(800) 949-0401 For business owners that have to wait 30 or more days for a payment from a client, it can be very frustrating to deal with. These long or late payment cycles can cause a strain in your cash flow, causing business owners to fall behind on important expenses such as inventory or payroll, or force them to pass up opportunities to take on new customers or expand somewhere else.
To run a successful small business, you need to understand and be able to properly manage your business’s finances. You do not need to be a fiancé expert to be financially literate or grow a successful business. Instead, you need a little direction and some skills to get you on the right financial foot.
Starting a business from the ground up is not easy, it requires a certain level of financial understanding and funding. Fortunately, you do not need tons of cash to get started or be successful. There are seven key money basics every entrepreneur should know for their business.
Business credit cards and corporate credit cards play an important role when it comes to making business purchases. Which one is ideal for your business? Today we are going to talk about what you need to know about business credit cards and corporate credit cards.
Business credit card funding is the easiest and fastest ways to obtain cash credit for a startup or existing business. For example, you can get up to $150,000 in unsecured credit for a business without documentation and no personal credit reporting, while building your business credit reports.
Can credit card debt prevent you from moving forward with business credit card funding? If your credit utilization is over 50%, you might be required prior to moving forward with funding. If you do not have the cash for paydowns or do not want to use your cash, what do you do? The good news is that there is an alternative option for you.
If you have been offered an Economic Injury Disaster Loan (EIDL), you might be wondering if you should accept it or not. Business owners receive offers along with paperwork that has them questioning whether they should accept the loan or not.
If you are thinking about applying for a business loan, you might wonder how long are the business loans typically for? When your business needs funding, it is crucial to evaluate all the small business loan terms since they all vary according to your business’s capacity and needs. There are several types of loans out there but a popular one most businesses consider are long-term business loans.
When it comes to business lending, SBA loans are still very popular among business owners. SBA is appealing for small business owners because they tend to have longer payment terms and lower interest rates than many other types of business financing and loans. However, getting an SBA can be overwhelming for most but it is important to not let it be.
One of the biggest reasons that most small business do not get approved for business financing is because of their credit score. But disorganized financials are also another factor to blame. Lenders want to make sure that your business is viable and will be able to repay the debt. Organized and up to date finances are essential if you want to increase your chances of getting approved.
