Tag: business credit card

Signing up for a business credit card can be very fiscally beneficial to your growing company. Before submitting that application, however, you  should become familiar with five of the most frequently asked questions about business credit cards. 1. Can a startup business qualify for a business credit card? Yes, startup companies are eligible for credit cards as soon as they are officially established. In order to qualify, credit card lenders will use the owner’s personal credit score and income. 2. […]

Writing paper checks is just a routine part of every small business, right? It doesn’t have to be and in today’s high-tech world, it may actually be one of the worst ways to make business payments. There are plenty of obvious and hidden costs associated with check-writing. Many business owners do not even think to examine these costs as they are not aware of any other way to make and track payments. However, researchers have found that each written check can cost a company between $3 and $5, […]

Building up a good business credit score is more important to obtaining business funding than most entrepreneurs realize. In fact, one of the most frequent reasons that small business loans are denied is because of low personal and business credit scores. After establishing a credit profile with business credit agency Dunn & Bradstreet, small business owners should apply for a business credit card and start using it responsibly to start building a good credit report. These cards can provide […]

Many new businesses go under not because people don’t like their product or service, but because they have problems managing their cash flow. The large amount of working capital they started the month with disappears and no one seems to know where or why. If your company is struggling with keeping positive cash flow, here is the prescription to cure your financial woes. Track Every Cent With so many transactions occurring every month, a tracking system is essential to figuring out what is happening […]

Every business is unique. No two companies will have the exact same financial needs. Before starting a scramble for business funding, it helps to think hard about the specific essentials for your company. Once you have a list in place you can then determine the best source of business financing for your operating requirements. The following inventory of needs may aid you in the process: Office Space Does your business need an actual facility in order to function? Starting out in your home or […]

Perhaps your small business has only used credit cards as an emergency form of funding. Or maybe you worry that the interest rates are too high. Yet managed correctly, business credit cards can be a great asset to your firm, even simplifying your bookkeeping and making your financial records work much more efficiently for you. Simplified Statements If you start making all of your business purchases with your company card, keeping track of your finances will be a piece of cake. Your monthly credit […]

If you’re still using a personal credit card for your firm, here are some reasons signing up for a business credit account might make a big difference.

Many new entrepreneurs start out their ventures with poor credit, often because they have not yet had time to develop a business credit history. And without a good credit profile, it can be really tough in today’s economy to get a traditional bank loan for a new business. Fortunately there are several options for fledging companies that can provide some initial funding. For some firms, a business credit card may supply necessary financing, at least until a better score can be established. A business […]