More banks tightened lending terms for small businesses in the first quarter of 2024, continuing a trend from 2023. Many traditional financial institutions fear the current economic outlook and have become more risk-averse. As a result, they are approving fewer commercial and industrial loans (C&I loans), charging more for the loans they do approve, and issuing smaller loan amounts.
The SBA is issuing disaster loans for small businesses in the Mid-Atlantic region affected by the bridge collapse. SBA Administrator Isabel Casillas Guzman announced the program on April 3, 2024.
The announcement came after Maryland Governor Wes Moore wrote a letter requesting a disaster declaration on March 29, 2024. The declaration applies to small businesses, small agricultural cooperatives, small
PayPal is scaling down on business loans and merchant cash advances. This news will likely cause concern about the overall impact on small business financing. While the news isn’t good for PayPal merchants, it shouldn’t affect other borrowing options, at least not here at United Capital Source. It’s business as usual for our network of private lenders, meaning you still
The Employee Retention Tax Credit was designed as an incentive to keep employees on staff during government-mandated shutdowns.
The refundable tax credit expired in October 2021, but businesses can still file for 2020 and 2021. However, you must know the deadlines to ensure you file on time.
Some businesses wait weeks between providing goods and services and getting paid, known as selling on credit. When a business sells on credit, it issues an invoice to the company that owes the money and adds it as a journal entry in accounts receivable.
While the business is waiting for that money to come in, bills and expenses keep coming.
Investing in a tractor-trailer (aka semi-truck, big rig, 18-wheeler, etc.) is a major expense, but one that could yield high revenue. Whether you’re an independent owner-operator or own a freight business, most truckers don’t have the available liquid capital to purchase a new or used truck directly.
Most small business owners turn to financing options to fund a commercial truck
