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Small Business

Understanding Term Loans for Your Small Business

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners.

Term loans
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If you need money to start a new business or to grow your existing one, a good option may be a term loan. In the complex, competitive and sometimes confusing world of small business financing, term loans are a straightforward way of borrowing. You receive a lump sum of money, less any fees the lender charges. You then pay back the loan in full, with interest, in regular, fixed payments over a set period of time. Hence, the name: term loan.

You’ve likely had similar loans if you’ve ever financed a car, borrowed money for college or bought a home. These loans are typically set up so most of your payment goes toward paying interest at the beginning of the loan. Term loans can usually be repaid early to save on interest, although some lenders may charge a prepayment penalty.

How do term loans work?

Banks typically offer fairly low rates on term loans but carry stricter requirements, such as high annual revenue and a strong personal credit score. The approval process on bank term loans is usually slower than for online applicants. There are short-, medium- and long-term loans depending on your cash needs.

Short-term loans

These loans are typically repayable in as little as three to 18 months. They are ideal for businesses with revenues that fluctuate seasonally or that require a small, quick influx of cash that can be repaid in the short term with incoming revenue. Repayment terms can be daily, weekly or monthly.

Medium-term loans

These loans typically last two to five years. They can be backed by collateral, either an asset you already own or the equipment the loan is being used to purchase. Other times, the loan can be unsecured. These can be an attractive option for helping a business open a second location, buy equipment, refinance debt or increase staffing.

Long-term loans

These loans can extend up to 25 years for just thousands of dollars up to millions of dollars. These can help a business undertake a large construction project or make a major purchase such as acquiring another business.

How hard is it to qualify for one?

A traditional term loan is generally attainable as long as you’ve been in business at least a year or two, have a good credit score and can show steady revenue, said Sandy Headley, vice president of Cleveland, Ga.-based Access to Capital for Entrepreneurs (ACE) Inc. and a banker for 20-plus years. It’s typically easier to qualify for a loan with a shorter term, but the interest rate likely will be higher.

Term loans are traditionally very popular with the business community, said Headley, but lines of credit, which can have low interest rates, also can be good options.“It just really depends on the use of the funds,” she said.

If a business needs money to address short-term cash flow problems, then a term loan likely isn’t the answer, Headley said. “But if you are going to make an expansion because you’re adding a new product line then a term loan is what you need,” she said.

Pros and cons of term loans

Here’s Headley’s take on the pros and cons of term loans.

Pros

  • The longer terms make payments more affordable.
  • The influx of funds help with cash flow.
  • Term loans provide the needed working capital to purchase equipment and inventory and to expand the business.

Cons

  • You have to be able to make the payment every month.
  • Term loans can have balloon payments at the end, which can cause anxiety with interest rates rising.
  • Collateral is almost always required, meaning you’re backing your own loan.

Term loan FAQs

Since term loans allow a business to borrow more money at a lower rate and over a longer term, these loans are tailor-made for specific projects, such as an expansion, equipment purchase or buildout.

A business with a good track record and good credit would be ideal to take advantage of these types of loans, their low interest rates, and the long repayment terms they can offer.

No one type of loan works for every business. Here are a couple of scenarios where other types of loan products might be a better fit.

If you have poor credit: If you have less-than-satisfactory credit, the term loan you apply for may come with a higher interest rate. That’s because a lender evaluates your loan application using both your personal and business credit scores. If you haven’t paid previous debts on time or at all, the lender considers you a higher risk of default.

If you are a new or start-up business: Your business likely won’t qualify for a term loan if it hasn’t been in operation for at least a year. The lender wants to see that you have enough cash coming in to meet the term loan repayment without stressing your business operations. because business operations should be helped by the term loan without it putting too much stress on cash flow. With little track record, the lender can’t accurately determine if you can likely make payments.

Shopping for term loans

There’s a wide-open market for term loans with banks, credit union and online lenders, as well as for alternative financing. Typically, you’ll find that term loans issued through banks and credit unions have the lowest interest rates. But to qualify at a bank or credit union, you typically need good credit and a strong business record. You’ll also need patience because the application and approval processes will take longer.

If speed is important, online business lenders may be a better option. But you should be aware that the rates they charge on term loans will likely be higher. It’s important to closely examine the numbers and the tradeoffs.

Fees

Fees vary by lender and financing product. That’s why it’s important to review your loan documents carefully. Here are some to look for in your offer:

  • Origination fee: This upfront fee is charged for processing a new loan.
  • Processing fee: These are other various underwriting costs that lenders may pass on to the borrower.
  • Documentation fee: This is fee for filing the loan application. Not all lenders charge this fee.
  • Late fee: The lender charges these fees when your payment is not made on time.
  • Broker’s fee: If you don’t work directly with the lender, this fee can be charged by the broker, or middleman, who helps to arrange the loan. Small businesses should carefully consider whether to use a broker.
  • Other fees: These can include closing fees, prepayment fees, guarantee fees, among others. Check the fine print before signing to know when your lender can charge you.

Other loan considerations

  • Secured vs. unsecured term loans: To mitigate the risk of default, some banks require assets or collateral to back a loan. This is a secured loan and the lender maintains a stake in that asset until the debt is paid off. By contrast, unsecured loans don’t have collateral and are riskier for lenders. To offset some of that risk, unsecured loans may come with higher interest rates and shorter repayment schedules.
  • Fixed vs. variable interest rate: If a loan has a fixed interest rate, then that rate remains unchanged during the entire term. The primary advantage of a fixed interest rate is its certainty. A variable rate on a loan can decrease or increase. Typically, variable-rate loans initially have a lower rate than similar fixed-rate loans. But if the index the rate is tied to increases — typically the prime rate — then you may end up paying more in interest over time than the fixed-rate loan.

What do you need to apply for a term loan?

Each lender has its own requirements, but the following are typical documents lenders require for a term loan application.

  • Tax Employer Identification Number (EIN): Your EIN is needed to request tax return transcripts from the IRS.
  • Tax returns: Tax returns show the health of your finances. You may need to provide copies of both your personal and business tax returns.
  • Balance sheet and income statement: These provide the most comprehensive picture of your finances compared with tax records or credit score.
  • Bank statements: The bank statements show your day-to-day management of cash inflows and outflows. This can reveal if you can manage a large sum of money and pay back your term loan.
  • Debt schedule: This helps a lender determine whether you can handle new debt and gives an accounting of all your debts, including loans, leases, contracts, and notes payable.
  • Driver’s license: This is how lenders obtain proof of identity.
  • Credit reports: The lender may pull a credit report on both you and your business.

Don’t be surprised if the term loan requires both collateral and a personal guarantee. Banks and the SBA typically prefer if the value of the collateral totals the loan amount. Alternative lenders are more lenient, but may require a security interest and a UCC-1 financing statements, which allows a creditor to take a lien against your property.

The bottom line

Because you can get more money at a lower rate and over a longer term, term loans are well-suited for bigger, longer-term business needs such as major equipment purchases, expansion plans or property buildout. The funds you get come at a lower rate, making it less expensive over the long term. These loans typically have more stringent requirements to qualify, but the terms may well make them worth it. As always, shop for the best deal and be mindful to read the fine print.

Advertiser Disclosure: The products that appear on this site may be from companies from which MagnifyMoney receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). MagnifyMoney does not include all financial institutions or all products offered available in the marketplace.

Nancy Badertscher
Nancy Badertscher |

Nancy Badertscher is a writer at MagnifyMoney. You can email Nancy here

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Small Business

How Tariffs Affect Small Businesses

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners.

Tariffs are duties charged on imports, and U.S. buyers pay the costs. Small businesses that bring in imported products can either absorb the expense or pass it along to their customers. When tariffs increase, as they have on certain goods imported from China, as well as the import of steel and aluminum products, countries often retaliate by increasing their own tariffs on American goods arriving on international shores.

Small businesses bear the brunt of tariff hikes and the resulting trade wars. “Small businesses are especially hard-pressed because they don’t have the reserves to tap into to wait for more stable circumstances,” said Davidson College economics professor Shyam Gouri Suresh.

We’ll help you understand how tariffs affect small businesses and what you can do to protect your firm when unexpected costs threaten growth.

What is a tariff?

A tariff is a tax that a country levies on imported goods and services. Tariffs increase the price of imports, potentially making them less competitive or desirable compared to domestic goods and services. 

A tariff is typically charged as a percentage of the value of the product that a buyer must pay a foreign exporter. In the U.S., importers must pay tariffs at 328 ports of entry, which the U.S. Customs and Border Protection controls. Companies that pay the tariffs to bring goods into the country likely pass that cost on to customers. The paid tariff goes to the Department of Treasury and makes up a portion of the federal government’s revenue.

Tariff increases

A country may introduce a new tariff or increase existing ones in order to restrict trade from particular countries or reduce imports of specific types of products, which is what the U.S. Trade Representative decided to do to combat unfair trade practices with China. The U.S. Chamber of Commerce implemented tariffs of its own on certain imports of aluminum and steel for national security reasons. Trade talks continue between the United States and China as of press time, but at least $300 billion worth of Chinese imports face tariffs, some as high as 25%.

The effects tariffs have on small business

These increased tariffs and resulting trade wars have cost American businesses big and small $38 billion, according to Tariffs Hurt the Heartland, a coalition of businesses and trade groups that oppose the tariffs. Automakers, tech companies and agricultural producers have been especially hard hit, but the National Retail Federation has also compiled profiles of affected small business owners from music teachers to gift shop owners.

“They have to either swallow this increase in price, or they have to pass that price increase on to the end consumer,” Gouri Suresh said.

Passing on the costs of tariffs: A closer look

Big businesses are in a better position to absorb higher costs than small businesses. Large companies can operate on smaller margins, while small businesses don’t have as much of a cushion and eventually must raise prices.

“As they increase prices, they may start losing their customer base,” Gouri Suresh said. “It’s a really difficult bind to be in. It favors bigger businesses that have deeper pockets who can ride out this trade war.”

Some firms may not be able to pass costs onto customers if they compete with businesses unaffected by high tariffs, said Katheryn Russ, an economics professor at the University of California, Davis. Small businesses likely have to take a blow to their profit margins if competitors don’t have to make similar price increases because of tariffs.

“If all businesses are having to raise their prices in a particular product space, then that’s different,” Russ said. “And this does seem to be a broad-based cost increase for U.S. firms.”

U.S. producers facing Chinese tariffs conversely have had to drop prices to remain competitive in China. For instance, soy farmers in the U.S. significantly reduced prices to avoid passing on cost increases to Chinese consumers.

Businesses that stand to benefit from tariffs

Tariffs on foreign goods should benefit domestic producers making similar products, as their products would be less expensive than those taxed at a high rate. Those producers may be able to raise their prices knowing the demand is higher, Gouri Suresh said.

For instance, American steelmakers are reportedly seeing bigger profits from higher demand, increased prices and a boost in production. But the rush to production may backfire as it meets a global economic slowdown.

How to prepare your business for economic changes

The U.S. government’s actions have been unpredictable, which makes it challenging to plan and prepare for increased tariffs, Gouri Suresh said. Tariffs have historically been implemented slowly, but the recent increases have not reflected the gradual nature of past rate hikes.

“The problem with what’s happening with the most recent trade war is the numbers are flying every day,” he said.

Tariffs have also affected industries differently, making it difficult to compare the impact across companies, Russ said. “It’s hard to offer specific advice. We just don’t know right now what’s going to happen,” she said. “I guess…just be ready for anything.”

Despite the unpredictability of the trade war, there are steps you could take to better position your business for economic changes.

Cut back where you can.

To minimize the price increases that you’d have to pass on to customers, consider cutting back your operating costs as much as possible. This could allow you to run the business on a tight budget when needed.

Consider an industry change.

If you can easily alter your business concept, you may find that an adjacent industry is less affected by tariffs than the one in which you currently operate.

“Being nimble is going to be a really big boon for businesses if they can turn on a dime and reconsider what they’re buying and what they’re selling,” Gouri Suresh said.

Apply for a tariff exemption

Several categories of goods are exempt from tariffs, such as items that are necessary for health and safety. Goods are exempt on an industry-wide basis, and large groups of lobbyists and business owners must typically work together to seek exemptions.

Companies affected by recent tariffs may request to be excluded from Section 301 tariffs on Chinese goods and Section 232 steel and aluminum tariffs. Thousands of companies have filed exemption requests with the Office of U.S. Trade Representative, claiming they are unable to find comparable goods outside of China or that it would be extremely costly to do so. Approvals for these requests, so far, have been low.

The bottom line on how tariffs affect small businesses

U.S. tariffs on Chinese goods are hurting some American firms more than the intended target, Gouri Suresh said. The widespread impact on U.S. businesses and consumers may not be sustainable and tariffs could soon decrease. But if not, high prices on imported goods may become the new normal.

“In the long run, either the tariffs end and the trade war ends…or everybody learns to live in this new world,” he said.

In the meantime, small businesses will likely continue to feel the effects of tariff increases. It may be best for entrepreneurs to hunker down and operate as efficiently as possible until stable conditions return, Gouri Suresh said.

“When things go bad, they’re the ones who are going to suffer first,” he said. “But they are also the ones who will benefit the most when things turn for the better.”

Advertiser Disclosure: The products that appear on this site may be from companies from which MagnifyMoney receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). MagnifyMoney does not include all financial institutions or all products offered available in the marketplace.

Melissa Wylie
Melissa Wylie |

Melissa Wylie is a writer at MagnifyMoney. You can email Melissa at [email protected]

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Small Business

Etsy Alternatives: 5 Options for Creative Businesses

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners.

Etsy is an online marketplace for independent sellers of handmade, vintage and craft products. For a fee, creative entrepreneurs can open their own ecommerce shop on the Etsy platform to sell goods and services. But it’s not the only platform artists and craft makers can use to sell their wares. Amazon Handmade, Depop and Zibbett offer similar marketplaces, while eBay is for sellers of all types of goods, not just handmade ones, and has size on its side. Or, you could rely on your own ecommerce site through a provider like Shopify.

We’ll break down the Etsy alternatives so you can determine the best way to share your handmade products.

Selling on Etsy: When to stay and when to go

Stay: Business owners who don’t yet have a customer base.

Etsy has more than 2,300 active sellers on the platform and more than 42,000 buyers; according to Jesse Tyler, marketing director of Classy Llama, an ecommerce agency based in Springfield, Missouri, entrepreneurs just starting out can benefit from that built-in audience that Etsy provides.

Sellers have the opportunity to be featured on the site, as Etsy handpicks shops to highlight throughout the marketplace. If selected, you could benefit from being exposed to hundreds of potential customers. Sellers could also promote their listings through paid ads on the site.

However, Etsy’s sellers are also bound to its policies and must keep up with changing rules to rank high in search results on the site. For instance, Etsy announced in July that it would encourage sellers to offer free shipping for orders totaling at least $35. Shops that don’t make the change to offer free shipping won’t receive priority placement in Etsy search results.

Stay: Those with limited time for site setup.

For creative entrepreneurs looking to sell goods online, Etsy could be an attractive starting point. Etsy provides tools to set up an online store, taking the burden off the business owner to build a site from scratch, Tyler said.

“If you’re using Etsy, it’s about leveraging what already exists,” he said. “There’s a lot less responsibility and a lot less work to get set up.”

If you’re not tech savvy or don’t want the hassle of constructing an ecommerce site, Etsy provides tools to quickly set up a shop. You’d need to provide information about your business and products, as well as how you want to accept payments, and Etsy would populate a website for you to manage. From there, you could rearrange items on your page to customize your store.

Etsy charges fees for listing and selling items — a $0.20 listing fee, 5% transaction fee and 3% plus $0.25 for payment processing — but in exchange Etsy takes on the technical aspects of running an ecommerce site.

Sellers must also adhere to Etsy’s policies, including restrictions on the type of products you can sell and shipping requirements, as mentioned earlier.

Stay: Entrepreneurs with limited marketing budgets.

Generating an audience for a new ecommerce site can be challenging, Tyler noted, especially if you don’t invest in advertising. Selling on Etsy would give you access to the high volume of people who visit the marketplace.

“If you’re a small seller and you’re not spending money on ads, you’re going to be better off sending them to Etsy and letting Etsy do the work,” he said.

Associating the business with Etsy could also increase the credibility of your brand, Tyler said. People may be more willing to interact with a business that appears on a trusted platform, like Etsy. Kickstarter would be a similar example, he said, and these platforms are often an effective “marketing engine” for new businesses.

The longer you sell on Etsy, the more reviews you would collect from customers. Positive reviews can boost your ranking within the Etsy marketplace, increasing the exposure of your shop, said Tyler. A positive reputation on Etsy can be immensely valuable to sellers.

“If you’re doing well on Etsy, it might not ever make sense to leave,” he said. “Your reviews and repeat customers, those are things that are kind of hard to replace if you go.”

Consider an Etsy alternative: Small businesses with greater ad budgets.

If you want to invest in advertisements, it would be best to direct customers to your own website rather than an Etsy domain, Tyler said. Instead of using Etsy’s paid ad campaigns, consider other, free ways to increase your Etsy ranking.

A new site would require you to make a significant marketing investment to gain traction. But if you were already planning to advertise your business, it could make sense.

Consider an Etsy alternative: Own your customer base.

When selling through your own ecommerce business, you could collect valuable information from your customers, such as email addresses. Etsy doesn’t allow sellers to collect email addresses from buyers to conduct further communication. But as a business owner, obtaining addresses allows you to directly connect with customers and generate new leads.

Operating outside of a marketplace like Etsy would allow you to control your communication with current and potential clients.

5 Etsy alternatives for crafty entrepreneurs

Etsy is considered a consumer to consumer (C2C) marketplace, meaning it serves as a neutral platform to sell goods. Etsy facilitates transactions and takes a percentage of sales, and other marketplace platforms do the same. On the other hand, software as a service (SaaS) providers give users their own URL and control of their domain in exchange for an ongoing fee.

Whether you’re looking for another marketplace in which to sell your products or a site to host your own store, here are a few Etsy alternatives to check out for your small business.

 EtsyShopifyAmazon HandmadeDepopZibbeteBay
Subscription feeNoYesNo, for 40 items or lessNoYesYes
Starting costListing fee: 20 cents/item

Transaction fee: 5%

Payment processing fee: 3% plus 25 cents
Subscription: $29 to $299/month

Credit card fee: Starting at: 2.7% plus 0 cents (in-person rate); 2.9% + 30 cents (online rate)
Referral fee: $1 or 15% of the total sale price, whichever is higherFlat fee: 10% on each item sold

Payment fee: 2.9% plus 20 cents
Subscription: $5 or $6 per month, per channel (2 minimum), plus channel feesSubscription: $4.95 to $349.95/month

Insertion fee: 5 cents to 30 cents/item

Final value fee: 2% to 10%
Free trialNoYesNoNoYesNo
Choice of payment optionYesYes, for a feeYesNo (PayPal only)YesYes

1. Shopify

Shopify is an ecommerce platform that allows business owners to create a cloud-based online store. Users can buy their own domain name or connect an existing URL to their store. Shopify’s store builder tool makes it easy to design a site if you don’t have web development experience.

New users can try Shopify for free for 14 days. Shopify requires users to purchase a monthly subscription, offered starting with its entry plan:

  • Basic Shopify subscriptions start at $29 per month and include an ecommerce website and blog, space for unlimited products and full-time customer support. Basic plans include account access for two people and a 64% shipping discount. Shopify charges a fee to accept online credit card payments — 2.9% plus $0.30 for the Basic plan.

As you advance to more expensive subscription tiers, available site features increase, and credit card processing fees decrease.

2. Amazon Handmade

The Amazon Handmade marketplace is designed for artisans and craft makers who sell products online. Sellers must submit an application before setting up a shop. Upon receiving approval, you would choose your business name, payment method and provide your credit card information. You can then list products in categories such as artwork, beauty and personal care, clothing, jewelry and watches, among others.

You would need to register for a Professional selling plan, which is free, though if you plan to list more than 40 items in your shop, you would be subject to a $39.99 monthly fee. All sellers would owe a fee on each item sold. Amazon charges either 15% of the total sale price or $1, whichever is higher.

3. Depop

Depop is an app-based marketplace for creatives with a social component. Users can see what products others are liking, buying and selling. As a seller, you would create a Depop profile that would be featured in the app. You would need to provide a description of what you’re selling and your policy on shipping and returns. Sellers need at least four items to list when launching an account. Depop uses PayPal to facilitate transactions and you would need to connect a PayPal account for Depop to verify before you can accept payments.

Although sellers don’t have to pay listing or subscription fees, Depop charges a 10% flat rate on each item sold. Because Depop partners with PayPal to conduct secure transactions, sellers are also subject to a fee of 2.9%, plus $0.20 for payments. You can ship through Depop and choose whether you or the buyer would be covering shipping costs. You can generate a shipping label through the app, then drop off the item at a post office or with another courier.

4. Zibbet

Zibbet allows creative entrepreneurs to sell in the Zibbet marketplace, as well as through other sales channels — for example, Zibbet can connect to other platforms, including Etsy, letting you manage your sales in one place. Zibbet gives users the ability to customize their shop, list unlimited products and run sales and promotions. If you’ve connected your Zibbet store to other sales channels, all order details would be imported to Zibbet for you to manage, and any changes made to your store through your Zibbet dashboard would be updated on all channels.

Zibbet offers a 14-day free trial for new users. After that, the platform costs $5 per month if you choose to receive a yearly bill, or $6 per month if you’re billed monthly. Each channel that’s connected to your Zibbet account — there’s a two-channel minimum — would cost an additional $5 or $6, depending on your billing schedule. Zibbet doesn’t charge listing or transaction fees, but you would be subject to fees from other channels. For example, if you connect your Zibbet store to Etsy, you would owe Etsy’s fees.

5. eBay

eBay offers a personal or business account, depending on what you plan to sell. A business account is best if you want to sell large amounts of items, handmade products or items that you bought with the intention to resell. Similar to other platforms, eBay allows you to create listings for items you want to sell, including shipping options and how customers will pay you. eBay’s Seller Hub provides tools like sales tracking to help business owners manage and grow their online store.

eBay charges a monthly subscription to run a store, which offers more listings and lower fees than selling without a store. There are a range of subscription tiers, including its entry plan:

  • Starter subscriptions costs $7.95 per month, or $4.95 per month if you sign up for a yearlong plan. The Starter plan also comes with 100 free listings, with each additional listing costing $0.30 per month. eBay also charges all sellers a percentage of each final sale. The final value fee ranges from 2-12% for Starter subscribers. Sellers also get a monthly allocation of “zero insertion fee listings,” which are items you could list for free.

Combining Etsy and alternatives

You can open both an Etsy shop and an ecommerce store on another platform, and it could be a smart strategy to do so, said Tyler. For instance, large enterprise companies typically sell through multiple channels, such as retail stores and their own store or website, he said.

You could take advantage of Etsy’s built-in audience while working on your own ecommerce site. You would likely have more freedom to design and customize your own domain, though you would need to make sure it appeals to customers. People can be hesitant to trust a new site, Tyler said, and it could help if you also have a presence on Etsy.

“If you set up a shop yourself and it doesn’t look great and there’s not a lot of reviews, people might be apprehensive about buying from it,” he said.

The bottom line

There are several places for business owners who want to sell handmade or craft products online to set up shop.

Creating your own ecommerce site on a hosting platform like Shopify would give you an independent domain for your business. You wouldn’t be associated with a larger marketplace and you wouldn’t need to compete with other sellers on the same platform.

But it takes time and commitment to bring people to a new website, and you may find that consumers can be wary of a startup ecommerce brand.

“A Shopify site might bring disappointment,” Tyler said. “You have to do a lot of work to bring traffic and build an audience.”

A marketplace with name recognition, like Etsy, could be a better starting point for new entrepreneurs. Etsy provides tools to simplify the process of setting up an online store. Though you would have to pay listing fees and face high competition, your brand could benefit from the exposure that Etsy provides, Tyler said: “If you haven’t built an audience, this is a great, safe place to do that.”

Still, keep in mind that you could sell products through Etsy and a secondary ecommerce site to see which is best for your small business. As Tyler put it, “it doesn’t hurt to have both.”

Advertiser Disclosure: The products that appear on this site may be from companies from which MagnifyMoney receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). MagnifyMoney does not include all financial institutions or all products offered available in the marketplace.

Melissa Wylie
Melissa Wylie |

Melissa Wylie is a writer at MagnifyMoney. You can email Melissa at [email protected]