The last few years have been extremely tough for many small business owners. A tough economy means slow business, a loss in revenue, falling behind and even defaulting on payments. Any one of these can result in bad credit for a business owner. When a business owner then goes to apply for additional business capital, they will discover that they have been rejected. The big problem for businesses that have bad credit is that they are now considered a risk in the eyes of traditional lenders. If your credit score is less than stellar, securing a loan will be extremely […]

Starting and running a business is never a perfect, smooth process. Obstacles will pop up all along the way, and opportunities will unexpectedly be dropped on your doorstep. These unplanned and unexpected situations are when you will need funds the most. Having the funds you need will determine whether or not an opportunity passes you by and whether or not you sail smoothly through a rough patch. You might not be able to secure additional funding from a traditional source for different reasons. Your business may be considered high risk due to the nature of the business or simply because […]

It is true that a number dictates whether or not you can receive funding for your business. Your credit score, good or bad, determines your eligibility for financing. High scores mean finding funding sources will not only be easier, but you will also have a variety to choose from. However, if your score is low the variety narrows significantly – options can even become nonexistent. Unfortunately, you can’t treat your credit score like an etch-a-sketch and simply swipe and start over. You are stuck with it. It is possible, however, to fund you’re your business in ways that will actually […]

Cash plays a big part in any business. Unfortunately, it is also something that entrepreneurs are extremely short on when starting up. In a situation where cash is need and quickly, many business owners have started to turn to a cash advance as the answer. What is a small business cash advance, and how it can benefit a small business? Many believe that a cash advance is a loan, but that is not true. A merchant cash advance is simply a sale. With 1st American Merchant Funding for example, a merchant cash advance involves a purchase of your future sales […]

One thing every small business should avoid at all costs is messing with the IRS. With that being said, don’t be afraid to deduct what you legally can – don’t cheat yourself. The following twelve deductions are some that you might not have known or thought about before. All it takes is a little documentation throughout the year. Home Office – Many small business owners are afraid to claim a home-office deduction because they believe this is just asking for the IRS to investigate. While the chances are greater when making this deduction, the key is to use the term […]

The financial crisis the economy experienced several years ago has caused many business owners to suffer from bad credit. It is a fact that smaller businesses struggle the most in securing funding from a traditional bank. While recent news has suggested that it will be getting easier for businesses to obtain funding from traditional sources, having bad credit is still a big issue. Gaining access to capital is the biggest roadblock for entrepreneurs as they struggle to grow their businesses. Even businesses with stellar credit ratings can struggle. Without the funding it needs, businesses are unable to purchase additional inventory, […]

For any business, cash is vital; this is especially true for the small and mid-sized businesses. Why? Cash is necessary to pay suppliers, to maintain inventory and to grow a business. There are many reasons why credit market availability can change; an economic recession or a business being categorized as “high risk” serve as two examples. When this takes place, many businesses turn to a new solution – a merchant cash advance. What is a merchant cash advance? A merchant cash advance is an alternative source of business funding for entrepreneurs. These entrepreneurs may lack the credit rating or collateral […]

If you have a business that is considered high risk, you have even more reason to be aware of a disturbing Department of Justice program. Operational since 2013, it has been named Operation Choke Point; this program allows unelated bureaucrats to target law-abiding individuals and/or industries. The intention of this program was to battle fraud and money laundering. However, it did not take long for the program’s powers to be abused by unelected bureaucrats. At the beginning of March 2015, the US Consumer Coalition revealed the unjustified attacks that were made on Global Hookah Distributors. This North Carolina tobacco distributor […]

While many think that small business owners are mauled by the bank’s loan department, new data is showing that it isn’t true. In fact, many of today’s new start-ups are being funded by the owner, and not by the bank. Whether it is personal savings, or a family loan, or even a crowdfunding source, this brings forth the information that mall businesses need not rely on the big banks anymore. However, not everyone has the resources, so sometimes bank funding seems to be the only choice. Luckily, for merchants, this is not the only choice. Merchant loans for start up […]

Tax season is here, but merchants should consider the ramifications of the IRS with every business choice they make. While most choices can benefit your business, many come with strings attached, which can leave you in a mess with the IRS if you are not prepared. First off, do not get a bank loan for an start-up business. Not only do you have to pay taxes and submit many forms when paying your taxes, but they are also a bad idea due to their set-up. Bank loans are not offered up to every business. High-risk businesses hardly ever qualify. Interest […]