Category: Business Financing

3 Ways to Boost Your Business Despite Poor Credit

3 Ways to Boost Your Business Despite Poor Credit

You’re starting a new business, you need financing, and you need it now. Unfortunately, your less-than-stellar credit scores are putting you in a higher risk category than traditional lenders and credit card companies are comfortable working with. The bad news is that your credit scores are going to remain a thorn in your side for as long as they remain low. The good news is that there are tried and true methods of raising them, and that you do have… Read More
What to Do if You Have Too Much Business Debt

What to Do if You Have Too Much Business Debt

Many businesses use credit and debt to expand, buy equipment, and hire additional employees so they can take on bigger projects and grow.  But what should you do if you’ve taken new credit from vendors who offered it, developed business debts, used personal credit cards, responded to ads for quick money, and find yourself drowning in debt because your business hit bumps and roadblocks along the way? Here’s how to specifically determine if you are carrying too much business debt… Read More
2 Financing Tips to Boost Your Real Estate Business in 2017

2 Financing Tips to Boost Your Real Estate Business in 2017

2016 is coming to a fast close, and it’s time to start thinking about the direction your business is going to take in 2017. For many, that means thinking about how you’re going to cover all your expenses—whether it’s for unexpected investment opportunities, emergencies, and more. Here are two tips for real estate businesses to get ahead of the game in 2017. Secure an affordable cash cushion with business credit cards Business credit cards offer a relatively low cost and… Read More
5 Business Credit Card Trends to Watch for in 2017

5 Business Credit Card Trends to Watch for in 2017

While there are many uncertainties for 2017, the credit card industry has typically been characterized by both stability and profitability. From the height of the last expansion to the depths of the Great Recession, banks have relied on their lines of business and personal credit cards for consistent profits. As the market for business credit cards continues to grow and evolve, and 2016 comes to a close, here are five trends that I’m anticipating for the new year. 1. Increased Sign-Up Bonuses… Read More
What to Do If You Can’t Pay Your Credit Cards

What to Do If You Can’t Pay Your Credit Cards

http://navsmb.wistia.com/medias/v1u22g9kxh?embedType=async&videoFoam=true&videoWidth=750   Bruce (not his real name) had been operating his pool service business in Arizona for almost seven years when an injury forced him to cut back the number of clients he served. As his income slid, he turned to credit cards to fill the gap. Soon he had maxed out several. Then he missed a payment on one of his business credit cards and the issuer raised his interest rate to almost 27%. By the time he reached… Read More
Why You Can’t Afford to Skip This Oft-Forgotten Money Tip

Why You Can’t Afford to Skip This Oft-Forgotten Money Tip

This post originally appeared on Inc. on Nov. 21, 2016 You can't afford to wait any longer to fatten up that credit file. You may not see the need for more financing today, but tomorrow will be here soon enough, and with it a host of setbacks and opportunities you never could have predicted. Here are two easy tips for getting started: 1. Learn your business credit scores and how to interpret them. According to the U.S. Small Business Administration,… Read More