SBA Loan vs. Conventional Loan: Which Is a Better Fit for You?

When it comes to financing business growth, entrepreneurs have a growing number of options to consider, and determining which lender is right for you can be a bit of a headache. Two lending options that consistently make the top of the “best business loans” list are bank loans and SBA loans. They are generally the lowest cost options available, and offer the most flexible repayment terms, but are also the hardest to qualify for. SBA Loans vs. Bank Loans: What’s the Read More

AmEx Working Capital Terms for Small Businesses

American Express business credit cardholders may be eligible for Working Capital Terms, a short-term financing product aimed to help business owners cover the cost of invoices due to vendors and smooth out cash flow. Working Capital Terms is one of three American Express business loan products offered to small businesses—others include Merchant Financing, offered to American Express card-accepting merchants, and Business Loans, offered to OPEN cardholders. According to a Bloomberg report, AmEx launched the Working Capital Terms product in response Read More

How to Know if a Business Insurance Agent Is Actually Good

Before he entered the commercial insurance world, Ben Page of Page Insurance got beat up as a business owner. “I didn’t have employment practice liability insurance, and it turned into a $50,000 problem.” Being underinsured is a common problem for those getting business insurance. Unlike auto insurance, where the same policies apply to most drivers, commercial insurance is extremely customizable to the type of business you run. It’s very easy to be underinsured and missing important coverages, or overinsured and Read More

5 Ways You Might Be Wrecking Your Business Credit Without Realizing It

When it comes to your business credit scores, one or two mistakes can make a lasting impact. Happily, learning how your business credit report works will help you lessen the impact of those mistakes and avoid repeating them in the future. Even business owners with strong personal credit should take time to master this information, because business credit works a little differently. Here are five mistakes you should avoid when it comes to keep your business credit in tact. 1. Read More

When Can I Charge My Customers for Accepting Their Credit Card Payment?

Advancements in mobile and card technology have led to widespread consumer acceptance of card payments. In fact, recent surveys show that only 11% of buyers prefer cash, while the rest prefer to use a debit card or a credit card. While card payments give your business an important layer of protection to safeguard your transaction activity and streamline your business operations, they also lead to additional costs in the form of card assessment and interchange fees — also known as Read More

American Express Announces Additional Financing Product for Business Owners

American Express has been around since 1850, and it’s pretty well known by now that they offer killer personal and business credit cards. But did you know that they also offer other business financing options? American Express recently announced that they will now be offering loans for businesses needing “access to working capital and short-term financing.” American Express has designated these loans to qualified businesses in need of capital for consolidating debt to smooth out cash flow or make necessary Read More

The Survival Guide to Your First Year in Business

Starting a business can feel like trying to carry an egg through an obstacle course. You’re jumping hurdles, climbing vertical walls, and crawling through muck and mud. As the intensity of the challenge rises with each new encounter, you have to shelter a small, fragile object. Most small business owners have felt this way at one time or another, particularly during the early stages of running a business. Here are a few tips to ease your journey and keep that Read More

How to Find VCs and Angel Investors

When you’ve mapped out the coming months for your business and expect to need a good amount of capital to grow, you may need to find outside funds. If you have a wealthy family member who believes in your venture, you’re in a good position. Otherwise, you can seek funds in the form of debt or equity financing. Debt financing is when you take on someone else’s money in exchange for interest paid throughout the duration of the loan. Equity Read More

Getting Her Credit in Shape Helped This Woman Boost Her Business

In an industry dominated by male business owners, Leticia Giron has been in business for 21 years. She’s the owner of Belleza & Beauty, a wholesaler of beauty equipment that sells to spa owners, doctors, and distributors. She self-financed the business using savings and credit cards until new competition threatened her business. “I was buying all my equipment from a vendor who decided to increase his prices. He started showing up at the trade shows I would attend. I could Read More

Step-By-Step Guide to Reviewing Your Experian Business Credit Report

Strong business credit is one of the major building blocks of successfully growing a business. A clean report with killer scores makes it easier to qualify for good rates on financing, and keeping track of what’s in your report can help you avoid becoming a victim of fraud. But reading a business credit report isn’t easy if you’re not familiar with the industry mumbo jumbo of credit reporting agencies. Here’s your guide to demystifying the information in your report, so Read More