This Service Provides Free Expert Advice for Your Small Business Debt

Trying to figure out how to handle your business debts? Expert advice for your small business debt is available. Here’s how to get the answers you need.  Michael Bovee has decades of experience helping small business owners in financial crises. He started helping them with their debts in 2001 after the “dotcom” crash. In 2008, he was flooded with requests for help from plumbers, framers, landscapers and “basically anyone working in the housing industry,” he says. An expert in debt Read More

This 0% Interest Small Business Loan Just Got Better

For some small business owners, a small loan may be what they need to help their business pivot in our rapidly changing economy. Kiva, an online small business lending platform offering 0% financing with no fees, is expanding its program in an effort to help more businesses affected by coronavirus.  Kiva announced that effective immediately, U.S. applicants for a Kiva loan will have access to the following: Expanded eligibility: More businesses in the US will be eligible for a Kiva Read More

Does it Make Sense to Fund My Business With Home Equity?

I not only grew up in a family business and watched my Dad dip into the equity in our home when he was short on cash, there was a time or two when I felt compelled to fund my business with home equity. It’s not something I recommend today. Let me tell you why. As a Small Business Owner, You Probably Understand I hope you find this disclosure of my past mistakes helpful as you face the current health and Read More

How Coronavirus Is Impacting the Restaurant & Hospitality Industries

Ponce’s Mexican Restaurant in San Diego was slammed last weekend, despite the massive fear of coronavirus spreading. But today, things look a little different. While restaurants in the city hadn’t yet been told they have to shut down (they have since), Ponce’s elected to shut down dine-in service and focus on takeout. Owner Ponce Mesa said it was a difficult decision, but he said, “it’s better to keep our employees safe” than to try to continue normal operations.  While the Read More

Can I Negotiate Vendor Terms Because of Coronavirus?

We’re in new territory right now, with COVID-19 shutting down more and more of the country (and world). Small businesses are already feeling the impact, and at Nav, we’re getting lots of calls from concerned entrepreneurs who want the best financing options they can find to help them stay afloat, given the situation. One of those opportunities could be to negotiate vendor terms because of coronavirus. Whether or not you decide to apply for a loan or line of credit, Read More

What Does the Fed’s Rate Cut Mean for Small Business?

On Sunday the Federal Reserve made an unprecedented cut to the federal funds rate for the second time this month by a full percentage point to a range of zero to .25%. In addition to the Fed’s rate cut, they are also renewing a bond buying strategy employed following the financial crisis of 2008, saying they will purchase $500 billion in Treasury bonds and $200 billion in mortgage-backed securities.  The rate cut and the purchase of Treasury bonds is in Read More

Should I Do Business as a Separate Business Entity?

A separate business entity is a business that’s legally and financially separate from its owners. A separate business entity has a separate bank account, with separate transactions and payroll for employees. Think of it as you and your business are two completely separate individuals. Before you choose what type of business entity, let’s talk about what is required and whether or not it’s the right choice. Should You Make Your Business a Separate Entity? The short answer is, yes. Even Read More

11 Ways Retailers Can Combat Coronavirus Fears

Rita Mitchell, Certified Counselor at the USM Small Business Development Center’s College of Business and Economic Development, compiled a great list of 11 ways retailers can combat coronavirus fears, the closures, and the financial decline those fears are causing. Here are her suggestions. Have VISIBLE and TOTAL hygiene discipline. Mitchell suggests placing anti-bacterial pumps throughout a store. Also, posting photos online and on your website of “deep cleaning” activities can show customers your commitment to keeping them healthy while shopping. Read More

Dell Small Business Payment Solutions

Are you a small business owner who would like to propel your organization toward growth? If so, Dell Small Business Payment Solutions by Dell Financial Services can help. It can provide you with the technology and business financing options you need to stay ahead of your competition and succeed with flying colors. So what exactly do Dell Small Business Payment Solutions entail? Keep reading to find out.  Dell Small Business Payment Solutions Dell Small Business Payment Solutions strives to add Read More

11 Options If Your Small Business Can’t Pay Its Bills Due to Coronavirus

Coronavirus is having a significant impact on many small businesses already and no one knows how long or how hard the economy will be affected. If you are having trouble paying your bills due to a slowdown in revenues or higher than usual expenses related to COVID-19, here are 9 options to consider if your business can’t pay its bills due to coronavirus. Keep in mind there isn’t a playbook for this situation. We simply don’t know how long this Read More