Chelsea Krause is a writer who specializes in accounting, payroll, and small business loans. She has been with Merchant Maverick helping small business owners manage their finances since 2016. She is a QuickBooks Certified User and former eCommerce store owner. Her accounting expertise has been quoted in Forbes and her work appears in Startup Nation, Small Business Bonfire, and Women on Business. Chelsea graduated summa cum laude with a BA in English & Creative Writing from George Fox University and studied abroad at the University of Oxford as well. She currently resides in Boise, Idaho.
Looking for an accounting definition? We cover all of the basics in our quick guide to accounting terms, so you can quickly understand important accounting terms and get back to running your business.
Credit bureaus arose to help lenders quickly gauge the reliability of a potential borrower. In the past, you could go to the good ol' general store and the owner would know you, your character, and whether or not putting your items on "charge" (or on credit) was a good idea. That method may have worked in the past, when communities were small and isolated, but there had to be a better way moving forward. Thus credit bureaus were born.
Learn what invoice financing is, whether it’s right for your business, and how to find a great financing company to work with in our complete guide.
Lenders like to know exactly how you plan on using the money they may potentially lend to you. If you've made successful investments in the past, like purchasing additional equipment that increased your sales revenue by 25%, and are planning on purchasing more equipment with the loan your applying for, be sure to tell your lender! It will demonstrate that you're experienced in business and that you're likely to increase your cash flow (which a lender hears as "we're getting our money back").
Wells Fargo business banking offers a range of services aimed at different types of businesses, from startups and sole proprietorships to corporations and partnerships.
Despite some drawbacks, Bluevine business banking offers enough positives to outweigh the few negatives and make this a banking option that’s worth a second look for most small businesses.
Bank of America is a tried and true option for business banking services. It combines the best of brick-and-mortar with the online banking services users today demand. The bank does well in meeting the needs of both its online clientele, with a strong and functional app, and the customers who walk through the physical doors.
Novo’s financial services have some attractive features designed to appeal to its target audience: small business owners who are comfortable operating in a fully digital environment. If that sounds like you, keep reading this Novo review.
Ultimately, corporate card accountability can limit the chance of employees making fraudulent purchases. This can save you time and money by limiting needless audits. Additionally, employees may be more honest with their corporate card use if you communicate clearly that every purchase is documented by the company.
Relay offers a free business checking and savings account with $0 fees for almost all transactions. The exceptions are outgoing wires, which cost $5 for domestic and $10 for international. Relay also offers a paid account, Relay Pro, which starts at $30/month.
A business license is a permit to operate your business, and it is non-negotiable. In fact, it is illegal to operate a business without a permit or license. This keeps you accountable to the city in which you operate and helps local government agencies regulate the businesses in their jurisdiction. Learn more about getting and maintaining a license to run a business in your state.
TriNet is a PEO that handles your small business’s payroll and HR for you, so you can save time on payroll and get back to running your business.
If you need a lump sum, are able to state the intended use, and can pay the money back over the next few years, a term loan might be best. Our small business loan reviews can help you find a lender that works for you. If your financial needs are vaguer and your ability to repay quickly is more solid, a line of credit may be the way to go. In that case, we can help you find the best business lines of credit as well.
Corporate credit cards are designed for large companies and corporations. Business credit cards, meanwhile, work similarly to traditional personal credit cards.
Want to help shape the future of the Merchant Maverick website? Join our testing and survey community!
By providing feedback on how we can improve, you can earn gift cards and get early access to new features.
Help us to improve by providing some feedback on your experience today.
The vendors that appear on this list were chosen by subject matter experts on the basis of product quality, wide usage and availability, and positive reputation.
Merchant Maverick’s ratings are editorial in nature, and are not aggregated from user reviews. Each staff reviewer at Merchant Maverick is a subject matter expert with experience researching, testing, and evaluating small business software and services. The rating of this company or service is based on the author’s expert opinion and analysis of the product, and assessed and seconded by another subject matter expert on staff before publication. Merchant Maverick’s ratings are not influenced by affiliate partnerships.
Our unbiased reviews and content are supported in part by affiliate partnerships, and we adhere to strict guidelines to preserve editorial integrity. The editorial content on this page is not provided by any of the companies mentioned and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are author’s alone.
