For many an individual and business, access to credit depends on FICO scores and the contents of credit history reports maintained at the three major credit bureaus – Equifax, TransUnion and Experian. A “pull” is a credit inquiry from a legitimate entity, made in order to check your credit. A hard pull is one that […]
Hard Pull vs Soft Pull Credit Checks Read More
All businesses need money to stay in business. Sometimes a loan makes the most sense to get access to the necessary funds. Unfortunately, many owners of small businesses think first of banks as the source for loans. Although there’s a bank around every corner, there are also many problems lurking around those corners as well.
Why Online Lending Could Benefit You More Than a Bank Loan Read More
No matter how well you run your business, you are never immune to a potential financial crisis, either within your own company or in the general economy. That’s why it makes sense to plan for the worst as you hope for the best. Here are some tips to help you navigate through a financial crisis:
Getting Your Business Through a Financial Crisis Read More
Natural disasters can wreck your business. Hurricanes, earthquakes, volcano eruptions, meteor strikes, terrorist attacks, nuclear meltdowns, viral contagions and other mishaps can cause power outages or shut down key vendors, events that can cripple small businesses. According to the Institute for Business and Home Safety, 25 percent of businesses that experience a major disaster never
Disaster Plan: Why You Need It and How to Create It Read More
The Affordable Care Act contains provisions that go into effect in 2016 pertaining to small businesses with no less than 50 full-time employees (or full-time equivalents). These rules are a continuation of ones already in place for businesses with at least 100 employees. Although 2016 is months away, the preparations are going on now, because
Small Business Owners Scramble Over New Tax Form Read More
There are many myths surrounding the effects of minimum wage rules upon small businesses. Often, you’ll hear some say they “can’t afford” to pay their workers minimum wage or that customers would be happier if all employees were provided a raise in minimum wage. Fortunately, the topic has been the subject of dozens of academic
Myth vs. Fact: The Impact of Minimum Wage And Small Business Read More
Let’s stipulate from the start that a small business should always be preparing for tax season. There should never be a time when you aren’t maintaining proper records and taking full advantage of the tax laws. When you wait until the last minute, you make the process more complicated and may discover tax benefits you let slip
Quick Tax Tips For Small Business Read More
I read this article recently about the Credit Union Small Business Jobs Creation Act, H.R. 688, which would raise the cap on loans credit unions can make to their small business members from the current 12.25 % of assets to 27.5 % of assets. Sounds like good news for small business owners, right? While the article applauds
Proposed Credit Union Small Business Jobs Creation Act – Will it Help? Read More
A recent USA Today article featuring IOU Financial examined unconventional lending sources for small business. Even for healthy businesses, those with positive cash flow and strong financial history, getting loan approval from a traditional bank is difficult. Whether the size of the loan is too small or the cost to process and fund it is too expensive, there is
Small Business Owners Find Alternative Solutions For Capital Read More
Some businesses actually thrive in a recession. Here are a few that may surprise you: Cosmetics: When things get tough, women look for more inexpensive ways to pamper themselves like cosmetics and nail salons. In fact, some economists point to rising lipstick sales as a sure sign of a sagging economy. Dry cleaners: People still
3 Steps to a Recession Proof Business Read More