SUTA Tax Guide: What is SUTA and Who Pays it?

As a small business owner, you can enjoy a flexible schedule, unlimited earning potential, and a number of other perks. One drawback of owning a small business, however, is SUTA taxes. If you were previously a traditional 9 to 5 employee, SUTA tax probably didn’t apply to you.  You were responsible for Social Security and Medicare taxes but not SUTA. Now that you’re an employer, rather than an employee, it’s important to understand what SUTA is and how it may Read More

Refinance Business Loans: Complete Guide to Business Loan Refinancing

For many small business owners, business loans are critical to financing company growth and development. The savviest entrepreneurs keep their eye on the market and monitor for opportunities to score better loan interest rates or find payment terms that better match company needs. The process of refinancing a business loan is similar to the process of initially obtaining one – There is a lot of waiting and plenty of paperwork required. However, the work involved is often more than worth Read More

AR Finance: Accounts Receivables Financing Guide for Small Businesses

Accounts receivable financing is one avenue you might consider in lieu of business loans or credit cards when you need working capital. Also known as AR financing, it can be a quick and convenient way to get cash for your business to help meet short-term financial needs. Just like any other funding option, account receivable financing has both pros and cons. Here’s what you need to know. What Is Accounts Receivable Financing? Account receivable financing is a funding option that Read More

SBA Loan Default: SBA Loan Forgiveness

If you don’t have all the funds to start your new business venture yourself, you may look into alternative ways of funding, including a US Small Business Administration loan, or an SBA loan. An SBA is a type of federal loan that new businesses can use to start and grow their companies. But if times have been hard or you haven’t gotten the sales you originally expected, you might not be able to make payments on your SBA loan. Eventually, Read More

ACH Loans: What is an ACH Loan?

As a business owner, you may have heard the term ACH before. You might accept ACH transfers as a payment method from customers. For those of you who aren’t familiar with this banking term, ACH stands for automated clearing house. It’s a method of moving money from one bank account to another without using paper checks.  If your company needs to borrow money but it can’t qualify for a traditional business loan, you may decide to consider alternative financing options. Read More

Business Licensing Requirements by State

State Business License A state business license is a document that offers proof that a business is legally allowed to operate in that state. Some states require business licenses at the state level, but oftentimes business licensing is done at the city or local level. Do I Need a Business License? Do I need a business license? We get this question all the time, and the answer depends on the type of business you run. Every state (as well as Read More

How to Secure Financing With Your Inventory as Collateral

Looking to buy supplies or products, but don’t have the money to do so? Inventory financing is just one of the many business financing options to consider. You may assume that because your company is fairly new or you don’t have stellar credit that you don’t qualify for any type of loan. You do, in fact. There are two types of loans: secured and unsecured. If you have great credit, you can get an unsecured loan, meaning you don’t have Read More

Construction Line of Credit: Grow Your Construction Business with a Line of Credit

By 2023, the U.S. construction industry is projected to reach a record of $1,804.8 billion. Therefore, it’s no surprise that many entrepreneurs are on a mission to grow their construction businesses.  If you’re one of these entrepreneurs, you’re likely dealing with high insurance rates, a long list of licensing and permit requirements, and expensive material and equipment costs. This can lead to cash flow issues, which make it difficult to cover invoices on time, pay employees, and purchase the tools Read More

Secured vs Unsecured Credit Card: Difference Between Secured and Unsecured Credit Card for Small Business

Establishing credit is essential to building a financially sound business. A solid credit score can create business financing options for your company and support business growth. Opening a credit card account is one of the most basic ways to begin developing credit for your business. However, doing so might be difficult for young businesses and those led by owners whose personal financial history is less than ideal. In these situations, a secured credit card can help craft a foundation on Read More

American Express Releases New Limited Time Offers for Delta Business Cards

As far as airline rewards credit cards go, the American Express Delta lineup is about as good as it gets. For Delta loyalists the Amex Delta Gold, Platinum, and Reserve cards have historically offered perks like priority boarding, access to Delta lounges, and free checked bags, along with a solid welcome offer. Now, American Express is offering new limited time welcome offers for each card through 4/1/2020, allowing cardholders to maximize their mile earnings.  Limited Time Offers The will now give Read More