Browsing Tag
debt
12 posts
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 over a stated period of time. StartupNation exclusive discounts and savings on Dell products and accessories: Learn more here After...
5 Ways to Measure the Financial Health of Your New Business
The slow build-up of debt can contribute to the eventual collapse of a business, and small businesses are struggling now more than ever. Over time, your company may show signs of trouble, eventually moving into a deeper state of financial distress. And if the early signs are not actively addressed, your business can quickly snowball....
5 Preconceptions That May Be Preventing Your Side Hustle From Becoming Your Full-Time Gig
Entrepreneurship has always been the soul of the American economy. A recent survey revealed that 21 million people in the U.S. already have a side hustle, another 7.5 million plan to start a new one in 2018, and one in two millennials moonlight. It’s been said millennials are the most entrepreneurial generation yet. But the...
3 Ways to Start a Business When You’re Already Drowning in Debt
Ever since I was young, I've had an entrepreneurial spirit. When I was 15 years old, and all my friends were working at supermarkets and fast-food joints, I started a successful landscaping company. I kept it going until I graduated from high school and moved away for college. Then, during my freshman year in college,...
How Debt Stacking Can Threaten Your Business
Debt stacking can destroy your business, yet many entrepreneurs are unfamiliar with the term. Debt stacking is when a business takes out multiple, overlapping loans and/or merchant cash advances without paying off earlier loans, and the debt stacks up. The result is a business saddled with an exploding amount of debt, in which the debt...
The 5 Criteria You Need to Choose a Business Loan
Starting a business requires at least some upfront funding. You can attempt to be frugal and startup on a tight budget, but most businesses will require at least a few thousand dollars to afford initial product stock, office supplies, technology and employee wages necessary to build the infrastructure of the business. A lack of capital If...
Demystifying Small Business Debt to Unlock Growth
It often seems as though people treat debt like they do the plague: a nasty state of negative balances that should be avoided at all costs. But debt is less of an enemy and more of an unsuspecting ally that may just be the thing you need to really get your business growing. How exactly...
4 Realities of Bootstrapping a Business From Nothing
I started my business back in 2010 with absolutely no money. The first month I decided to try freelancing I made $5. Granted, back then, freelancing was still seen as something you did when you couldn’t find a job and blogging wasn’t really a trend yet. Regardless, I started a business from nothing and have...
The Biggest Financial Mistakes Startups and Entrepreneurs Make
It’s pretty commonplace for startups to make money mistakes. In fact, it would be rare if you didn’t make at least one mistake regarding your finances as an entrepreneur. The Wall Street Journal explains that “there is no surefire playbook” when it comes to winning with a startup. If you do enough research and have...
6 Ways New Businesses Can Maintain Healthy Cash Flow
Maintaining a workable cash flow (the capital going into and out of your business on a regular basis) is one of the most important concerns of any business, regardless of age or size. Poor cash flow management can easily put a business under. Conversely, good management might be able to keep a business afloat, even...
Small Business Loans: How to Simplify [Video: Part 1 of 2]
My name is David Haber and I am the cofounder and CEO of Bond Street, a startup that aims to make access to capital for small business owners more simple, transparent and fair. We are excited to collaborate with StartupNation to bring you this video series on small business loans. We created this class because we wanted...
Does Outstanding Debt Affect Your Ability to Borrow?
Chances are you already know that having outstanding debt can affect your ability to secure additional borrowing. But are you aware that the type of debt can make a huge difference? Here’s an overview of different types of borrowing and how they can affect your creditworthiness. Business loans If you already have a business loan,...