Everything seems harder when you have bad credit. Vital resources are more expensive, and you probably won’t be able to obtain the means to grow your business anytime soon. That is, if you don’t look into all of your options. In the past, yes, it was nearly impossible to get a small business loan with […]
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When a business owner dismisses the idea of small business loans altogether, it’s usually because of a myth about business financing. These myths don’t just pertain to small business loans. One says that any business with strong revenue or profits should therefore have no trouble maintaining strong cash flow. This suggests that when it comes […]
In the business world, last weekend marked the official start of the summer season. For many small businesses, the summer is the busiest time of the year. But for others, warm weather brings the complete opposite effect. Uncontrollable factors like vacationing customers and the shrinking appeal of spending time indoors create a massive slump in […]
You’ve done your research and concluded that, just as you expected but were afraid to admit, your restaurant could really use a small business loan. Other restaurants similar to yours are clearly evolving. Some have expanded their menus, added physical space, or launched delivery services for customers don’t feel like venturing into the crowded streets. […]
Prior to the emergence of alternative business financing, small business loans were nearly an impossibility for applicants with bad credit. A less than perfect score was a surefire recipe for rejection, even with strong sales. But these days are long gone, largely because it eventually became clear that bad credit was not an indication of […]
Do you have bad credit? That should be a wake-up call. In many ways, bad credit is a life lesson: things don’t always go your way. And credit problems are certainly a fact of life for many small businesses. Bad credit will not help you get small business loans. But analyzing why you have financial problems will help you in the future.
Chronic cash flow problems affect many types of small businesses. But nobody understands the difficulties better than medical professionals. Most of the work you perform for patients is billed out to a third party. Insurance providers. Medicare. It can take weeks – often months – before you see reimbursements. Meanwhile, you still have to pay your monthly expenses. Medical practice business loans can smooth chronic cash shortages.
In a recent article I talked about bad credit small business loans for women. In the past, women entrepreneurs have often been short-changed when it came to business loans. Especially if your business had bad credit. But thankfully, times have changed. So in that article, I tried to put the negatives to rest. And focus on the positive — bad credit doesn’t mean no credit. Even if you’re a woman.
You may think your business can’t get a loan because you have bad credit. You may think the fact that you’re a woman makes things even worse. You’re not entirely wrong, on either count. But you’re not entirely correct, either. Woman entrepreneurs can get small business loans, even if you have credit problems.
Now that 2017 is already weeks old, and Father Time has gone back to bed for his long winter nap, most small business owners have already begun working on their books for the New Year ahead. Being profitable and cutting costs are probably on the list of resolutions for small business owners, along with offering better services to customers. But what needs to be on the top of every small business owner’s to-do list is fixing any bad credit issues that may be present.