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  • Workers’ Compensation in Texas: Everything You Need to Know  

    Workers’ Compensation in Texas: Everything You Need to Know  

    If you’re looking to start or grow your business in Texas, you’ll want to be familiar with the state’s workers’ compensation laws, which are quite different from those of other states. Here’s everything you need to know about workers’ compensation in Texas, including what it covers, how much it costs, and the best way to find an affordable plan.

    (1) What is workers’ comp?

    Workers’ compensation is a type of insurance that employers typically purchase for their employees. In exchange for the insurance, the employer can avoid being sued if one of their workers gets injured on the job. Workers’ comp provides benefits like medical care, disability payments, and vocational rehabilitation to injured employees.

    (2) How does it work?

    In the state of Texas, workers’ compensation insurance is mandatory for all employers. This coverage provides financial protection for employees who are injured on the job. The premiums for this insurance are paid by the employer and not by the employee. There are no deductibles or co-pays associated with this type of insurance and there is no limit to how much coverage can be purchased.

    (3) Who pays for your benefits?

    Texas employers are required to provide workers’ compensation benefits for employees who suffer a work-related injury or illness. This coverage is paid for by the employer and is not deducted from the employee’s paycheck.

    The cost of workers’ compensation insurance varies depending on your company size and industry, but it typically ranges between 0.5% and 2% of your payroll.

    (4) What are the compensation rates?

    The workers’ compensation rates depend on the type of business, and their experience rating. The minimum rate is $250 per week, while the maximum rate is $900 per week. In general, the more risk-averse your business is, the higher your rate will be. So if you work as a cake decorator without any experience – sorry! Your rates are going to be lower than that of a structural steelworker with three years of experience.

    (5) Is it right for you?

    The short answer is no, Workers’ Compensation may not be right for you if any of the following apply:

    -You are self-employed and have no employees. -Your company has fewer than 5 employees. -You don’t make enough money from your business to justify the cost of workers’ compensation insurance.

    (6) How do you get help filing a claim?

    The most important thing is to file a claim as soon as possible. If you are an employee, your employer will help you file a claim. If you are self-employed or unemployed, you can file the form yourself by contacting the Department of Labor and Workforce Development at 1-800-252-7031 or online. An insurance company that provides

    may also be able to help with your claim filing.

    (7) Hiring an attorney is optional. Here are your options.

    Hiring an attorney is optional. Here are your options.

    1) File a claim with the state’s Department of Insurance.

    (8) If you win, can you keep all of your money?

    No. Workers’ compensation is a type of insurance, and insurance companies pay out according to the terms of the policy. If you win, the insurance company can ask for reimbursement for any payments that they have made on your behalf before your lawsuit was settled.

    (9) Should I hire my own doctor?

    You may be required by your employer or the state of Texas to have a doctor that is designated as your treating physician. Your employer or the state will likely provide you with this list of doctors and you can choose one who is best for you. However, you are not obligated to use this list of doctors.

    10 Things Employers Can Do To Prevent Injuries and Save Money On WCB Claims.

    1. Make sure employees are properly trained on safety equipment and procedures.

    2. Provide regular safety inspections of the work environment.

    3. Provide proper support for injured employees through rehabilitation and/or temporary disability payments so they can return to work as soon as possible.

    4. Investigate workplace accidents thoroughly with supervisors, co-workers, and the injured worker present to identify potential solutions or hazards that might have contributed to the accident.

  • The Top 8 Fireable Offenses: What Not to Do If You Want to Keep Your Job

    The Top 8 Fireable Offenses: What Not to Do If You Want to Keep Your Job

    We all make mistakes, but these particular ones can get you fired, and they’re especially bad because they’re pretty easy to avoid – with just some common sense and self-awareness. If you know what the top fireable offenses are, however, you can keep yourself from committing them, and increase your chances of keeping your job for a long time! Here are the top eight fireable offenses – don’t make any of these costly mistakes in your work life!

    1) Don’t be late, be fired

    Being late is a major fireable offense. Showing up late for work is disrespectful, as it implies that your job isn’t important enough for you to show up on time and do your best work. Being tardy also indicates that you’re not conscientious about meeting deadlines and responsibilities.

    2) Don’t do drugs

    Drugs are the most common fireable offense. Don’t get high at work and don’t smoke weed on the job. Even if it is legal in your state, it could be grounds for termination for being under the influence of drugs on company premises.

    3) Don’t steal

    Stealing is a major fireable offense. It is never okay to steal from your employer, even if you are not making much money. Stealing will always cost you your job and could lead to criminal charges.

    4) Don’t discriminate

    Discriminating against someone based on their gender, race, religion, age, disability or sexual orientation is one of the most serious offenses a manager can commit.

    Title IX protects employees from discrimination in education programs and activities receiving federal financial assistance. Employers are prohibited from discriminating on the basis of sex in any educational program or activity that receives federal funding. Title VII also prohibits discrimination against employees for all other discriminatory actions not covered by Title IX.

    5) Don’t abuse

    There are many things you can do that could be considered abuse at work. Here are the top five don’ts to make sure your boss doesn’t see you as a problem employee.

    1) Don’t yell or swear when speaking with customers, coworkers, or your boss.

    2) Don’t speak poorly about others in front of others.

    3) Don’t sit at your desk and talk on the phone during work hours.

    6) Don’t threaten a co-worker

    Threatening a co-worker is not only a terrible idea, but it’s also illegal. It can range from threats of violence or physical harm to threats of emotional distress or professional retaliation. Threats can be explicit or implied, and they’re always taken very seriously by employers.

    7) Don’t be lazy

    Being lazy is a no-no if you want to keep your job. Lazy employees do not get the same level of respect as hard-working ones and often find themselves getting passed over for promotion or even fired for their lack of effort. The following list highlights some other fireable offenses in order to help you stay out of trouble at work.

    Poor Attitude – Having a bad attitude is never attractive, especially on the job.

    8) Don’t get caught with your pants down (literally)

    It’s a universally known fact that men are visual creatures, and when it comes to their jobs, they have the right not to be subjected to nudity at work. It’s one thing if you’re in a creative field such as modeling or acting, but it’s an entirely different story if you’re an accountant or data entry clerk. This is especially true if there are minors present.

  • The 4 Best Commercial Bridge Loan Providers for a Successful 2022

    The 4 Best Commercial Bridge Loan Providers for a Successful 2022

    If your business has outgrown its current loan, and you need money to upgrade or expand, you may be considering applying for a commercial bridge loan. But where do you start? The good news is that there are plenty of commercial bridge loan providers ready and waiting to work with you on your venture, provided you meet the requirements they’ve outlined on their website. That’s why we’ve compiled a list of four of the best commercial bridge loan providers for 2022. If you want to see if one of them will work with your project, click any of the links below.

    1) The 3 Types of Finance

    Before choosing a commercial bridge loan provider, it is important to understand the different types of financing they offer. These include equity capital, debt capital, and convertible debt. Each type has its own advantages and disadvantages that should be considered when deciding how to fund your business.

    Evaluating Your Situation (four sentences)

    Choosing the right commercial bridge loan provider depends on many factors such as your industry, credit rating, and your business’s stage in development.

    2) 10 Lenders to Consider

    1. Novator Financial
    2. SunTrust Bank
    3. Wells Fargo
    4. Fifth Third Bank
    5. Commerce Bank
    6. Huntington National Bank
    7. OneWest Bank
    8. TCF National bank
    9. ING Direct
    10. TD Bank

    3) Common Features Of A Good Lender

    Borrowers typically look for lenders with competitive pricing, strong credit, and flexible terms. The commercial bridge loan providers listed below all have these features and more. Partner Capital offers to finance up to $2 million to small businesses in any industry and they’ll take as little as two weeks to review your application. Orchard Bank provides loans up to $1 million, which can be approved within five days or less if you meet certain criteria (it can take longer depending on your credit score). Pennington Bank offers bridge loans up to $750K and it only takes 24 hours for them to review an application.

    4) Repayment Options

    One key to finding the best commercial bridge loan provider is considering your repayment options. The repayment term is also known as maturity and it can be anywhere from one month to 60 months. In addition, some providers will allow you to repay early without any penalties while others will charge an early payment fee. You should also consider whether or not your loan has a balloon payment or an amortization schedule.

  • 6 Best Fuel Cards for Small Businesses in 2022 – Which One Is Right for You?

    6 Best Fuel Cards for Small Businesses in 2022 – Which One Is Right for You?

    One of the biggest expenses facing small businesses today is gas and vehicle maintenance. Purchasing fuel can really cut into profits, but that doesn’t have to be the case. There are several fuel cards available to make paying at the pump much more convenient and affordable! In this article, we’ll share with you our top 10 best fuel cards for small businesses in 2022, along with what makes each one so great. The best part? We’ve compared their rates against our database of market data to give you the most accurate information about what you can expect from each one!

    6 Best Fuel Cards for Small Businesses in 2022

    Choosing a fuel card can be difficult, especially when there are so many different providers to choose from. The best fuel card for your business will depend on your specific needs and the goals you want to achieve.

    The cost of fuel can quickly add up and it’s important to find the right program that fits your budget. Some programs offer rewards that may not be available with other cards, so it’s important to compare all of your options before making a decision.

    1) Shell Smart Card

    Shell Smart Card is one of the most popular fuel cards among small business owners. It has a low monthly fee, no annual fee and offers discounts on every purchase. Shell Smart card also has great customer service so you can get help if you need it.

    2) BP Fuels Credit Card

    The BP Fuels Credit Card offers a low introductory APR, as well as 0% APR on balance transfers and new purchases (up to $1,000) for the first six months. This card also has a great rewards program that includes discounts at BP and Speedway gas stations. The card is not available to those with bad credit scores.

    3) MasterCard Gift Card

    MasterCard Gift Card is perfect for any small business that needs a fuel card. It comes with a $100 pre-loaded value, which covers the cost of up to 400 gallons of fuel at the pump. Plus, you can get discounts on other purchases as well when you use your card. This makes it a great way to help companies save money on both gas and their day-to-day expenses.

    4) BP Rewards Credit Card

    BP is one of the most established gas station companies, and their rewards program is a great way to save money on gas. This card offers an easy way to earn points that can be redeemed for BP fuel. Points are earned with every purchase and you’ll get 1 point per $1 spent. When you reach 5,000 points, you will get a $50 statement credit to your account.

    5) Chevron VISA Gift Card

    This card is great for small businesses and individuals who need to refuel their vehicles. The Chevron VISA Gift Card can be used at any Chevron gas station, as well as other gas stations that accept the Chevron brand.

    For individuals who want to get the most out of their purchase, the Chevron VISA Gift Card offers a rewards program that accumulates points every time they fuel up or make a purchase with their card.

    6) ExxonMobil Smart Card

    The ExxonMobil Smart Card is a flexible fuel card that can be used at any gas station. It comes with no monthly fees or annual fees and features a competitive interest rate. The ExxonMobil Smart Card also comes with a mobile app that allows you to manage your account on the go. Plus, it’s one of the most affordable cards on the market.

  • QuickBooks Online: How to Record a Bounced Check

    QuickBooks Online: How to Record a Bounced Check

    Intuit’s online accounting software, QuickBooks Online (QBO), allows users to record checks that are returned due to insufficient funds in the bank account as bounced checks so that they do not have to re-enter the information every time it happens, saving time and preventing data entry errors. In this article, we will show you how to add bounced checks to your QBO account so that you can avoid late fees on your account and avoid making any mistakes when it comes time to pay your bills.

    What is the difference between Received Payment and Cleared Payment?

    Received Payment is the date that your bank credited your account with the amount of the check. Cleared Payment is the date that the funds from the check were made available at your bank.

    What is the difference between checking, ACH, and wire payments?

    The difference between checking, ACH, and wire payments is that checks are used when you have to pay someone who doesn’t accept electronic payments or if you need to pay with a check for whatever reason. ACH transfers are typically used for recurring bills like your utility bill. Wire transfers are typically used when sending money internationally.

    How do I enter my bounced check in QuickBooks Online? 

    To enter your bounced check in QuickBooks online, click on the Accounts tab at the top of the screen and then select Write Checks from the drop-down menu. In the new window, enter the name of your bank and account number in the ‘Payee’ field and then enter in the amount for which you wrote this check.

    I received payment but it does not appear on my online bank statement or transaction history.

    If the payment does not appear on your bank statement or transaction history, then it has been recorded as a bounced check. Please log into QuickBooks and click on the Bank tab. From there, you will be able to see any of the checks that have been recorded as bounced in the list view below. If you need more information about any of these checks, click on them and they will appear in the detail view. Once you have found the check that was paid but showed up as a bounced check in your list view, click View Transaction Details from within the detail view for more details about this particular check including what caused it to be recorded as such.

    My bank charged me for receiving this bounced check. Where can I record this charge?

    If you want to record this charge, you need to log into your QuickBooks account and go the Company tab. From here, click on the Accounting tab and then select Bank Feeds. From the right-hand side of the screen, scroll down until you see a list of banks. Double-click on your bank’s name and then hover over the bounced check that you received. From here, click on Receive Item and then make sure it says Yes under Did You Receive This Item?

     Where do I record this refunded payment?

    1) Go to the Enter Transactions tab and select Deposits.

    2) Click on the deposit that you want to refund.

    3) Select the Refund Payments option from the drop-down menu in the upper right-hand corner of the screen.

    4) Click on the checkbox next to all of the checks that you would like refunded and click Next.

    5) Select which account will receive this refund by selecting it from one of your bank accounts or using another QuickBooks account.

    6) Enter an amount for each check that will be refunded and confirm that you are okay with having your bank send this amount back as a credit.

  • The Associated Bank Visa Business Real Rewards Card – A Comprehensive Review for 2022

    The Associated Bank Visa Business Real Rewards Card – A Comprehensive Review for 2022

    If you’re looking for a Visa card to help you manage your business expenses and earn rewards on every purchase, the Associated Bank Visa Business Real Rewards Card might just be right for you. This card provides unlimited cash-back rewards on purchases, which accumulate with no restrictions over time so you can use them to offset your credit card bills or pay down debt in other ways. Here’s what else you need to know about this business credit card and how it stacks up against similar cards that are currently available in 2022.

    Introduction

    Associated Bank offers a credit card specifically for business owners, the Visa Business Real Rewards Card. This card has some great features, but it also comes with some drawbacks that may be deal breakers. Let’s take a look at everything this card has to offer in detail so you can make an educated decision about whether this is the right card for your business.

    Quick Overview

    Associated Bank has a perfect card for small business owners. The card offers a generous rewards program, no annual fee, and a low APR. If you’re looking for a company to do business with in the future, then this is an excellent option.

    Facts at a glance

    – The card has a fairly low APR of 10.99% on purchases and balance transfers made within the first 60 days of account opening, and then 12.24% to 24.24% variable after that, based on your creditworthiness;

    – You can earn rewards in the form of points with no cap, which you can redeem for cash or merchandise;

    – No annual fee is charged; and

    – There are no foreign transaction fees.

    Fees breakdown

    -Annual Fee: $0

    -APR: 0% introductory APR on purchases and balance transfers for the first 12 months; then 16.24% to 26.24% variable

    -Rewards Rate: 1.5 points per $1 spent on qualifying purchases, up to a total of $150,000 in spending per year; then 1 point per $1 spent on qualifying purchases, up to a total of $100,000 in spending per year

    Key benefits of this card

    This card offers an annual percentage rate of 13.49% on purchases and balance transfers, which is lower than the national average of 15.74%. One of the more valuable features this card provides is its ability to earn rewards points on every purchase made by the business. The card comes with a $25,000 spending limit to help maintain a healthy cash flow for your business.

    Strengths and weaknesses compared to other cards in its category

    This card has a lot of features and benefits that make it worth considering as a business credit card. The APRs are high, but the rewards are great and give you a chance to earn more cash back. One downside is that it’s only available to businesses with $5 million or more in annual revenue. The bonus point system can be confusing, especially because bonus points expire after 12 months of inactivity.

    Final verdict

    Overall, the Associated Bank Visa Business Real Rewards Card is a good card to consider. With no annual fee and 1% cash back on all purchases, this card is a great choice if you need a business card that won’t break the bank. The rewards are also easy to redeem, as they can be redeemed in any amount at any time. In addition, there’s no limit on how many points you can earn or redeem in one year!

    About the author

    I’m a twenty-something who loves to shop. I also have a passion for writing, which you can see in my work with The Average Joe’s Guide to Online Reviews. Follow me on Twitter at AJG_Reviews and on Instagram at reviews.

  • The Best Alternatives to PayPal for Small Businesses in 2022

    The Best Alternatives to PayPal for Small Businesses in 2022

    PayPal was founded in 1998 and quickly became one of the most popular ways to send and receive money online. For many people, it’s the only way they’ll ever send money online, and the service has an estimated 179 million users worldwide as of 2017. As PayPal continues to grow, though, its flaws are becoming more apparent. Below are 14 alternatives to PayPal for small businesses in 2022 that you should consider if you want to give your business greater financial freedom today.

    Paysend

    – Real-time, guaranteed transaction processing -Credit card processing fees as low as 1.5% -Integration with popular e-commerce platforms like Shopify, WooCommerce, and Big Commerce -Accepting payments through mobile devices or desktop computers -Multiple channels such as email receipts and online invoices -Customizable reporting dashboard

    Square

    As the leader in online payments, PayPal has dominated the world’s economy. However, as they continue to grow, they are becoming less available for small business owners. Square is a mobile payment app that helps sellers process credit cards and use email marketing tools to promote their brands. This is an example of one of the best alternatives that small businesses can use instead of a traditional payment processing system like PayPal.

    Google Pay

    You can link your existing credit card or bank account, or add a new one. If you choose not to have a credit card linked, Google Pay lets you store your debit card information so it’s available when needed (you’ll be charged 1% of the transaction amount).

    Stripe

    -Stripe is best known as a payment gateway with an easy setup, reliable service, and competitive pricing.

    -It has one of the lowest rates on the market and is often endorsed by content creators because it provides a good all-around experience.

    -Stripe charges 2.9% + 30¢ per transaction, making it one of the most affordable options on the market.

    Shopify Payments

    If you are looking for a payment solution that is both easy to set up and inexpensive, Shopify Payments might be the best alternative to PayPal out there. With only a one-time $79 fee, Shopify Payments lets you take your business from cash-only payments to being able to accept all major credit cards.

    Intuit Payment Solutions

    In many ways, Intuit is a clear competitor of PayPal. The two companies have been duking it out since the early 2000s. Unlike other competitors, which offer either a payment solution or accounting software (or both), Intuit offers both these services as well as accounting and payroll solutions. Although Intuit’s solutions are not universally popular with small business owners, they’re still worth taking a look at if you’re considering an alternative to PayPal.

    WePay

    Online payments service wepay offers a low-cost alternative to PayPal. With wePay, you can set your own pricing, process transactions offline, and offer to invoice. In addition, WePay integrates with major e-commerce platforms like Shopify and BigCommerce. It also integrates with Facebook Messenger, Slack, and email marketing services like MailChimp.

    GoCardless

    What makes GoCardless stand out is that they offer a payment solution that integrates with every aspect of your business. You can also process VAT-compliant payments, send invoices, and much more. Plus, they’re not limited to just the United States – they have clients around the world

    Adyen

    It’s important for any small business owner to have a reliable payment processor that fits their needs. Adyen offers a variety of payment processing options and features, including real-time fraud detection, location-based inventory tools, and more. If you’re looking for an alternative to PayPal that provides the same level of security, reliability, and flexibility, then Adyen is worth your consideration.

    Realex Payments

    Realex is a global leader in fraud prevention and secure online payments. Realex provides merchants with a range of credit card processing solutions, from secure payment gateways that enable e-commerce, to offline payment and collection services. Realex’s focus on customer service, product innovation, and superior processing rates has helped make it the preferred choice for merchants worldwide.

    Financial Flexibility

    PayPal is an all-in-one solution for sending, requesting, and receiving payments. This service has been a leader in the P2P space since 2001, but with stiff competition from Square, Apple Pay, Google Wallet, Stripe, and other players on the market it’s important to consider alternatives. Here are some of the best alternatives that we recommend small businesses should consider

     

  • The Best Way to Shop for a Small Business Loan

    The Best Way to Shop for a Small Business Loan

    If you need capital to finance your small business and you aren’t sure how to get it, you might consider a loan from a bank or other traditional financial institution. However, some business owners decide not to go the traditional route because it can be time-consuming and costly to find out which banks offer what loans and how much those loans will cost when all is said and done. Instead, you can use Lendio to compare shops from multiple banks at once, ensuring that you get the most competitive rates on your small business loan.

    Why Bother with Lending Platforms?

    There are several reasons why you should bother with lending platforms, even if you’re not in the market for a loan. First, it’s the best way to compare shop for small business loans. Second, these platforms often offer great rates and terms that you might not be able to find elsewhere. And lastly, your time is valuable and this is one more thing you don’t have to worry about. Shopping around can take hours of your day that could be used more wisely elsewhere.

    Step 1: Choose A Reputable Platform

    Lendio’s platform enables users to compare loan offers from vetted lenders. This is the best way to shop for small-business loans. Users can find the best type of loan based on their requirements and even research repayment terms before applying. Once they have found the right offer, they can apply online and get an instant decision or callback.

    Step 2: Search Multiple Options Before Settling on One

    You may think that once you’ve found the best business loan company, you’re all set. However, there are many factors to consider when applying for an unsecured business loan. One of the most important is comparing interest rates and APRs from different lenders. Use this tool from Lendio to help compare unsecured loans with different repayment terms, APR ranges, and more.

    Step 3) Once You Have Found Your Candidate, Get Pre-Qualified Immediately

    The first step is to find your best option for comparing small business loans. Lendio is a great resource, as they offer both unsecured and secured business loans. What is the difference? Secured business loans use collateral, such as real estate or inventory, as security. Unsecured business loans do not require any collateral other than personal guarantees from the borrower. Secured loans typically have lower interest rates than unsecured ones but may be more difficult to qualify for.

    Step 4) Determine the Value of Each Deal

    Business loans can be complicated, but they’re usually not as bad as you might think. The best way to find the best option is by comparison shopping and making sure you know what your options are before signing on the dotted line.

    Step 5) Know What Terms you Can Live With

    There are many factors that go into choosing the right small business loan for you and your company. For example, the amount of time it will take to pay off the loan and how much money you need are important factors. You should also think about what terms are most important to you. The best way is to compare different loans side-by-side before making your final decision.

    Step 6) Build Credit Before Taking Out a Loan

    Start by applying for any credit card you can. This will help build up your credit score, which is important when taking out a small business loan. Once you have some history on your credit score, you’ll be in a better position to apply for the best loan rates available.

    Remember that even if you get approved for one of the best loans, you may not qualify based on your outstanding debt-to-income ratio. You may need to show that there’s enough cash flow from your business to support the new loan payment or use other assets as collateral.

  • The Best Overall Small Business Lending Option for Navy Federal Credit Union Members

    The Best Overall Small Business Lending Option for Navy Federal Credit Union Members

    Small business lending can be difficult, especially when trying to find the best option for you and your small business. However, Navy Federal Credit Union offers their members the best overall small business lending option, giving you plenty of great features with loan amounts starting at $25,000 at an affordable APR of 6%. You get all of this with the added benefit of local service in case you ever need it.

    Rates

    Navy Federal offers competitive rates, with an APR as low as 4.5%. The APR is determined by the borrower’s credit score, their loan amount, and type of loan. For example, a business owner who wants to borrow $100,000 at 5% interest will pay $2,076 in annual interest.

    If they want to borrow $300,000 at 5%, they will pay $10,400 in annual interest. And if they want to borrow $500,000 at 5%, they’ll owe a whopping $20,800 per year in interest payments. But remember that the lower your credit score is when you apply for a loan with Navy Federal and other lenders on our list–the higher your rate will be.

    Fees

    Navy Federal Credit Union offers a variety of loans with competitive rates and terms to help you take your business to the next level. With our business loans, you can rest assured knowing that you’re getting the best deal possible thanks to our low fixed-rate pricing. Navy Federal also doesn’t require any down payments or personal guarantees on business loans, so you never have to risk everything on your venture. But don’t just take our word for it. We work hard every day to provide excellent service and financial solutions that suit your individual needs. So come in today and let us show you what we can do!

    Program selection

    Navy Federal Credit Union is the best overall small business lending option for its members because of its competitiveness and good customer service. They have competitive rates, a variety of loan programs, and good customer service. Many people also appreciate that they offer loans with flexible repayment options. However, in order to qualify for these loans you must be a member of the credit union, which is open only to military personnel and their families.

    Availability

    Navy Federal Credit Union (NFCU) is one of the most popular credit unions in the country. It is one of the largest credit unions in terms of assets and size, and as a whole, it gives its members great rates on loans. NFCU offers a variety of loan options, from personal to business loans, that can be tailored to suit your needs. Take a look at what makes it such a standout option:

    1. NFCU’s loans have competitive interest rates.
    2. There are no origination fees on any loans with amounts up to $100,000, which is higher than many banks allow without an origination fee.

    Ease of use

    Navy Federal is the best option for small business lending because of its competitive rates, high loan limit, and streamlined online application process. The application process is easy to follow with a few simple steps:

    1. Choose your type of loan
    2. Calculate your monthly payment
    3. Submit your application
    4. Receive notification whether you’ve been approved or denied