The primary difference between is that a loan is an installment account, while a line of credit is a revolving account. With a loan, you receive the money immediately and repay it over a predetermined period. A line of credit works like a credit card, allowing you to repeatable borrow and repay against your credit limit.  Small business owners often turn to loans and lines of credit to finance different types of business operations. Both options can give you access Read More

Starting a business is exciting but there’s one big question you have to answer right off the bat: How will you fund it? The good news is, there are plenty of business financing avenues to choose from for entrepreneurs who need cash to get operations up and running. Read through this in-depth guide to learn how to finance a new business, then explore your business financing options.  Common Methods for Financing a New Business There are multiple ways to finance Read More

As a small business owner, you can enjoy a flexible schedule, unlimited earning potential, and a number of other perks. One drawback of owning a small business, however, is SUTA taxes. If you were previously a traditional 9 to 5 employee, SUTA tax probably didn’t apply to you.  You were responsible for Social Security and Medicare taxes but not SUTA. Now that you’re an employer, rather than an employee, it’s important to understand what SUTA is and how it may Read More

For many small business owners, business loans are critical to financing company growth and development. The savviest entrepreneurs keep their eye on the market and monitor for opportunities to score better loan interest rates or find payment terms that better match company needs. The process of refinancing a business loan is similar to the process of initially obtaining one – There is a lot of waiting and plenty of paperwork required. However, the work involved is often more than worth Read More

Accounts receivable financing is one avenue you might consider in lieu of business loans or credit cards when you need working capital. Also known as AR financing, it can be a quick and convenient way to get cash for your business to help meet short-term financial needs. Just like any other funding option, account receivable financing has both pros and cons. Here’s what you need to know. What Is Accounts Receivable Financing? Account receivable financing is a funding option that Read More

If you don’t have all the funds to start your new business venture yourself, you may look into alternative ways of funding, including a US Small Business Administration loan, or an SBA loan. An SBA is a type of federal loan that new businesses can use to start and grow their companies. But if times have been hard or you haven’t gotten the sales you originally expected, you might not be able to make payments on your SBA loan. Eventually, Read More

As a business owner, you may have heard the term ACH before. You might accept ACH transfers as a payment method from customers. For those of you who aren’t familiar with this banking term, ACH stands for automated clearing house. It’s a method of moving money from one bank account to another without using paper checks.  If your company needs to borrow money but it can’t qualify for a traditional business loan, you may decide to consider alternative financing options. Read More

Looking to buy supplies or products, but don’t have the money to do so? Inventory financing is just one of the many business financing options to consider. You may assume that because your company is fairly new or you don’t have stellar credit that you don’t qualify for any type of loan. You do, in fact. There are two types of loans: secured and unsecured. If you have great credit, you can get an unsecured loan, meaning you don’t have Read More