Simple Ways to Establish Business Credit
It's practical to learn how to establish credit for your business. However, before you start applying for loans, weigh the costs as well as the impact on your business. Once you are approved for a...
Browsing Tag
Business Credit
39 posts
Mistakes This Entrepreneur Made With Her Startup’s Finances (and How to Learn From Them)
Business owners are dealing with unprecedented times right now. Many entrepreneurs are struggling to keep their businesses afloat, with financial struggles as their main priority. Prior to this crisis, I began thinking about my own...
E-Commerce Financing: Funding Your Online Business
It’s a Catch-22: you sell your products to make money, but you need money to buy those products to sell. What if you don’t have the working capital on hand to do so? That’s where...
7 Exceptional Ways to Make Your Business Stand Out to Lenders
Searching for a small business loan can feel a little bit like hitting the dating scene. You’re researching lenders wondering, “Will they like me? Or will they reject me?” Working at Nav, where we’ve played...
How Trade References Can Help Your Startup Get Financing
New businesses often find it challenging to get financing. Many lenders prefer to lend to businesses that are at least a year or two old and that have strong financial profiles. But if you wait...
3 Ways to Help Protect Your Business from Identity Theft
As if the pandemic isn’t causing enough stress and anxiety for business owners, there’s another growing threat to worry about: business identity theft. KrebsOnSecurity, a leading security news source, recently warned of a “particularly aggressive business ID...
Business Line of Credit vs. Business Credit Card: Which is Right for My Business?
As an entrepreneur, capital is one of your most valuable tools. It takes money to make money, but you often need an initial influx of cash to turn a healthy ROI. However, even the most...
4 Things You Need to Know About Establishing Business Credit
Establishing a strong business credit profile is an important factor in how a business’ creditworthiness is evaluated when applying for a small business loan. Granted, different lenders have different thresholds for creditworthiness, but the business...
Why Was My Business Loan Application Denied?
This is a pretty simple question with a more complicated answer. There are a lot of reasons why a business loan application might be denied, but what most small business owners should be asking themselves...
Further COVID Stimulus on Hold for Now: What Does That Mean for Small Businesses?
Last week, the president announced that COVID stimulus is on hold for now and that further negotiations on a comprehensive stimulus bill wouldn’t take place until after the election—just weeks away (at this writing). Although...
How to Pay Back an EIDL or PPP Loan
If your business received an Economic Injury Disaster Loan (EIDL) or Paycheck Protection Program (PPP) loan, you may have determined it isn’t a good fit for your small business for any number of reasons: You...
6 Steps to Take After Getting a Business Loan
Once you decide to finally launch the startup you’ve always dreamed of, you may need to take out a small business loan. However, this process doesn’t simply consist of obtaining a loan and repaying it...
Leveraging Credit to Build a Healthy and Thriving Business in 3 Steps
Popular media would have entrepreneurs believe that money is the solution to all of their business problems. Although 84 percent of business failures can be attributed to being undercapitalized and suffering from inadequate cash flow,...
5 Simple Ways to Organize Your Small Business Finances
Credit scores are often seen as the number one obstacle preventing small businesses from getting financing. But disorganized financials may be equally to blame. In today’s challenging economic environment in particular, lenders want to make...
7 Steps to Get Your Business Lender Ready
For years, I’ve been encouraging business owners to line up financing before they need it. Whether it’s a crisis or opportunity, you want to be prepared so you can respond quickly—and that crisis is now...
5 Tips for Keeping Your Business Credit Strong During Turbulent Times
No one knows how long it will take small and independent businesses to recover from the COVID crisis; at this point there is no timeline that allows for serious planning. But what is clear is...
What Lenders Want to Know About Your Business Right Now
Whether you’re talking to an SBA lender or any other lender, they all are trying to get the answer to basically three questions. They might not all ask the questions in the same way, but...
Applying for a Business Loan is Changing Due to COVID-19: Here’s What it Means
As the coronavirus ravages businesses, small business lenders are re-evaluating their underwriting policies, along with reviewing their risk tolerances for those industries that look like they may be hit hardest by the disruption. Here’s what...
Resources for Small Business Aid Amidst the COVID-19 Crisis
As local businesses close their doors amidst the coronavirus pandemic, entrepreneurs and business owners worldwide are scrambling to make ends meet. If you're in need of assistance during this time, consider the following resources for...
11 Options if Your Small Business Can’t Pay its Bills Due to Coronavirus
Coronavirus is having a significant impact on many small businesses already and no one knows how long or how hard the economy will be affected. If you are having trouble paying your bills due to...