Tag: debt
thumbnail for film friday sharks chasing your business

The Sharks Circling Your Business

In 2004, I took a camping trip with the family. We packed our supplies and headed to Lake Casitas. I had the brilliant idea of fishing with my 8-year-old son and catching a fish to cook for our dinner. I stood shoulder to shoulder with my…

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…

business deadlines

Business Credit and How to Get Funding

Invoice factoring and the amount available for funding relies on your company’s sales rather than the time you have been in business, personal credit score, or business credit score. Only 46% of businesses received the full amount of financing sought according to the 2017 Small Business…

survive recession

How to Get an SBA Economic Injury Disaster Loan

Due to the disruption of small, medium, and large sized businesses in the wake of the COVID-19 response, the Small Business Administration is offering Economic Injury Disaster Loans. These loans are working capital injections that aim to help business owners pay debts, meet payroll, accounts payable,…

Predatory Lending During a Global Crisis

If your inbox is anything like ours, you are probably receiving updates from any business partner you have ever worked with. These updates are saying things like “we are still open during this crisis” or “we hope you stay healthy” or “please reach out if there…

Three Tips to Protecting Your Business During COVID-19

What the heck happened over the last few weeks? One day everyone is talking about a theoretical impending recession, and the next, millions of people are losing their jobs. It’s hard not to have the REM song, “It’s the end of the world as you know…

miss mca repayment

What Happens if You Miss an MCA Repayment?

Missing a repayment on an MCA may seem like the end of the world. Many cash advance companies structure their repayments to be daily or weekly. This will drain a small business’ cash flow and make it harder to make the repayments over time. What does…

invoice factoring atlanta ga

What Is Small Business Invoice Factoring?

As a small business owner you wear many hats. You are involved in operations, hiring, sales, marketing, all of it. When late paying customers are stalling your vision of small business growth, it can be hard to see past the present. This is where small business…

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…

COJ ban

Proposed Ban on Confessions of Judgment

We have already talked at length about protecting your small business from predatory lending practices. We have even vlogged about confessions of judgment requirements in predatory lending agreements. Now, there is movement on the legislative front in New York for preventing COJ requirements from merchant cash…