Blog posts tagged with "Business Finances"

Everything You Need to Know About Fringe Benefits

January 21, 2019
As a small business owner, talented and capable employees can be some of your most valuable assets. However, attracting and retaining great employees to a startup or small business is often difficult when competing with larger, more established rivals that have significantly more resources at their disposal. Fortunately, if your current budget doesn’t allow you to fully compensate your employees through wages, you can offer fringe benefits to make your total compensation package more attractive.

The Pros and Cons of Buying an Existing Business

January 18, 2019
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 good business.

Pros and Cons of Equipment Loans

January 15, 2019
As a business owner, you probably use at least one type of equipment, regardless of your business’s industry. This equipment is likely pivotal to how your business functions, or at the very least makes it easier to do so. Unfortunately, most equipment is expensive, and with the myriad of other expenses you need to afford, it might be too costly for you to purchase. Luckily, that’s where equipment loans come in!

Should You Use a Business Credit Card for Personal Expenses?

January 14, 2019
Understandably, most people try not to open too many credit cards, to protect their credit score. Due to this, it might be tempting to open a credit card for your business that you can also make personal purchases on. Plus, given the potential for earning valuable rewards on business credit card purchases, it may seem logical to use a business credit card for personal expenses. In reality, covering personal expenses with a business credit card can seriously impact your business’s financial well-being. Still, the severity of risk depends on your circumstances.

SBA Loans: 504 vs. 7(a)

January 11, 2019
SBA financing is a government loan program that offers great loan terms for small business owners. Although the SBA doesn’t directly loan money to businesses, they work with banks and CDCS (Certified Development Companies) to guarantee small business loans in case the business defaults. Then, banks loan money to the business as an SBA loan.

How to Dispute A Credit Report Mistake

January 11, 2019
A credit report is a crucial document used by financial institutions to determine how trustworthy potential borrowers are. A good report will help you receive appealing credit card and loan options, while a negative report means you might not be offered anything at all. That’s why it’s important to check your credit report periodically and ensure nothing out of the ordinary pops up. In addition, fraud can be prevented with careful monitoring, and you might even catch errors made by the credit bureaus.

8 Mistakes to Avoid When Applying for a Business Credit Card

January 08, 2019
When you own a small business, how you afford your expenses can make a bigger difference than you may think. Not only does a business credit card allow you to readily track and evaluate your business-related expenditures, many cards offer the opportunity to earn cash back on purchases — a perk that can help boost your net income over time. Plus, if you struggle with cash flow, having a credit card can give you a cushion to make purchases when you’re waiting on customer payments.

What is a Working Capital Cycle?

January 07, 2019
A working capital cycle (wcc) may sound like financial jargon, but it’s an important concept for business owners to understand. What entrepreneur wouldn’t want to know how fast their company can turn a profit?

Review: Citizens Bank Business Credit Cards 

January 04, 2019
Citizens Bank Business Credit Cards are a popular option for small business owners looking for financing. If you’re a small business owner, a Citizens Bank Credit Card may be the right choice. However, whenever considering a credit card, you should read the fine print and to evaluate your needs.

5 Benefits of Merchant Cash Advances

January 03, 2019
Small business owners in every industry need capital to survive, and although there are various working capital options available, not everyone is eligible for a loan. In fact, new small to medium sized businesses often struggle to find banks that are willing to lend them money. Unfortunately, new businesses typically don’t have the credentials to prove themselves trustworthy in the eyes of many traditional lenders, thus making it difficult to procure business funding.