Category: Business Financing

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

Every small business owner knows the frustration of waiting for opportunities. Waiting for customers, waiting for payments, and most critically, waiting to access the funding needed to grow. Your business credit score often determines whether those funding doors open quickly or stay firmly shut. Establishing business credit can mean the difference between securing quick cash for emergency equipment repairs or watching operations grind to a halt. It can determine if you'll get favorable payment terms from suppliers or be stuck… Read More

As a business owner, you know that to make good decisions you need to know the facts. As human beings, though, our biases and assumptions can sometimes get in the way of facts. Recently, for example, I spoke with a successful business mentor who said she advises her clients to always avoid debt. While her intentions may be good, those clients may be missing out on significant opportunities to grow their businesses. Here are five common small business financing myths… Read More