Category: Business Credit

The following are four of the best ways to strengthen your credit profile in order to get your firm the funding it needs

For businesses that sells good or services to other, invoice factoring can be a way to keep working capital flowing more consistently

Finding enough and the right kind of small business financing is vital to every growing company. Small business loans can be a great windfall for any firm, but over the years several myths have been built up around them. While there can be some struggles and hard work associated with securing a loan, here are three myths that should be dispelled. Myth #1 – Don’t Ask for Too Much Money When asking a lender for funds, the amount is not so important as the reasons why you are asking for that sum. […]

As your small business grows, you may find it necessary to have employees make purchases for the company. Cash and business checks are possibilities, but both have limits and liabilities. Business credit cards can offer at least 3 great benefits: 1. Tracking Purchases is Simpler With business credit cards, all purchases are easy to track. You can simply go online to see complete records of every transaction. When using cash and reimbursements, it can easier for employees to fudge the numbers […]

There are a plethora of online business loans available today. Most of these are short-term loans, similar to cash-advance loans. They can charge extremely high interest rates, but typically require little in the way of background or credit checks. This can be especially attractive to small business owners without a long business history or who are in a cash crunch. Even still, entrepreneurs should be careful before jumping into a short-term online loan. Here are 3 concepts to consider before signing […]

Paying for the daily and long-term needs of a growing business can be challenging. Venture capital investments and small business loans can cover many of those costs, if you can get them. One of the easiest options for business funding is business credit cards. While they do not generally have high enough limits to finance all purchases, many daily expenses can be effectively managed with business credit cards. Beyond just purchasing power, these cards offer three great bonuses. Rewards Most […]

When starting a business, entrepreneurs will generally look anywhere and everywhere for funding. Families and friends get tapped, credit cards are maxed out. Traditional small business loans can be difficult for newcomers to secure. Plus the idea of having to pledge their own assets like their houses or cars is a scary thought for many new business owners. At this point, many entrepreneurs turn to unsecured business loans for financing help. An unsecured business loan is one that does not require […]

Having a stellar idea for a product or service is the first key ingredient to building a successful business. Putting sound financial strategies into place is possibly the next key piece to making sure your company thrives. Without a financial plan of how to manage business expenses and earnings, there is a good chance that soon there will be no money left to manage. Here are three of the most important rules for putting your business finances on a safe and secure path. Bootstrapping Often Beats […]

While many small business owners decide to incorporate their companies in order to protect their personal assets from business liability, the financial benefits can extend far beyond that single goal. Turning your business into a corporation or Limited Liability Company (LLC) can provide everything from tax advantages to better financing options with small business lenders. Consider the following benefits: Avoiding Double Taxes Incorporating can help you avoid the trap of double taxation – […]

Asset-based loans have traditionally been considered last-ditch financing options for business owners. Yet in today’s changing financial climate, there may be some circumstances when asset-based loans can provide great benefits. What is an Asset-Based Loan? An asset-based loan is business financing that is secured with the company’s assets. These can be collateral in the form of tangibles like machinery and equipment or inventory, but it can also include accounts receivable or securities. […]