Tag: credit
finding money for your business quickly

How to Find Money Quickly For Your Business

A traditional bank loan, a second mortgage, and a Small Business Administration loan are all great financing options for your new or existing business. The catch is the high standards for approval, personal liability, and the time it takes from application to first funding. What can…

when to send your customer to collections

Business Essentials: Collections

Do I Send My Client to Collections? The collections process for small businesses is a major resource drainer. It takes time, effort, and consistency to get paid on-time. When clients are waiting longer than a few days to pay open invoices, it will hurt your company’s…

working capital management

What is Working Capital?

Working capital is the lifeblood of small businesses. You may be making sales and growing revenue, but how does that translate into profit? This is where your working capital and ability to grow without cash flow problems can translate to profit. Having more liabilities than assets…

overcoming small business challenges #TheMoneyFactor

Overcoming Current and Future Small Business Challenges

I’ve been in the industry for almost 30 years like my guest, Kris. I can honestly say we’ve been through a lot of recessions before, but I don’t think either of us have ever experienced an overnight shutdown of the economy quite like this one. I…

graduate to bank financing

How Factoring Can Help You Graduate to Bank Financing

When you need working capital to support your small business growth, you may apply for a bank loan or line of credit. Bank financing is desirable for a number of reasons, but often, bank financing can be just out of reach for small business owners. This…

importance of working capital management

Understanding Credit Risk

Now more than ever, it is so important that you increase your working capital in order to protect your business. A recession and global pandemic means that every business is shaken up. It is definitely possible that some of your customers will be unable to pay…

accounts receivable financing companies

Should You Offer Credit Terms to Your Customers?

In an ideal world, you would collect payment for your goods or services immediately from your customer. Granting credit to your customer means you must wait before you have cash in your hand that you can use to make more sales. It also means that you…

how to negotiate b2b credit terms

How to Negotiate Credit Terms with Your Customers

If you have customers looking for you to grant credit terms, they’re going to typically want 30 days or more to pay. That can be a big drain on your cash flow if you have to wait for them to pay, but more importantly, you have…

invoice factoring broker role

Building Your Business Credit

Having strong business credit can open more doors for your business when it comes to selling on credit terms with other businesses, but also business credit will affect your access to working capital. Financial institutions like banks or online lenders will evaluate your business credit when…