Women own more than 11.6 million of the firms in the United States, employ nearly 9 million people, and generate $1.7 trillion in sales, according to the 2017 State of Women-Owned Businesses Report, which was commissioned by American Express Open. Each year the number of women entrepreneurs grows and projections expect the numbers to continue to climb. Despite this, getting business funding for women entrepreneurs can be a real challenge. Only slightly more than 4% of dollars lent to small businesses each year are companies owned by women, according to a report prepared for the U.S. Small Business Administration and […]

In the world of finance, your credit score means everything! The higher a person’s credit score, the higher their chances of qualifying for great credit offers from multiple financial providers. The opposite happens if your FICO rating is low—or if you’ve done nothing to build credit. But due to the tricky nature of life, it is difficult to run away from a low score, at some point, you’ll find yourself below the line.  So the remedy is to fund your company using means that will better your score when you’re good to push your business a level higher. Here are […]

Cash is king when it comes to running a successful small business. To operate smoothly, you will need cash to pay salaries, fund marketing programs, purchase supplies and inventory, cover rent and invest in equipment, along with all other day-to-day expenses. But how do you know how much cash your business really needs? Do you have enough in reserve to weather unexpected financial situations and seasonal fluctuations? The following questions will help you analyze your current cash-flow and determine how much cash you really need: What does your cash-flow statement say? To find out how much cash your business has […]

Bad credit can have affect your life in many ways. It can make it hard to rent an apartment, get the job you want and even prevent you from getting a cell phone contract. For the aspiring entrepreneur, poor credit can halt business plans altogether. Bad credit can not only lead to higher rates and more restrictive terms on approved loans, but also affect your ability to be approved at all. Fortunately, the creativity and flexibility of alternative providers have made it much easier for business owners with bad credit to secure the working capital they need. High-Risk Providers A […]

Sometimes following trends may incur you avoidable expenses. For example; the sudden increase in the number of companies applying (and qualifying) for merchant cash advances may push you into making rush borrowing decisions you might later regret. These quick cash options are known to cost merchants dearly if not well scrutinized during selection. Merchant Cash Advances, for instance, carry triple-digit annual percentage rates (APRs) — which is the gross cost of a loan, plus all fees. These added charges along with the daily repayment schedule often affect cash flow. And in worst cases, you may end up in a debt […]

Are you a trucking business owner in need of business funding? If yes, it’s critical for you to find a reliable and affordable business financing provider. Since your business is considered high risk, it’s important to turn to an expert lender that specializes in the field. To get to know how you can get access to the necessary working capital, just read below. Interested in Financing for Trucking Companies? The availability of funds is too important for trucking business owners. Otherwise, they can’t stay organized, keep the trucks on the road, and maintain a staff of competent and committed drivers. […]

As of 2016, there were 28.8 million small businesses in the US, which represented 99.7% of US businesses. Only about 24.1% of small business loans were approved by big banks, and smaller banks approved about 48.9%. Alternative lenders approved 58.2% of loan requests. In less than 20 years, the merchant cash advance (MCA) industry has gone from $0 to $10.7 billion by 2015, and is expected to account for $15.3 billion in 2017. Are you faced with the problem of whether you should take out a business loan or a merchant cash advance? Below you can find some important information […]

Woman-owned businesses are making more and more economic contributions at rates that are higher than the national average. As of 2016, there were over 11.3 million woman-owned businesses in the US (a 45% increase since 2007), according to The 2016 State of Women-Owned Businesses Report from American Express. These businesses employed about 9 million people and generated more than $1.6 trillion in revenues. Getting officially certified as a woman-owned business has its advantages. For female business owners, there are certifications like the Woman-Owned Small Business (WOSB) and Economically Disadvantaged Woman-Owned Small Business (EDWOSB), which give women entrepreneurs access to resources […]

Merchants who have bad credit are viewed as riskier borrowers by small business loan providers.  Creditors who lend money to bad credit merchants usually shy away from these borrowers since they aren’t sure high risk merchants won’t miss their payments or default. The Fair Isaac Corporation (FICO) calculates credit scores and provides the famous FICO score. The Corporation uses information from the 3 credit bureaus, Experian, TransUnion, and Equifax, and calculates the score. Be aware, your bad credit can cause a number of problems such as higher interest rates. According to FICO: Maxed-out card costs 10 – 30 points for […]

64% of small business owners start with $10.000 or less. They’re primarily self-funded. If you, as a small business owner, need access to working capital, be aware it may be challenging to get approved for a small-business loan. So, you need to prepare well so that to increase your chances of getting a loan. What do you need to focus on? Reason You Need Funding Lenders would like to know the reason you’re applying for a small business loan. Determine whether you need it to start your business, manage day-to-day expenses, grow your business, or maybe to have a safety […]