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Education: AA Liberal Studies, Limestone University
Erica has been writing about small business finance and technology since 2008. She joined Merchant Maverick in 2018 and specializes in researching and reviewing business software, financial products, and other topics to help small businesses manage and grow their operations. Her expertise has been cited in MSN, Reader’s Digest, Vox, U.S. News & World Report, and Real Simple. She is a Certified ProAdvisor for QuickBooks Online and QuickBooks Payroll, a graduate of Limestone University, and currently resides in Greenville, South Carolina.
One form of relief offered to small businesses is the Employee Retention Tax Credit. First introduced in the Coronavirus Aid, Relief, and Economic Security (CARES) Act, this tax credit could be claimed by eligible employers on quarterly tax returns. This program was expanded by the Consolidated Appropriations Act signed into law in December 2020, making the credit accessible to more employers.
The SBA offers a variety of loan programs that vary according to business needs. Its flagship program is the 7(a) loan program, which offers loans for most general business purposes. However, it also offers special programs such as microloans and disaster loans. Find out more about SBA loans, including who qualifies.
QuickBooks Online is cloud-based accounting software. It has the complex accounting capabilities that small business owners need and supports numerous integrations. Quickbooks Online has a lot to offer in terms of features, accounting, and usability.
Square Invoices is a free invoicing solution built-into the Square platform so that you can quickly bill clients, track down invoice payments, and manage your sales all in one place.
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.
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.
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!
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.
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”).
Looking for a line of credit? We have searched out and evaluated the best credit lines currently available to businesses of all sizes — from startups and incubator businesses to stable and established operations.
Do you have poor credit? Or even fair credit that you want to improve? Your personal credit score can impact not just your personal finances, but also your opportunities for small business loans and other forms of financing.
With so many great options for a cash flow loan, it can be hard to know which is right for your business. Read this detailed post and know about the factors that will play a role in deciding which lender you should go after.
Need cash flow to make payments on time, operate your business, or secure that dream loan you’ve been waiting for? Get your business’s finances on track with these 12 tips for improving cash flow.
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Get Started With A Top Pick! 🏆Square Invoices gets our expert seal of approval.Our team of experts spends hours on every review so that we can find the best companies to recommend to our readers. Square Invoices made the cut.Learn MoreSee what this company has to offer.
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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.
Get Started With A Top Pick! 🏆Square Invoices gets our expert seal of approval.Our team of experts spends hours on every review so that we can find the best companies to recommend to our readers. Square Invoices made the cut.Learn MoreSee what this company has to offer.