Blog Posts | Page 59

As a small business owner, you know the importance of financing to expand your business or start your next project. While there are many options available to provide you with the capital you need to start a new business or grow an existing business, one of the best options is a loan through the Small Business Administration.

There are general requirements set by the SBA that all applicants must meet in order to receive a loan. There are also specific underwriting requirements by loan type that must be met.

If your business has outstanding invoices and slow-paying customers, you don’t have to deal with ongoing cash flow gaps. Invoice factoring could be the solution to your problem. In this post, we’ll examine how invoice factoring works, whether it’s a good financial decision for your business, and how to choose the best invoice factor. Table […]

Businesses that need $500,000 or less should consider applying for the SBA Express loan. Loan approval is guaranteed within 36 hours, while approval for an SBA 7(a) loan may take several weeks. However, businesses that are willing to wait and need a larger loan should look into the 7(a) program.

We hope you’re reading this article before you’ve been placed on the MATCH list, but if not, we’ll do our best to explain what it is, how it might affect the way you run your business, and whether there’s anything you can do to get yourself off the list. We’ll also look at alternative payment processing methods.

Choosing a high-risk merchant account provider isn’t the same as working with other payment processors. You can expect different pricing and contract terms — but you shouldn’t compromise on customer service. Here are six great providers that offer great service, fair pricing, and reasonable contracts for small businesses.

When you accept credit cards as payment, you are always charged a fee for processing. We’ll show you how fees work, which ones are mandatory, and which ones you can negotiate away or just skip by finding a great processor!

Knowing your effective rate helps you understand what you actually pay for credit card processing. Here’s how to calculate it, and use that information to find the best rates on merchant services.

Buying a business can be an exciting and rewarding venture, but getting a loan to finance this purchase is tricky if you don’t have spotless credit or an already-established business. Fortunately, alternative lenders have made it easier for aspiring entrepreneurs to secure non-standard business loans, SBA loans, and other types of financing.

After you’ve worked through the details of your 2-3 consecutive statements, it’s worth repeating your effective rate calculation on each one, just to ensure you didn’t miss any charges. You may have also spotted an extra or padded fee here and there that you’re ready to confidently take up with your MSP. You should also be able to locate any anomalies that occurred during a given month (e.g., excessive penalty fees, chargebacks, one-time incidental fees, etc.) that may have impacted your effective rate.