Are business loan payments tax deductible? In short, business loan payments aren’t tax deductible. When a business loan is received by a company, it’s not included as taxable income. In turn, when that loan is repaid, you are not able to deduct loan principal payments. You are simply paying back money you borrowed, not income […]
Wells Fargo is ending a popular consumer lending product, angering some of its customers, CNBC has learned. The bank is shutting down all existing personal lines of credit in coming weeks and has stopped offering the product, according to customer letters reviewed by CNBC. The revolving credit lines, which typically let users borrow $3,000 to […]
Seth Adams Senior Funder at Beach Business Funding There is an old adage that my father always used to say, “Banks don’t want to lend when you need money, they only want to lend when you have enough”. He said a lot of things, but this one still holds true. And why should they lend […]