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CASH FLOW CRUNCH?
April 9th at 5:44pm
Cash flow is always an important element in the smooth and successful operation of your business. Keeping track of your revenue and expenses, as well as all operating costs, is essential to project how much cash it needs daily to maintain and grow your business. Generating sales and managing operations are also important, but ensuring that that cash from those sales is collected and that your company’s daily cash flow needs are managed efficiently and effectively is even more important. And this is particularly true when the economy goes into a slump. Your business’s resources can be stretched to the max…
ALL ABOUT EQUIPMENT FINANCING
March 19th at 4:46pm
Equipment finance is common business funding that is offered to help improve cash flow and also improve working capital. It typically involves a funder giving a business finance that is secured by a piece of equipment. Here are just some of the small business needs you can cover with equipment financing: Forklifts, workbenches, and conveyor beltsPoint-of-sale payment processing software and hardwareCommercial ovens, grills, deep fryers, freezers, food processors, and moreOffice furniture and fixtures – everything from cubicles and desk sets to rugs and lightingSoftware, including operating systems, CRMs, and moreAppliances like telephones, refrigerators, coffee makers, and moreFood trucks, delivery vehicles, company cars, and trailersSolar…
INVENTORY BUSINESS FUNDING
February 27th at 7:47pm
If your business requires on-hand inventory, and looking to finance production or get business funding based on current inventory, the following information may be useful. Inventory financing is an asset-backed, revolving line of credit or short-term funding made to a company so it can purchase products for sale. Those products, or inventory, serve as collateral for the funding if the business does not sell its products and cannot repay the funding. Inventory financing is especially useful for businesses that must pay their suppliers in a shorter period than it takes them to sell their inventory to customers. Inventory financing is a popular…
DOES THE FEDERAL RESERVE INTEREST RATE AFFECT YOUR BUSINESS?
February 13th at 9:54pm
Before you understand how a change in federal reserve cost of working capital affects your business you should first know what the Federal Reserve is trying to do. The goals of Fed monetary policy are (1) support sustainable growth in the U.S. economy, (2) support high employment and (3) keep prices stable. The Fed accomplishes these goals through managing the amount of money in circulation and in accounts at commercial banks. One of the Fed’s tools for managing money is to change cost of working capitals. High cost of working capitals make money more expensive and contract the amount of money…
TYPES OF BUSINESS FUNDING
February 6th at 9:47pm
There are 6 main types of business funding: SBA funding, business lines of credit, invoice factoring or financing, business term funding, equipment financing, or a merchant cash advance option. 1. SBA Funding The USA’s Small Business Administration partially backs funding that range from $5,000 up to $5 million to help out small businesses, although the funding are actually provided by online funders and commercial banks. SBA funding can be used for almost any business purpose and have low APR rates and long repayment terms, but the application process is long and time-consuming. 2. Business Term Funding With a traditional business…
DO NOT USE YOUR PERSONAL CREDIT CARD TO FINANCE YOUR BUSINESS
January 30th at 9:45pm
Credit cards offer a quick way to get cash advances, purchase equipment, finance inventory, etc. A quick phone call to your credit card company can cause an increase of your credit limit and can offer immediate availability of funds. However, as a business owner, you must know that in many cases, credit cards can become a problem if used to finance your business. Business advisors highlight the following reasons why you should stay away from credit cards when funding your company: Credit cards can have a higher cost of working capital than business funding, or start with a lower and attractive cost of working capital but convert…
How to establish business credit
January 9th at 9:49pm
Just like regular consumers, businesses can have credit reports and scores. Major business credit bureaus such as Dun & Bradstreet, Experian, and Equifax all keep a record of all payments and history of a business. These reports are used by funders and other finance organizations to evaluate a business viability for funding and other financial transactions. If you are looking to build or improve your business credit, you must consider the following: Keep all accounts payable up-to-date.Establish a good credit relationship with all vendors.Obtain an employer identification number (EIN)Open a business credit card and make sure that it’s paid on time.Get Incorporated.Increase…
What is the difference between short term and long-term business funding?
January 2nd at 9:46pm
Short-term and long-term funding refer to the repayment time set by the funder, in which funding is paid back. A short-term funding usually will be paid within a few months to a year, in contrast, a long-term funding repayment period can last a few to several years. The decision to apply for a short-term funding vs. a long-term funding should depend on the purpose for the funding combined with the entrepreneurs revenue projections. business funding preferably should help a business to expand and generate more revenue. Top reasons you business can benefit from business funding: Inventory PurchaseAdd another location or…