As a business owner, it is your responsibility to know what financing options are available to you. Virtually all businesses need to borrow capital at some point. It is usually unavoidable, but it can be much more manageable if you know the different types of financing and what situations are best for each. One of the most common financing options is a revolving line of credit.
07 Apr 2015
Securing a loan for your business is a big milestone for any entrepreneur. It means you can get the equipment your need, hire trained staff, advertise, and begin making sales. However, it also means you have to keep up on payments, figure interest rates, and balance your regular finances in business and your private life so that you’re not caught short when it comes time for you to pay an installment on your loan. Luckily, some financial institutions have made some online loan calculator tools so that you can figure out how much you need to pay each month, including interest and fees.
02 Mar 2015
As rewarding as it can be to own and operate a business, there may be times when you hit a financial bump in the road that leaves you wondering what to do next. So often, these types of mishaps occur simply due to a lack of proper financial management. Fortunately, there are several surefire ways to avoid the common mistakes that plenty of small and medium size companies make while trying to grow. By circumventing these common errors, you will begin to handle your business cash flow in a manner that will keep you on the fast track to success.
Whether you’ve decided to start your own business or are in a cash-strapped position with your current venture, you’ve decided to apply for a small business loan. You know that the requirements for small business loans can be taxing, and you want to make sure you are prepared. As with any application process, whether it’s for a job or a grant et al., the more prepared you are, the better. After all, if you were a lender who had their pick of many options, you would definitely feel more confident handing money over to someone who had demonstrated knowledge and competence. Application requirements are also much stricter than they were before the financial crisis. What are the most important things to prepare for the application process?
15 Jan 2015
Many entrepreneurs are looking to open businesses that already has an immediate demand, rather than opening a startup and worrying about reaching niche clientele. For these business owners, opening a franchise business is as easy as recognizing a demand for a certain type of business, and then approaching a franchisor about starting up your own location. The big advantage to opening a franchise is that you will have the experience of the parent corporation behind you to draw on for guidance in order to build your business. Right now, franchises are hot entities for entrepreneurs. Here are the top successful types of franchises in demand today:
Operating a restaurant is a tough job. Doing it well takes a considerable amount of time, money, effort, and skill. When it comes to the money part, a merchant cash advance can help you keep your restaurant going strong.
A merchant cash advance provider is an alternative lender that gives cash to restaurants in exchange for a portion of future sales. Rather than paying back the loan with fixed monthly payments, as you do with a traditional loan, you pay back the loan by giving the lender a percentage of your daily credit card receipts until the loan and interest are repaid. A predominant benefit of this type of financing is that you get the cash quickly. Even the application process is fast and easy. You can use that cash to enhance your restaurant in a number of ways.
23 Nov 2014
The one thing every business in today’s world should expect is the unexpected. This is especially the case with working capital and cash flow. It can be next to impossible to forecast changes in the coming weeks, months, or years that could have an unexpected financial impact on a business. This is why it’s important to prepare for such possibilities ahead of time by learning more about working capital loans.
01 Oct 2014
A solid business plan gets you off the ground, keeps you afloat and allows you to leave a legacy for others to follow. Staying on the path means learning from your mistakes or not making ones that could cripple you. There’s a world of advice out there that helps you with your strategy and identity, and hard and fast rules about your plan give you the knowledge you need to thrive. Knowing what business mistakes to avoid puts you on the right track to being smart, successful and profitable.
13 Sep 2014
If you are the owner of a small business, organizing your business finance is extremely important. Without a well-thought out system you will not be as effective at operating day-to-day and you may run into trouble when you must report your earnings at tax time. Here are five tips to keeping your books straight, even if you are not a natural organizer.
02 Aug 2014
Contrary to popular belief, there are not many grants and free money programs available for entrepreneurs that want to start their own business. Even though many banks and lenders are traditionally not very generous to entrepreneurs, there are plenty of SBA start up loans available for small business owners to use to get their business off the ground and on the right track. With the right approach, you can secure the funding you need and use it in a variety of ways to increase the longevity and profitability of your business.