Category: Business Financing

This post was reviewed and updated on June 15, 2020. Strong personal and business credit scores can help small business owners qualify for better financing which, in turn, can help them grow their business. But not every entrepreneur can afford to wait until their credit is in perfect shape before they launch. Some have damaged credit due to financial setbacks, while others may have avoided debt and have very little credit history. That’s where Self, formerly known as Self Lender,… Read More

Everyone starts somewhere. The process of building a business credit profile isn't incredibly different from building personal credit; making payments on time and avoiding carrying high balances are always good practices, but the tools will be different. Many business owners will start out with credit cards specifically designed for startups or those with little to no business credit history, but after time, you'll likely be looking to graduate to bigger products that can help your business grow and allow you… Read More

Thanks to a little something called the American Revolution and being included on a short list with death and other unsavory inevitabilities, taxes likely won't make the "hobbies" section of your Facebook page. Unless you filed for an extension, you're still relatively freshly removed from the tax deadline, and may still be reeling from the stress and nitpicky monotony. 'Twas the season, and 'twill be the season sooner than you think. As with any major task or plan in life,… Read More

Savvy entrepreneurs often form limited liability companies (LLCs) for asset protection benefits, and to legally separate their business finances from their personal finances. But that’s just the start.  There’s another step you’ll want to take after establishing your LLC: Build credit for your LLC. Establishing an LLC and building strong business credit can help your business qualify for a wider range of small business loan options.  In this article, we’ll explore how to build business credit for an LLC, tips… Read More

In April, I did the unthinkable: I swapped my usual work uniform—T-shirt, sneakers, comfortable pants—for formal business attire. The occasion: A hearing conducted by the California Senate Banking and Institutions Committee. The subject: A bill with the very Star Wars-y name of SB-1235. I was there to testify on its behalf. SB-1235, to put it plainly, would require small business lenders to be more transparent about the cost of their products. No more waiting till the last minute to reveal… Read More

As your business grows, so do your needs and plans as a business owner. You've likely used financing or credit cards to help your business grow, but now your needs have changed. You certainly have the option to apply for new financing or a different credit card, but should you ask for a credit limit increase? Business owners, on average, already have more credit cards than non-business owners. A recent Nav survey found that the average small business owner has… Read More