What Are the Best Government Small Business Loans?

Business financing comes in many forms, but for some small business owners, government small business loans offer the most benefits. These loans are backed by the Small Business Administration (SBA) and issued by approved lenders, like banks and credit unions.  There are several SBA loan programs available to qualified business owners, each with their own set of rates, limits, and requirements. However, the three most common programs are SBA 7(a) loans, the 504 loans,  and SBA Microloans.  SBA 7(a) Loan  Read More

How to Get a Business Credit Card

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5 Steps to Credit Card Approval Assuming you meet the basic criteria of being a business owner, these five things can help you down the path towards approval: 1. Check your personal credit score By checking your personal credit score, you can get a better idea of what cards to apply for or what outcome  — approved or denied — you’ll likely encounter. For instance, most prime business credit cards will only approve applicants with good to excellent credit.  That’s Read More

What’s the Best Type of Small Business Funding For Your Business?

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Opportunities for growth arise, equipment breaks, inventory goes on sale, business slows, and operational expenses grow. Sometimes, all of those things happen at once. Regardless of what circumstance matches your experience, chances are you’ll need working capital to make things happen. While the ideal solution may be to tap into reserve funds to manage costs, that’s not always possible. In fact, four out of ten business owners sought out some type of business funding in 2018. If you’re thinking about Read More

Can Commercial Real Estate Loan Rates Help Your Business Save?

The decision to purchase a commercial real estate property, as opposed to leasing one, can come with numerous advantages. The right investment can be particularly financially beneficial, especially since buying property typically allows you to build equity and take advantage of additional tax benefits. And, since some commercial real estate loan rates are as low as 3.9%, purchasing property can lead to long-term savings. Choosing the right commercial real estate loan If you’re thinking about purchasing or renovating an income-earning Read More

Is Invoice Factoring Right For Your Small Business?

Eigthy-two percent of small and medium-sized businesses fail because of cash flow problems. And while there are many factors that can impact cash flow, invoices or accounts receivable account for a fair share. Invoice, or more specifically, unpaid invoices, can be a big problem for small business owners.   Fortunately, many small business owners can manage gaps in cash flow. From small business loans and lines of credit to purchase order financing and cash advances, there are many ways you Read More

How Do Commercial Loans Work?

Small business loans, specifically commercial loans, were designed to provide assistance to businesses who need a working capital boost, whether it be to address everyday costs or to begin the next stage in their business journey. If you’re looking for info on commercial real estate loans, feel free to skip down to the section on real estate-specific loans. How do commercial loans work? There are many types of business financing options under the commercial lending umbrella, though most will have Read More

Wells Fargo Business Elite Credit Card Review

Wells Fargo is often considered one of the leading brands when it comes to managing small business finance needs. It’s no wonder then that the bank offers several lending options in addition to banking and investing opportunities.   Included in the list of Wells Fargo business credit cards is the Business Elite card, which offers premium benefits for business owners who meet the annual revenue requirements. What makes this card different from the Wells Fargo Secured or Wells Fargo Platinum Read More

How to Grow In Your Role as a Business Owner

Becoming “the boss” can be challenging. After all, there’s more to running a business than producing or providing a good or service. Business owners must adapt and grow alongside their business, and in doing so, hone the skills necessary for success — leadership, communication, industry expertise, etc. The demands of simply running a new business don’t always make growth an easy feat. Improving your business skills is an ongoing process, though in some cases, growth will be inevitable. New challenges Read More

Wells Fargo Business Platinum Credit Card Review

A business credit card can make it easier to manage finances, cover gaps in cash flow, and even earn some rewards and perks along the way. When your business credit card links directly to your business checking or savings account, it can be more beneficial. For Wells Fargo customers, that may mean applying for the Wells Fargo Business Platinum Credit Card, one of three business credit cards currently offered by the financial institution. There are some definite perks that make Read More

Unhappy at Work, But is it the Right Time to Start Your Business?

Have you had it with your boss? Want to pursue your passion instead of building someone else’s dreams? You’re not alone. According to a recent Small Biz Trends survey, those two notions motivate nearly fifty percent of aspiring entrepreneurs. But are those reasons enough to take the leap of faith and leave your current job to start your own business? The first few years of running a business can be volatile. And though two-thirds of businesses will survive their first Read More