayons or I may purchase the big pack of 64 crayons versus the markers, especially at a grade level of a first grader or a second grader,” she adds.

Additionally, Williams attends back-to-school events, which usually give out free supplies. You can search for these events on Google, Eventbrite, Facebook or your local government’s website.

“When you’re a family size like mine, I can only do what I can. I make sure that they have everything they need for the first day to be successful in school,” Williams says.

Consider sustainable clothing if you have younger kids

Clothing can be a major expense for parents when their kids are going back to school. Gyna Uhrlass, an entrepreneur and content creator in Manhattan, New York, is a mother of three who focuses on using sustainable clothing options to help budget for clothing expenses.

She says one of the most frustrating things about back-to-school shopping for her is how expensive everything is, especially because of inflation. She finds that clothes and shoes are her biggest expense.

“My family is Caribbean. When I was growing up, we never did any hand-me-downs. Now that I’m older, I am all about hand-me-downs,” she says.

Uhrlass regularly gets used clothes from her friend who has a son a year older than hers.

“I have not had to buy a significant amount of clothes for him in years,” she says.

She also keeps the tradition within the family by keeping items like her older kids’ vests to pass down to her younger kids.

Set a budget and negotiate if you have older kids

Samantha Danielle Sharpe, a content creator and mother of three located in Nashville, Tennessee, has a home full of teenagers, ages 14, 16, and 18. Since her kids are older, she approaches back-to-school shopping by setting a budget and negotiating with them. However, that’s sometimes hard to do because of social media’s influence.

“I think there’s just a lot of pressure to get your kids so many different trendy items,” she says, adding that her daughter requested all pink supplies.

Sharpe tackles this issue by setting a budget for each of her children so they can learn to manage money and prioritize.

“As a single mom, I’m really honest with my kids. For me, it’s not just about the resources that I have. It’s about me wanting to make sure that I set my kids up for realistic expectations in life,” she says. “I don’t wanna set the expectation that everything that you want, you’re gonna always get.”

Other strategies Sharpe uses include following moms who share saving tips on social media and tapping into her community. Her family has a group chat where they post any items they aren’t using and share sales they come across.

“It may only be for like $100, $150, but it’s like my little reward back to myself for shopping for my kids,” she says.

Shop multiple sales and buy over time

I’m a single mom with one child who is going into the first grade this year. I opted to give myself one less thing to stress about by spreading out back-to-school shopping. I started buying my son new shoes — which he outgrows in a scarily short amount of time — during the summer. When buying household items in stores like Ross and Marshalls, I would also pick up a pair of sneakers from the sales rack because that tends to be my biggest expense after clothing.

As for clothes, I have also shopped between sales. Comparison-shopping has taught me that just because an item is on sale doesn’t mean that’s the best price. Also, I look for websites with deals on multipack shirts or shorts so I’m paying less per item.

I also pay attention to the clothing brands and materials I bought last year that held up and bought more of those items this time around. Having clothes that can withstand school activities that include slime, soil and Play-Doh has definitely saved me money over the past year.

Source: nerdwallet.com

Apache is functioning normally

Apache is functioning normally

Building a business often requires financing, but it can be hard to get approved with a credit score that’s low or that hasn’t been established yet.

Some lenders offer no credit check business loans. Each lender has its own requirements, which may include things like minimum annual revenue amount, time in business, and the requirement to put up collateral.

Keep reading to learn more on no credit check business loans, how to get one, and alternative sources of funding.

Key Points

•  With a no credit check business loan, the lender does not conduct a hard credit check or review your credit history.

•  Some lenders may offer no credit check business loans, but they will come with higher interest rates because they present greater risks for the lender.

•  Alternatives to no credit check business loans include traditional small business loans, equipment financing, and merchant cash advances.

Can You Get a Small Business Loan With Bad Credit?

When evaluating applications, lenders often consider both a business’s credit score and the personal credit score of the owner. If either of these is low, it can hurt your chances of getting approved for a loan or can result in higher rates if you are approved.

The different types of business loans usually require a minimum personal credit score of 670. Online lenders that offer bad credit business loans have a lower threshold, often as low as 580, which is “poor” for some credit agencies and “fair” for others. Building business credit may help you qualify for better terms and larger loan amounts.

As you get financing, considering these steps may help you work toward building a business credit score:

•  Make debt payments on time

•  Keep credit utilization low by avoiding maxed-out credit lines

•  Grow revenue to offset existing debt

Recommended: Paying Back SBA Loans

Can You Get a Business Loan With No Credit Check?

Banks and other traditional lenders that are willing to give loans to business owners want to be sure that the loan payments have a decent chance of being paid back. That means assessing the ability of an applicant for a loan to make those payments. How could a bank or other type of lending organization make such an assessment without even being able to look at the credit history of the business? The challenge is clear.

That said, there are financing opportunities that small business owners can seek out if there is no credit check. Some lenders do offer them, but they are considered risky and often have high interest rates and origination fees.

Recommended: Small Business Loans With Only EIN

Pros and Cons of No Credit Check Business Loans

No credit check loans offer significant advantages and disadvantages. Pros of no credit check business loans include:

•  Quick and accessible funding for individuals with poor or no credit history, bypassing the lengthy approval processes associated with traditional loans.

•  They can offer a pathway to rebuilding credit if timely payments are reported to credit bureaus.

However, the downsides are substantial. Cons of no credit check loans include:

•  Very high interest rates and fees, making them more expensive in the long run.

•  Risk of predatory lending practices is higher, potentially trapping borrowers in a cycle of debt.

•  The lack of credit checks means lenders are not assessing the borrower’s ability to repay, which can lead to financial strain and default.

While no credit check loans can be a lifeline for those with limited options, they should be approached with caution and as a last resort.

Other Sources of Funding for Small Businesses

There are small business loan alternatives that may work in place of a no credit business loan. Consider the alternatives below:

No Credit Check Personal Loans

No credit check personal loans may be an option worth exploring. However, it’s important to note that personal loans generally cannot be used for business purposes. Make sure you check for any restrictions against using a personal loan for business purposes before applying for one.

Recommended: Credit Score Required for Business Loans

Payroll Loans

Payroll loans are designed to specifically fund employee paychecks in the event of a short-term cash flow issue. Approval and funding times are usually fast to cover last-minute gaps in capital. These loans are seen as a last resort by many because they come with very high interest rates.

Equipment Financing

Equipment financing can help you get funding in place for machinery or office equipment. The actual assets are used as collateral, although you may also need to offer a personal guarantee.

Merchant Cash Advances

A merchant cash advance is based on future sales through your point-of-sale system, also known as your POS system. You can borrow a lump sum, then pay back the loan using a percentage of your daily sales.

Traditional Small Business Loans

It may be possible to get a traditional loan without a credit check, but expect the lender to demand collateral or offer high interest rates. There will be limited options regarding loan types, as well.

Recommended: What to Know About Short-Term Business Loans

Explore Small Business Loans

Not having a good credit score will make it challenging to get a small business loan, but it won’t be impossible. No credit check loans may be a viable way for you to get the funds you need, though they typically come with higher interest rates and fees than loans that require good credit.

If you’re seeking financing for your business, SoFi can help. On SoFi’s marketplace, you can shop top providers today to access the capital you need. Find a personalized business financing option today in minutes.

With SoFi’s marketplace, it’s fast and easy to search for your small business financing options.

FAQ

Can you get a business loan if you have no credit?

Yes, there are no credit business loans available. In order to qualify, your business usually needs to meet other requirements, such as certain revenue numbers, and be prepared to pay high interest.

Do small business loans require a credit check?

Not all small business loans include a credit check, but you may see higher rates and fees with loans that don’t rely as heavily on the applicant’s credit score.

Can I get a business loan with a 500 credit score?

It is possible to get a business loan with a credit score of 500, which is seen as either “fair” or “poor.” There may be a demand for collateral or high interest rates imposed.

Can you get a business loan with your EIN number?

It is unlikely you will get a traditional business loan with only an EIN number, but some less traditional lenders may offer financing. Lenders may also consider your personal credit score, business credit history, revenue, and overall financial health.

Photo credit: iStock/Anchiy

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Source: sofi.com

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Apache is functioning normally

Looking for the cheapest places to live in Minnesota? We’ve got you covered! From growing cities to charming towns, Minnesota has a range of affordable living options.

Let’s explore five of the most budget-friendly cities in the Land of 10,000 Lakes, listed from the cheapest to the priciest. We’ll also shout out a few of the top employers and most affordable attractions in each area to give you a better idea of what life is like in some of Minnesota’s most affordable towns.

1. St. Cloud

Average rent: $848

St. Cloud stands out as one of the most affordable cities in Minnesota, with an average rent of just $848. Studio apartments in St. Cloud average $755, one-bedrooms go for $837, and two-bedrooms cost around $952. Living here is easy on the wallet, thanks to its lower rental prices compared to the state median. 

St. Cloud is home to several major employers, including St. Cloud State University and CentraCare Health. For some fun in the sun, check out Munsinger Clemens Gardens or take a stroll along the Mississippi River. The city also puts on free community events and concerts throughout the year, ensuring there’s always something to do without breaking the bank.

Apartments for Rent in St. Cloud | Houses for rent in St. Cloud | Homes for sale in St. Cloud

2. Brooklyn Park

Average rent: $1,164

Brooklyn Park has an average rent of $1,164, making it another affordable choice. Studio apartments cost about $994, one-bedrooms are $1,084, and two-bedrooms average $1,415. 

Top employers in Brooklyn Park include Target’s Northern Campus and Hennepin Technical College. The city maintains a handful of parks and trails, including the scenic Coon Rapids Dam Regional Park. The Zanewood Recreation Center has free or low-cost activities for all ages, making it easy to enjoy the community.

Apartments for Rent in Brooklyn Park | Houses for rent in Brooklyn Park | Homes for sale in Brooklyn Park

3. St. Paul

Average rent: $1,327

With an average rent of $1,327, St. Paul is both affordable and exciting. Studio apartments in St. Paul average $1,111, one-bedrooms are $1,307, and two-bedrooms go for $1,562. St. Paul is budget-friendly, especially for renters seeking a big city experience without the high costs.

A couple of St. Paul’s larger employers are 3M and Ecolab. St. Paul also has plenty of free attractions, like Como Park Zoo and Conservatory and tours of the Minnesota State Capitol. The city’s parks and lakes provide ample opportunities for outdoor activities at no cost, weather permitting, of course.

Apartments for Rent in St. Paul | Houses for rent in St. Paul | Homes for sale in St. Paul

4. Duluth

Average rent: $1,347

Duluth’s average rent is $1,347, with studios at $740, one-bedrooms at $1,525, and two-bedrooms at $1,775. This city is a great choice for those seeking affordable living in a beautiful, natural setting. 

The University of Minnesota Duluth is one of the more significant employers in Duluth. The school provides a ton of jobs and solidifies Duluth’s status as one of Minnesota’s top college towns. For entertainment, visit Canal Park or take a scenic drive along the North Shore. The Lakewalk offers stunning views of Lake Superior and is a favorite spot for locals.

Apartments for Rent in Duluth | Houses for rent in Duluth | Homes for sale in Duluth

5. Coon Rapids

Average rent: $1,362

The average rent in Coon Rapids is $1,362. Studio apartments are $1,300, one-bedrooms are $1,395, and two-bedrooms average $1,392. 

Coon Rapids is home to significant employers like Mercy Hospital and Anoka-Ramsey Community College. On a lazy day, the city’s parks, including Bunker Hills Regional Park, which offers free entry, are always a great option. Coon Rapids Dam Regional Park is another popular spot for outdoor activities like hiking and soaking up the sun.

Apartments for Rent in Coon Rapids | Houses for rent in Coon Rapids | Homes for sale in Coon Rapids

Methodology

All cities must have over 50,000 residents per the US Census and have an average rent price under the median rent price for the state – which is $1,422 per month according to Redfin data. Average rental data from Rent.com July 2024.

A native of the northern suburbs of Chicago, Carson made his way to the South to attend Wofford College where he received his BA in English. After working as a copywriter for a couple of boutique marketing agencies in South Carolina, he made the move to Atlanta and quickly joined the Rent. team as a content marketing coordinator. When he’s off the clock, you can find Carson reading in a park, hunting down a great cup of coffee or hanging out with his dogs.

Source: rent.com