Category: Business Credit

Business Loan vs. Line of Credit: Know Before You Go

Business Loan vs. Line of Credit: Know Before You Go

Now is a great time to jump on business financing opportunities. It’s easier to get approved, and as the economy improves, banks are more willing to lend. If you’ve been denied in the past because of a low business credit score, don’t give up. Shopping for different types of lenders may be the answer. Two of the most popular—and cheapest—financing options are business loans and lines of credit. Both will get cash in your pocket, but they work a lot differently.… Read More
Business Profitability: 13 Tips for More Revenue

Business Profitability: 13 Tips for More Revenue

A business that brings in a lot of revenue isn't always successful. Sometimes robust sales can hide the fact that a business isn’t doing well financially. Why? Because there’s a big difference between sales and profit— but entrepreneurs sometimes confuse the two. If you want your business to be successful, you need it to be profitable. “From a 30,000-foot accounting standpoint profit/loss is what you have left after deducting all expenses from revenues,” explains John Bartelme, a Chapel Hill Durham… Read More
The Best Business Checking Account Perks

The Best Business Checking Account Perks

If you own a business, you should absolutely consider getting a business checking account to separate your personal finances from your business finances. But your business checking account offers more than just that! Business checking accounts may come with a list of perks that make the account less expensive and easier to use. When you are busy running a business, saving time and money is a big deal. Here are some of the best business checking account perks to look… Read More
5 Ways Business Credit Cards Can Hurt Your Credit

5 Ways Business Credit Cards Can Hurt Your Credit

Credit cards can be an indispensable tool for small businesses. These products offer companies a secure and convenient method of payment while providing a valuable means of financing and being more readily available than other options like a small business loan. But with a small business credit card, its balance and payment information will be recorded on the credit histories of the primary account holder, just like a consumer credit card. This isn’t a problem when your small business cards… Read More
Small Business Owners Carry Twice As Many Credit Cards As Consumers

Small Business Owners Carry Twice As Many Credit Cards As Consumers

Business owners are leveraging their personal credit in a major way, according to new data from Nav. Nav analyzed anonymized personal credit card usage data from 143,004 of its small business customers and 128,281 of its consumer customers. Business credit cards were excluded from the data. While consumers carry an average of 2.32 credit cards, small business owners average at 4.78 cards. The average total limits on those cards among the two groups mirrors this as well, as average consumers… Read More
Everything You Need to Know About the New Chase Business Credit Card

Everything You Need to Know About the New Chase Business Credit Card

It's rare when a major bank adds a new credit card to its suite of offerings, but today, Chase has done just that. Chase has provided great credit card options for small business owners for years, and have now added a new card to the Ink line -- the Chase Ink Business Unlimited. While many of the features of the Ink Business Cash Credit Card will carry over to the Business Unlimited, a key change may make it even more appealing… Read More