Category: Business Financing

4 Ways Your Credit Card Could Be Hurting Your Business Credit Scores

4 Ways Your Credit Card Could Be Hurting Your Business Credit Scores

It’s important for business owners to establish good credit for their business. Having a strong business credit score will not just help you to receive for a loan with the best terms possible, it can also allow you to receive lower insurance premiums, open a merchant account and receive more flexible payment terms from your suppliers. As you strive to build and maintain your company’s credit score, the last thing you need to have are your credit cards dragging it down.… Read More
What’s Your Paper Grade? A Guide to Merchant Cash Advance Underwriting

What’s Your Paper Grade? A Guide to Merchant Cash Advance Underwriting

The Merchant Cash Advance (MCA) product has been around since the early 2000s through a company called AdvanceMe (now known as CAN Capital after going through a variety of name changes). An MCA is essentially the purchase of future credit card receivables using cost factor. A typical transaction would work to where a purchaser (the MCA company) would note that the business has been doing $45,000 a month in merchant processing over the previous 12 months, then offer to buy $58,500 of… Read More
8 Credit Card Lifehacks You’re Not Using Often Enough

8 Credit Card Lifehacks You’re Not Using Often Enough

Hacking used to be an obscure term that was used mostly by computer geeks to describe unauthorized access to a computer system. But somewhere along the way, the word evolved to include all sorts of tricks that were discovered to make our lives easier. One of the best ways to employ these so-called lifehacks is with our credit cards, as their intricate rules, terms and conditions are especially ripe for creative workarounds. Here are eight credit card lifehacks that you may… Read More
7 Ways to Lease Equipment for Your Business

7 Ways to Lease Equipment for Your Business

Leasing is a practice that dates back to at least the 1800's, and some historians say leasing goes back much farther than that. The current and most popular form of leasing began in the United States around the early 1950's. The equipment leasing industry is close to $1 billion in production, with about 30% - 40% of total annual equipment investment activity coming in the form of equipment leasing. What Is Equipment Leasing? An equipment lease is a contract between a… Read More
What Can You Do If a Client Doesn’t Pay You?

What Can You Do If a Client Doesn’t Pay You?

Making a sale may seem like the hardest part of your job when you’re a business owner. After all, a lot of work can go into convincing someone to buy your product or service. But that’s really just the beginning. You then have to deliver what you’ve sold— and get paid for it. Sometimes that last part can be the hardest. There are clients who will string you along for payment, or just disappear when it comes time to write… Read More
How To Build Business Credit With Bad Personal Credit

How To Build Business Credit With Bad Personal Credit

There can be a lot of hurdles to opening a small business: lack of time, capital, or even experience. There’s one potential obstacle you shouldn’t let stand in your way: bad credit.  That’s because business owners can build business credit even if their personal credit scores aren’t perfect. Here we’ll explain why and how to build business credit even with bad personal credit.  The Goal of a Good Credit Score  A strong credit history can open all kinds of doors… Read More