Small Business Loans
The success of your small business largely depends on your management of working capital. But working capital doesn’t just mean cash. By definition, the term working capital refers to all assets currently available for covering business expenses or operational costs. In other words, it’s not how much cash you have that matters. It’s the value […]
When it comes to the responsibilities of business owners, very few can match the importance of staying on top of the right numbers. This includes profitability, performance data, and of course, working capital. Small business owners must constantly keep tabs on how much working capital they have on hand. Without this information, countless critical tasks […]
Even the most intelligent business owners have trouble understanding small business tax rates. They might not know how many different types of taxes they have to pay, how each rate is calculated, or which factors have the biggest impact on their final tax bill. The answer to each question isn’t entirely clear because it depends […]
If buying an existing business seems like the perfect idea to you, you are not alone. Hundreds of thousands of businesses are reportedly sold to new owners every year. You can expect that number to go up as more people discover how buying a business compares to starting a brand new one. Buying a business […]
A highly regurgitated piece of advice for small business owners is to monitor their finances. Veteran business owners are constantly urging their peers to always make sure their revenue and expenses are in good shape. Well, following this advice would be extremely difficult were it not for your profit and loss statement. Also known as […]
It doesn’t matter how much revenue you’re raking in or how many products you sell. If you do not have a good profit margin, your cash flow will suffer. A good profit margin is a mandatory requirement for a successful business. It shows that in addition to sales, the other financial elements of your business […]
Credit score is the number one factor for obtaining a small business loan. It’s the first thing most financial institutions look at when determining approval. Other factors, like annual revenue and time in business, are also very important but won’t play as big of a role as personal credit score. Without excellent credit, it is […]
What is Working Capital? The term “working capital” refers to all assets that are currently available for covering monthly business expenses, or operational costs. Payroll, rent, supplies, vendor bills, debt payments are typically covered by working capital. In addition to keeping your business up and running, working capital is used to fund business growth. How […]
When banks were the only source of business funding, small business owners had just a few products to choose from. There was the traditional business term loan, a business line of credit, and that was about it. Today, however, there are many more options, such as the short-term business loan. Like any other business financing […]
The process of obtaining a small business loan is often categorized as “daunting” or “intimidating.” This is largely because there are so many things someone can do wrong before applying for funding. One mistake can result in rejection, a hazardous partnership, or default. But if you can avoid these mistakes, you should have no trouble […]
