A cooperative business, or co-op, is a unique business model where individuals or businesses unite voluntarily to meet their common economic, social, or cultural needs. Unlike traditional business models, where profit maximization for owners or shareholders is the primary purpose, a cooperative prioritizes member benefits and operates under a democratic structure.
Each member-owner typically has one vote, ensuring equal voting
Every October, National Women’s Small Business Month celebrates the achievements of women in business and highlights their contributions to the economy. Women-owned small businesses are an essential part of our country. They create jobs and drive innovation.
The history of National Women’s Small Business Month began in 1988. The U.S. Congress passed a resolution recognizing women’s role in small businesses.
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.
National Small Business Week is an annual celebration that recognizes the crucial contributions of small businesses to the nation’s economy. It typically takes place during the first week of May and highlights the importance of small businesses nationwide. The event includes various virtual events such as webinars, virtual summits, and workshops to support and empower small business owners.
National Small
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
The Visa Mastercard $30 billion settlement is a legal agreement between Visa, Mastercard, and merchants that addresses antitrust concerns related to card transaction fees and pricing. The lawsuit resulting in the Visa Mastercard $30 Billion Settlement began in 2005, sparking a long legal battle.
Mom-and-pop shops are smaller businesses typically run by family members. They offer personalized service and unique products and stand out for their close-knit atmosphere and community connection.
Supporting mom-and-pop shops is crucial to helping them thrive in the competitive market, fostering local economies, and preserving authenticity. By choosing these businesses, customers contribute to the growth of their neighborhoods.
Bank lending to businesses is declining for various reasons, including fear of a looming recession. This downturn in borrowing options from traditional lenders and the larger economic implications is a concern for small business owners. However, you still have plenty of funding options through alternative lenders and lending marketplaces.
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.
Fraud Disclosure:
Please be aware that individuals have been fraudulently misrepresenting to business owners (and others) that United Capital Source, Inc. (“UCS”) can assist small businesses in receiving government grants and other forgivable business loans, when in fact those grants or loans do not exist or are not available. These individuals have ulterior motives and are engaging in the unauthorized use of the names, trademarks, domain names, and logos of UCS in an attempt to commit fraud upon unsuspecting small business owners.
UCS will never communicate with a prospective client on Facebook, Facebook Messenger, or any other type of social media. Further, any email communications will always come from an official UCS email address and not a Gmail, Yahoo, or other email domain. If you believe you have been contacted by someone posing as an employee of UCS, please email [email protected].
