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Business Loan vs. Business Credit Card?
A guide to assessing the best answer to the debate between business loan vs. business credit card
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6 Business Alternatives for Bank Loans and When They Make Sense
Need financing for your business but can’t qualify at a bank? There are various financing alternatives to keep your operations running. Borrowing money is an essential part of building a small business. But when you need a loan, traditional lenders like the bank might not be an option. They tend to have strict small business…
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How the SBA May Help You Recover From Natural Disasters
Hurricanes, wildfires, earthquakes, volcanoes, mudslides — all can be devastating to the health of your small business. In 2017, 40 percent of small businesses located within a FEMA-designated disaster zone reported natural disaster-related losses, according to the Federal Reserve. Forty-five percent of affected businesses reported asset losses of up to $25,000, while 61 percent reported revenue…
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The Five C’s of Credit and How They Impact Business Financing Decisions
If you’ve heard of the five C’s of credit, you may assume that this phrase is only associated with personal credit; however, it’s also a tool used by lenders to evaluate businesses pursuing credit options. Here’s why the five C’s of credit are important to your business; how lenders evaluate each of them; and how…
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That “Cheap” Business Finance Rate Could Cost You a Bundle: Interest and Your Business
The last decade has been an era of cheap money for businesses, with interest rates at historical lows. But those days may be ending. How you look at financing — in particular choosing between fixed and adjustable rates — may have to change. These are the good old days. Access to capital can often make…
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Borrowing and Business: What You Don’t Know Can Hurt Your Finances
So, you’re feeling confident enough about your business to go shopping for a loan. Congratulations! But before you start looking you should understand these five important areas impacting loans, beginning with the difference between interest rates and APR. What is APR? APR is the annualized percentage rate, which measures the cost of borrowing money. It…
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5 Tips for Running a Lean Operation
The best things in life are simple. The same concept applies to running your business! Running a lean operation correctly is the most efficient way to foster growth without adding a ton of stress to you, your employees and your pocket book. The less moving parts needed to keep your business running efficiently, the better.…
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The Pros and Cons of 9 Restaurant Location Types
Do you decide on a restaurant location before or after the entire concept? Restaurants involve both arts and science. Many of the decisions involving their creation and operations are driven by emotion or an artistic sense of what will appeal to the public and drive the success of the venture. Most people have an idea…
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How Do Small Business Administration (SBA) Loans Work?
Next up in the “How It Works” series let’s take a look at how SBA loans work Every business is unique. What works for one may not work for another. With a range of choices, each with its own unique requirements and mechanisms, how do you identify which type of financing is best for your…