We’ve all faced the decision of whether to finance something or purchase it outright—maybe when buying a car or another big-ticket item. When it comes to your business, however, the stakes get significantly higher when you are considering whether financing or purchasing equipment is right for you. The answer to the finance or purchase question [...]
Cash flow is always a concern for any business, especially a small business. In a perfect world, revenue is always sufficient to cover payroll, materials and other operating costs, as well as support future growth. But we all know the world isn’t perfect. There are many situations that might find a business owner seeking a [...]
Businesses that rely on sales for revenue — such as restaurants, bars, retail stores and salons — may have a hard time qualifying for traditional bank loans. That certainly doesn’t mean they’re out of luck when it comes to securing funds, and one alternative financing option to consider is a merchant cash advance. Merchant [...]
Your credit score—made up of five pieces of data: payment history (35%), amounts owed (30%), length of credit history (15%), new credit (10%) and credit mix (10%)—can either help you soar, or be an albatross that stymies your growth. You may be aware of what constitutes an excellent credit score (800 and up), but did [...]
Unless you’ve been steering clear of all pandemic-related news stories — which can actually be a cleansing experience — as a business owner you’re certainly well aware of the Paycheck Protection Program (PPP). Thousands of businesses have taken advantage of PPP round 1 and/or round 2 to receive loans that are nothing short of lifelines [...]
With the COVID-19 pandemic still causing havoc to many businesses across the country, the second round of the Paycheck Protection Program (PPP) is underway. As you may recall, funds quickly ran out during the first round, so it’s important to apply as soon as you can. This second round is aimed at businesses that may [...]
Keeping a business afloat in these dire times is hard. There are already many factors to sustaining a profitable company, but having bad credit is a problem that hits hard. You might think it’s near impossible to find a financing option when you’re head in under the bad credit strain. It’s hard to get approved [...]
Business owners need access to capital to keep their businesses going. Small business loans are an accessible way for new and old business owners to access this capital. Small business loans are used to start new companies or provide business owners with the money to buy new inventory, strengthen their financial foundation, or grow their [...]
A good credit score can come with many perks that any person could benefit from. Things like lower interest rates and better deals for whatever purpose you choose: a mortgage, procuring a credit card, getting car loans, or even for a business loan. But credit scores are not usually on the top of our priority [...]
There are many reasons why a company might suddenly need a loan. It can be because the business is struggling. Or maybe an opportunity was presented, and it’s just too good to pass up. Or you might think it’s time to expand the business, but you don’t have access to the funds yet. Regardless of [...]
There comes a time when business owners will need some external financial assistance. It can be for various reasons such as advancing the business or help in keeping it afloat. Financial assistance can be acquired through multiple means, with loans being the most well-known method. But getting loan approval can be a lengthy process, and [...]
Getting a loan for a business is a tough deal for most people. For whatever reason you may need it, be it for extra financing or for business stability, the one thing you have to do is convince lenders to give you the money. But how do you do that with bad credit? Even worse, [...]
