Tag: Financing
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Don’t Drive Off the Cliff

I consider myself a safe driver. After all, I spend a lot of time behind the wheel of an RV that weighs a couple tons. Interestingly enough, the most dangerous I’ve been behind the wheel was in a Dodge Durango on a Thursday night. My wife…

Is There a Small Business Vaccine?

Many folks have their hopes resting in a vaccine in order for life to return to normal. Unfortunately, the situation is a bit more complicated than that. Even with a vaccine, small businesses have been closing left and right. Many small business owners don’t know how…

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How to Get Small Business Financing Right Now

The Federal Reserve Banks publish an annual small business credit survey report. The 2020 SBCS Report on Employer Firms is based on survey responses of small business owners from the second half of 2019. These responses show the current challenges of business financing and credit that…

Fearless Factoring: Small Business Credit

In much of the financial world, personal or business credit is huge. It can determine whether you are approved or denied, how much funding you are offered, and what interest rates you can receive. Invoice factoring companies, however, do not care about an applicant’s credit score.…

What to Do if You Cannot Repay a PPP Loan?

The Paycheck Protection Program is aimed at keeping small businesses and nonprofits afloat during harsh economic times caused by COVID-19. The main selling point of this program is that the loan is up to 100% forgivable. The downsides, however, is that many business owners will have…

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Immediate Business Financing

I won’t list off all the reasons you may be in need of immediate business financing. There are plenty. There are also plenty of risks to avoid when searching for immediate financing. Typically, your cost of financing will increase for faster approvals. You see this with…

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How to Find a Long-Term Business Financing Strategy

When you run your own business, it’s crucial to keep the future in mind. You will need tools like cash flow forecasts and financial statements in order to monitor the financial health of your business. There are third party services you can use like an accounting…

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What Happens if You Breach Your Banking Covenants?

You may remember the covenants you signed up for along with your bank loan or line of credit. They are the guidelines or what you do or don’t do in order to maintain good status on your loan, and they are created based on the financials…

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Planning to Restart Your Business After COVID-19

Whether you have closed your business temporarily during the COVID-19 shutdown or whether you have still been operating at a reduced capacity, you have to plan to restart your business after COVID-19. Financing and managing your receivables will be key components of your plan to resume…

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Avoiding Unnecessary Business Costs

Growing businesses can find themselves strapped for cash. This is because expansion means rising costs in overhead, supplies, and payroll. 82% of business failures are caused by cash flow, so it’s important to trim down the unnecessary costs of business. Even running a lean operation, chances…