Category: Business Financing

Businesses of all sizes should know of a significant change in the way government grants and contracts will be handled. The General Services Administration (GSA) announced that they are changing vendors for their federal contractor numbering system – better known as the DUNS (Data Universal Numbering System.) The system update won’t change right away, but here’s what you should know moving forward. What is the DUNS? The Data Universal Numbering System is a long-held practice for assigning businesses or organizations… Read More

We hear a lot about data breaches and just about everyone has a story of having a credit card number stolen. At this point, many of us assume that we’ll be victims of identity fraud one way or another, whether someone steals a card number or a fraudster opens a completely new account. But what about business identity fraud? Most of us don’t even realize that we have a separate business credit report. I certainly didn’t think about it. The… Read More

Filing personal bankruptcy can help you manage your debt situation, either through a restructured repayment plan or by wiping out most, if not all, of your debt entirely. But it can also harm your credit history, making it difficult to get approved for business financing. That doesn’t mean it’s impossible, though. Here’s what you need to know about getting a small business after bankruptcy. Bankruptcies linger on your credit report A bankruptcy can remain on your credit report for up… Read More

Customer demand can be fickle. What’s hot one day can be totally counter-culture the next. How, then can a small business ensure that their product or service will be marketable in the future? What steps can they take to ensure that they stay relevant and in-demand? While there’s no guarantee that your offerings will always be in vogue, there are some strategies to think through now, so that you’re able to navigate rocky markets later. Short of learning to read… Read More

Many businesses, both large and small, rely on financing to launch or grow their small businesses, as well as to carry them through times when cash flow is tight. Especially in today’s quickly changing business climate many small business owners are asking, “Is it hard to get a business loan?” Several factors go into a business loan approval. In general, business loan applications that get approved show strong business revenues, good credit and at least a couple of years in… Read More

If you have a significant amount of debt, or are looking to borrow again sometime soon, you may be asking yourself this valuable question: when will prime rate finally go down again? Since it can have a big impact on your budget, it’s smart to know the factors that go into deciding the prime rate. It’s historically a somewhat nuanced number that isn’t always easily understood, but it is something on which most everyone has an opinion. Before you bemoan… Read More