Category: Business Credit

Gerrymandering Could Be Hurting Your Chances of Getting a Business Loan

Gerrymandering Could Be Hurting Your Chances of Getting a Business Loan

In this day and age, it can be difficult to make sense or even care about political news. If you're occupied in the many facets of running your own business, it could be the least of your concerns. Recently, however, a new study has emerged regarding gerrymandering, a hot topic in Washington, and the unexpected economic consequence it could have for small business owners. What Is Gerrymandering? Gerrymandering has been practiced since the early 19th century, when Massachusetts governor Elbridge… Read More
The New Questions You’ll Have to Answer When Applying For a Business Credit Card

The New Questions You’ll Have to Answer When Applying For a Business Credit Card

A new federal rule aimed at thwarting money laundering will go into effect in May and could impact how your business applies for and secures financial products like loans and credit cards. The "beneficial owner" rule, officially called the Customer Due Diligence Requirements for Financial Institutions rule, is aimed at helping banks better understand precisely who is behind the business entities they are banking by collecting more information about the people associated with these entities. By doing so, the government… Read More
70% of Business Owners Without a Business Bank Account Get Rejected for Loans

70% of Business Owners Without a Business Bank Account Get Rejected for Loans

Business owners without a business bank account are facing an uphill climb when it comes to getting approved for financing, according to a new survey. Nav surveyed more than 600 business owners to find out how they use their business bank account and what impact it has on their financial situation. Of business owners without a business bank account, 70% were rejected for a loan in the past two years. Many lenders use business bank account data in the underwriting… Read More
Is it Time to Upgrade Your Business Credit Card?

Is it Time to Upgrade Your Business Credit Card?

When a valuable tool becomes worn out or obsolete, it’s in your company’s best interest to upgrade it. And even more than most types of business equipment, you have a lot to gain by upgrading your small business credit card. The credit card industry is intensely competitive, and card issuers are constantly introducing new products with more generous rewards, more valuable benefits and even promotional financing offers.   Here are some signs that you need to upgrade your business credit… Read More
Do Credit Repair Letters Actually Work?

Do Credit Repair Letters Actually Work?

If your credit scores are bad, or not as strong as you'd like them to be, you may be researching ways to try to boost them. An internet search will likely turn up lots of advice about how to write credit repair letters to help you improve your credit. But do they really work? Credit repair letters are designed to take advantage of a provision under federal law, the Fair Credit Reporting Act (FCRA), that allows consumers to dispute items… Read More
4 Low-Fee Business Credit Cards That Are Great for Small Businesses

4 Low-Fee Business Credit Cards That Are Great for Small Businesses

You don’t need to spend a lot of money to get a great small business credit card. In fact, there are plenty of cards for small businesses that offer generous rewards and valuable benefits, with no annual fee. Also, these cards come with all the same expense tracking and reporting features found on the issuer’s premium cards that cost hundreds of dollars a year. The Case for No-Fee Business Credit Cards The small business credit cards that have pricey annual… Read More