Category: Business Financing

This Week’s Happenings: 2017 Consumer Spending Trends and the Death of Fax Machines

This Week’s Happenings: 2017 Consumer Spending Trends and the Death of Fax Machines

A Surprising Obstacle in Small Biz Lending: Fax Machines Fax machines died for many industries a while back, but for the Internal Revenue Service they are still alive and kicking. And it’s making the process of getting a loan more difficult for small business owners. via GIPHY While many banks have invested in speeding up the underwriting process, the process of getting a tax transcript from the IRS remains a burden, and that burden leads well qualified borrowers to turn… Read More
Online Small Business Lender Dealstruck Shuts Down New Operations — What it Means for You

Online Small Business Lender Dealstruck Shuts Down New Operations — What it Means for You

Dealstruck, a provider of online term loans and lines of credit, has reportedly shut down operations. As of Nov. 15, 2016, they are no longer accepting new loan applications. However, existing customers will continue to have their loans serviced. Dealstruck’s homepage offered no indication of the shutdown. Ethan Senturia, CEO of Dealstruck, told Crowdfund Insider: “Although we are not currently originating new loans, we are continuing to provide our clients with the high-level of service they have come to expect… Read More
How Many Business Credit Cards Is Too Many?

How Many Business Credit Cards Is Too Many?

A business credit card can be an incredibly powerful financial instrument, and some business owners wonder how they can best leverage these tools. One way to get the most value from your business credit cards is to open several different accounts for a larger line of credit or to receive the rewards and benefits offered by different cards. But can you have too much of a good thing? And how will having multiple business credit cards affect your credit history and credit score when… Read More
When to Use a Business Line of Credit vs. a Business Credit Card

When to Use a Business Line of Credit vs. a Business Credit Card

As a business owner, one of your most valuable tools is access to credit. And like any job, you’ll be much better off when you select the right tool for your needs. Two of the most popular ways that a business can access credit is through a small business line of credit and a small business credit card. Take a look at how each type of credit works. Business Line of Credit You can apply for a small business line… Read More
Happening this Week: Loan Prices and the Problem with Learning

Happening this Week: Loan Prices and the Problem with Learning

Online Small-Business Lenders Display Loan Prices The Innovative Lending Platform Association, whose members are small business lenders, have agreed on a “disclosure box” that will allow those considering a small business loan from these lenders to see the annual percentage rates, total dollars being repaid, and other metrics. The products offered, however, will not be affected by the disclosure box. There is no mention of where these rates and costs will be displayed. There is a common belief that regulation… Read More
3 Business Credit Cards That Let Business Owners Double Dip on Rewards

3 Business Credit Cards That Let Business Owners Double Dip on Rewards

Owning a small business is all about maximizing revenue while minimizing expenses. Having a good small business card helps you organize your company’s finances, but it can also help you to reduce your expenses by earning valuable rewards from your spending. In addition, some credit cards offer you multiple ways to perform some credit card reward stacking which some people refer to as double dipping. Here are three business cards that allow you to double-dip on rewards: Ink Business Preferred®… Read More