BlueVine has named Ana Sirbu as chief financial officer in a management milestone for the fintech leader.
Sirbu became BlueVine’s vice president of finance and capital markets in 2016, helping the online business lender secure more than $200 million in equity and debt financing over the past two years.
You’re a business owner with a stable business growing at a moderate pace.
Suddenly, there’s an opportunity that could propel it to the next level. Maybe it’s a huge order from a retail giant, or a lucrative contract with a major manufacturer.
You jump at the chance, but then you face a dilemma: It usually takes 60 days and sometimes longer for this new customer to pay its vendors, sometimes longer. You now have this huge unpaid invoice. Meanwhile, you require funds for other business needs. You need to pay your employees and procure supplies for other smaller jobs.
Wouldn’t it be nice if there was a bank that handed out money the same way people hand free candy during Halloween? Unfortunately, it doesn’t work that way in the real world. In order to qualify for a loan, you need to convince the lender that you can pay the money back—with interest.
As a small business owner, how do you convince small business lenders that you can do that? You can start by avoiding these five common business loan application mistakes.