Blog posts tagged with "Business Finances"

The Pros and Cons of Having a Debit Card for Your Business

July 19, 2018
Operating on a cash-only basis can be risky when setting up your own business. If you have a business checking account, a debit card offers a convenient and simpler way to pay for everyday purchases while reducing the amount of cash you need to keep on hand. However, debit cards have their limitations, and you may find that a different solution is more appropriate. When deciding whether a debit card is the best option for your business, first consider some of the pros and cons.

The Pros and Cons of Buying an Existing Business

July 18, 2018
Starting a small business can be a rewarding opportunity. You can pursue your entrepreneurial dreams, and build a successful company from the ground up. Still, this isn’t for everyone. Rather than starting your own business, you could instead purchase an existing one. Buying an already established business will allow you to avoid the often painful startup period, while still allowing you to run a business.

How to Determine if a Short-Term Business Loan is Right for You

July 17, 2018
When you’re trying to decide on the right loan for your business, the term of the loan may be the most important factor to consider. That’s because, in any kind of finance, timing is key.

Review: PayPal Business Debit Card

July 16, 2018
There are numerous ways that you can pay for your business’s expenses. For example, since the Great Recession of 2007-2008, an increasing number of businesses have shifted from using credit cards to using debit cards. In fact, despite GDP growth rates hovering around 2 percent in recent years, debit card usage has been increasing by roughly 7.1 percent annually.

What You Should Consider Before Pursuing Debt Refinancing

July 13, 2018
Debt is necessary to get businesses off the ground, but it can also become a bottomless pit if you don’t choose the right financing. Business loans have varying terms and conditions, just like personal loans, and you might not get the best offer if your business is still in the startup stage. Due to this, if you’ve taken out a loan that wasn’t the right fit for your business, it’s important to note that you could pursue debt refinancing to remedy your financial issues.

Pros and Cons of SBA 7(a) Loans

July 12, 2018
The Small Business Administration (SBA) provides SBA 7(a) loans to enterprises struggling to secure traditional financing. SBA loans have emerged as one of the most popular funding sources for small businesses, and can enable entrepreneurs to receive up to $5 million.

The Benefits of Using a Balance Sheet

July 12, 2018
One of the biggest mistakes new business owners make is not taking time to create or understand their company’s financial statements. For instance, a balance sheet is one of the most valuable financial statements, as you can use to monitor your business’s financial health. Balance sheets are used internally to guide management decisions and externally to report your business’s financial status to lenders, investors, and other stakeholders.

The Pros and Cons of an Unsecured Line of Credit

July 10, 2018
One of the biggest challenges you may face as a business owner is maintaining an adequate cushion against fluctuations in cash flow. Changes in revenue are normal for many businesses, and in months when you have less cash available, you may need an alternative source of funds to meet your financial obligations. For example, an unsecured line of credit is a flexible solution that allows you to access capital when needed and pay it back as you can, assuming you meet the lender’s terms.

SBA 7(a) Loans vs. SBA Microloans

July 06, 2018
Since 1953, the Small Business Administration (SBA) has helped countless small business owners receive necessary financing. The SBA’s primary mission is to assist business owners and strengthen the U.S.’s economy, which is why they offer various loan options. If you’re a business owner that requires financing, but hasn’t been approved for traditional options, you should consider applying for an SBA loan.

How to Get Approved for a Credit Card as Quickly as Possible

July 06, 2018
Perhaps you’re looking for a way to build your business’s credit history, or you need more disposable income to purchase inventory. Whatever the reason, it can be extremely beneficial to have a business credit card. Unfortunately, some entrepreneurs get overwhelmed when applying for a credit card, or worry about getting declined. Luckily, applying for a business credit card doesn’t have to be a stressful process. In this post, we’ll review four tips that’ll help you get approved for a credit card as quickly and easily as possible.