A Cash Flow Statement Example For Your Business

A cash flow statement is an essential financial statement for a business. As its name suggests, it provides a summary of the amount of cash and cash equivalents that come and go in the course of running your business.  Download this cash flow statement example to get started on yours. Cash Flow Statement “A business could be profitable but at the same time have cash flow problems” says Jo-Ann Yuen, Vice President of Finance at Nav. “Depending on how severe Read More

Life Insurance For SBA Loans: The Definitive Guide

Finding out you need a life insurance policy to fund your SBA loan can be shocking, and trying to navigate the different insurance options can be confusing. But it doesn’t have to be.  Getting life insurance for a Small Business Administration loan can be super fast and very easy, depending on the type of life insurance product you choose.Here’s the breakdown of why you need life insurance for your SBA loan, how the entire process works, and how to get Read More

Income Statement and Balance Sheet Examples

Income statements and balance sheets are reliable ways to measure the financial health of your business. Click below to download a free sample template of each of these important financial statements.  Your income statement and balance sheet are two of the most important documents you will create as a business owner. Not only can they can show you how your business is doing financially, they can even help you project how it may perform in the future.  Wondering what information Read More

Where Can I Find an Income Statement Example?

Like the balance sheet or profit and loss statement, the income statement is one of the reports that companies of all sizes should have an idea how to utilize. Here’s a breakdown of an income statement to know what they look like and which information should be included. Free Income Statement Example What is an income statement? This type of statement, or report, shows how well a company or organization performed during a specific period of time. It is based Read More

Everything to Know About Your Business’ Balance Sheet

As a small business owner, you likely wear many hats. You’re at once a product developer, marketer, and a customer service representative. But, one of the most overlooked tasks you may have is accounting.  Managing your company’s books is a time-consuming and complex process, but it’s necessary for your business’ success. If you plan on applying for a business loan, it’s important to pay attention to key financial topics and learn how to create and read balance sheets so you Read More

How to Open a Free Business Checking Account With No Deposit

As a business owner, limiting expenses and maximizing your profits are a top priority. But one area where it can be tough to save money is with your business checking account. There are very few options available that don’t charge a fee, and many “no-fee” business checking accounts require that you keep a minimum balance to qualify.  Opening a business checking account is crucial for keeping your business and personal finances separate. But if you’re looking for a no-fee account Read More

Protecting Your Personal Assets As a Business Owner

Over a million lawsuits are filed in state courts every year. And, according to one source, all of us have a 10% chance of getting sued in any given year and a 33% chance of getting sued during our lifetimes! This is scary information given that being on the losing end of a lawsuit can be financially devastating.  As a business owner, you have special cause for concern. That’s because if your business is sued and ordered to pay a Read More

What Happens if My Business Insurance Expires?

There are times that small business owners accidentally allow their business insurance to expire. They’re bad people with no redeeming qualities. Just kidding – it’s not totally uncommon for a business to forget to make a payment or to miss their insurance renewal date. And while it does happen, that doesn’t mean it’s no big deal – there are consequences and risks to not having insurance coverage for your business. Operating without Workers’ Compensation Insurance If you allow your workers’ Read More

What Is Cross Collateralization?

At some point in the life of your business, you may need to borrow money. Whether you want to take advantage of a lucrative investment opportunity, expand, or start marketing a new product, it pays to prepare your business credit and educate yourself in advance when it comes to commercial lending. Often, the better prepared you are, the better your odds of getting a loan. Business owners who know and understand their business credit scores, for example, are 41% more Read More

Can I Open An Ally Business Checking Account?

Ally is a hugely popular online bank that offers checking and savings accounts as well as auto loans and mortgages. Regularly appearing on lists of the best online banks, Ally is known for its high-yield savings accounts where you can earn an APR that is 20 times the national average.  If you’re a fan of the bank and are a business owner or freelancer, you’re likely looking to open an Ally business checking account. However, the online bank doesn’t have Read More