Category: Business Credit

What is Revolving Utilization

Revolving utilization is an important factor that can impact your credit scores. It’s often the main reason your credit scores change from month to month. But utilization can be confusing, so let’s break it down here and help you use it to your advantage.  If you’ve seen the FICO score formula, debt is one of the top factors that affects credit scores (second after payment history) and utilization is a major part of that calculation.  What is a Good Revolving… Read More

Business Credit Card vs. Charge Card vs. Debit Card: What’s The Difference?

Entrepreneurs often have strong preferences about the tools they use in their business. But when it comes to the way they pay for purchases, there may be as much confusion as opinions about which type of plastic is best. This guide will help you understand the differences between credit cards, charge cards and debit cards so you can make an informed decision about which is best for your business. First, here are the most basic descriptions of each of these… Read More

How Do Commercial Loans Work?

Small business loans, specifically commercial loans, are designed to help businesses borrow money for any number of reasons, from working capital to purchasing equipment or real estate.  Understanding how these loans work can help you make a smarter decision when your business needs a loan.  What is a Commercial Loan? The term "commercial loan" may sound intimidating if you're not familiar with it. If you're wondering, "What is commercial lending?" it simply refers to loans made to a business for… Read More

What Are the Best Business Savings Accounts in 2023?

Rising interest rates may hurt borrowers, but they benefit savers. If your business has extra funds sitting in your bank account, you may want to put that money to work for your business with an interest-bearing savings account. And even if your business isn’t flush, establishing a business savings account can be helpful for your business financial health. Here’s how to find the best business savings account for your business.  Should I Get a Business Savings Account? Probably. Setting aside… Read More

Chase Platinum Business Checking 2023 Review

Chase is one of the largest business banking players in the industry, and – while everyone is aware of their credit and loan products – not everyone knows about their three offerings for business checking accounts.  What can you expect? All of the qualified Chase business checking accounts offer the ability to manage your account from anywhere in the world, but the bank also gives you 5,000 physical branches for that face-to-face contact you might need from time to time.… Read More

Accounts Receivable Financing

What is Accounts Receivable Financing? Accounts receivable financing is a type of financing arrangement wherein a business receives financing funds based on part of its accounts receivable (AR) as either a loan or asset sale. It’s used to help businesses get cash instantly without having to wait as you might with other financing options like usual small business loans.  Whether you’re trying to expand your business or simply make ends meet, cash flow constraints are one of the biggest challenges… Read More