6 Ways to Finance Your Franchise

If you’ve decided to join the millions of business owners who own a franchise, you’re going to need money: sometimes a lot of it. Franchise start-up costs can run from thousands to more than a million dollars for some of the most popular restaurant franchises. While many of the top franchises require a franchisee to have substantial assets and/or net worth, there are plenty that can be purchased for $50,000 or less, and it may be possible to finance all Read More

Bank Loan vs Online Loan: What’s Right For My Business?

Start shopping for a small business loan and you may soon find yourself overwhelmed. Thousands of banks and credit unions offer business financing, as do hundreds of online lenders. Where do you start? One decision you’ll need to make is whether to apply at a bank versus an online lender. There are some very clear distinctions between the two, and those differences may help you hone in on which option is more feasible for your business. Bank Loan vs. Online Read More

How to Get Your Small Business Out of Debt in 2019

Rising interest rates and high levels of corporate debt have lots of investors concerned. Should small businesses be worried? The majority of small businesses (in most industries) are able to pay their bills on time. According to Experian/Moody’s Analytics Main Street Report, overall delinquencies for businesses with fewer than 100 employees were slightly down in the third quarter of 2018. Credit utilization rates were also down slightly. At the same time, that same research has found that rates for delinquencies Read More

Kabbage vs. Fundbox: Which Line of Credit is Best For Your Business?

If you’re looking for fast funding for your small business, Kabbage and Fundbox are two online lenders you may want to consider. Both offer the ability to apply for financing online in a relatively simple and straightforward process. In most cases, you’ll know in minutes whether you’ve been approved, and if you are, the funding will often be available to use within hours.   Here we compare Fundbox and Kabbage. A line of credit provides your business with funds you Read More

Couple Goals: This Pair Has Been Under Budget for a Decade

For Kimberly and Brad Earnest, getting out of debt—and staying out of debt—has meant freedom. Freedom to travel in the US and internationally, to pursue work they enjoy (and to cut back), to help others, and to know that even if their jobs were to disappear, they’d be fine. For Brad, though, things looked very different in 2004, when he found himself newly divorced with two young children to raise on his own. He realized he hadn’t done a very Read More

What Address Should I Use for My Business?

When you’re starting your business, you have many decisions to make. Some will be straightforward, and others will seem straightforward— but turn out to be more complicated. Take your business address, for example. If you have secured an office or retail location, your business address is straightforward. It’s where your business is located. But what if you decide to work from home?  What if you are subleasing space or your current location is temporary? One business owner recently told us Read More

A Small Business Success Secret You Can Easily Steal

What’s the one thing that unites a company that grows crickets for food, one that solves an embarrassing health problem, and one that sells beverages that are helping to save the planet one bottle at a time? They’ve been helped by a small business mentor. While their stories are inspiring and instructive, the best part is that you can steal their secret to success, and it won’t cost you a dime. Cowboy Cricket Farms When Kathleen Rolin told her husband Read More

Help! My Business Credit Cards Are Close to the Limits

He was trying to remain upbeat, but it was clear the entrepreneur I was talking with was worried. He had multiple business credit cards with high balances as a result of trying to get his business off the ground. He knew when he took on the debt that he’d have to hustle to pay it back, and he was working as hard as he could to make his business a success. But for several months now, he was only able Read More

Leverage Credit to Grow Your Business (VIDEO)

How does credit impact your small business, and how can you use it to your advantage? In this brief video (just ten minutes), I’ll help you understand how to leverage credit to grow your business.   Transcript: Leverage Your Credit To Grow Your Business (This transcript has been lightly edited for readability.) Welcome to the Nav webinar “Leverage Your Credit To Grow Your Business.” I’m Gerri Detweiler, Education Director for Nav, and there’s my contact information – you’re more than Read More

Help! I’ve Got a D-U-N-S Number, Now What?

Like many entrepreneurs, the retail store owner I spoke with recently is trying to move away from using personal credit to finance her business, and to help her do that, she’s started the process of building business credit. “I’ve got a ‘Duns number’,” she told me, “but I’m confused. What do I do next?” Getting a free D-U-N-S number is one of the first steps in the credit-building process. It’s the identifying number for a business in the Dun & Read More