If your business needs money, but doesn’t qualify for a traditional loan due to poor credit scores or a short business history, you aren’t out of options quite yet: a merchant cash advance (MCA) provider might be willing to advance you money—and fast. Unfortunately, many financial professionals warn against using this type of financing; the […]
Having good credit is a very important factor to getting a business loan. The higher your credit, the more loans you’ll have access to, and the better rates you’ll be offered. Frustrating as it may be, applying for a business loan (or other sources of funding) can have a negative effect on your credit. Knowing […]
When searching for a business loan, you might come across loans that do not have interest. Don’t get your hopes up—you still have to pay fees. The difference is, the fee is calculated using a factor rate, not an interest rate. Factor rates are often used on short-term financial products, such as short-term loans and […]
Perhaps it’s an understatement to say that starting a business is hard work. With countless judgment calls, details to attend to, plans to make, and business-related things to learn, quite frankly, it’s a wonder that anybody starts a successful business. One of the biggest decisions an entrepreneur with a fledgling business has to make is how to fund […]
Non-recourse factoring is a highly sought-after option when you’re considering a new invoice factoring partner. Unfortunately, there are many misconceptions about this kind of factoring, and some companies are not entirely invested in clearing up these misconceptions. To ensure you’re getting the best arrangement for your business, you need to know the benefits and limitations […]
Merchant cash advances (MCAs) and short-term loans (STLs) are an easy way for merchants to borrow cash for business purposes. Although these types of financing often get a bad rap, many legitimate business funders offer merchant cash advances and short term loans. However, because these types of funding are still relatively new and often misunderstood, some […]
Invoice factoring is perhaps one of the most convoluted types of financing available to merchants. Because factoring involves many different parties and has a lot of moving parts, rates and fees can be difficult to parse. Nonetheless, having a good understanding of rates and fees will ensure that you’re working with the best invoice factor […]
Wave is widely considered to be one of the best software choices available for small business accounting needs. Despite the (very welcome) fact that almost all of their services are completely free, Wave offers a robust set of features that will fit the needs of most small businesses. Until recently, however, Wave could only help you […]
Invoice factoring is often cited as an ancient form of business financing, dated back to the time of ancient Mesopotamia. But while the basic concept may be old, it is not outdated; factoring structures are continually changing to stay relevant to the needs of modern business owners. One new development, for example, is spot factoring. […]
If you’re a distributor or reseller who does not have the funds to fulfill customer orders, purchase order (PO) financing may be for you. Although PO financing tends to run on the expensive side, it can be a useful financial tool for businesses that have exhausted their other financial options. What is purchase order financing? […]
