America’s SBDC Blog

A “Forbes 100 Best Websites for Entrepreneurs”

Cash Flow Management Tips For Small Businesses

August 31, 2021
By Mobilization Funding –

Do you know how much cash your business has available right now? Do you know what bills are due this week and which later in the month? Many business owners know what is in their operating bank account, but don’t have a clear picture of what expenses will be due and how much cash they really need to get through the month and (hopefully) net a profit. Cash flow management solves this problem.

Cash flow management is essentially the tracking and analyzing of how money flows in and out of your business, and then forecasting when new cash will be coming in and how/when you will use that cash. Cash flow management is particularly critical for small and mid-size businesses, as they often have less free capital available to help them cover unexpected costs, delays, work shortages, or their own growth.

Managing your cash flow sources and the consequent uses of that cash can literally make or break your business. A U.S. Bank study showed that 82 percent of small businesses fail because of poor cash flow management. (more…)

5 Places to Get Answers to PPP and EIDL Questions

June 24, 2021
By Gerri Detweiler

Covid relief loans, such as the Economic Injury Disaster Loans (EIDL) and Paycheck Protection Plan (PPP) loans, have provided millions of businesses with critical funding. But with hundreds of pages of ever-evolving guidance about these loans and grants, it’s no surprise that many business owners find themselves confused and unsure where to turn for help with their PPP and EIDL questions.

At Nav, we’ve written extensively about both the Paycheck Protection Program and EIDL, and as a result, we’ve responded to hundreds of questions about these programs. Some of these questions are easy to answer, for example: (more…)

E-Commerce Financing: Funding Your Online Business

May 11, 2021
By Susan Guillory –

If you run an e-commerce business, that is, you sell products online and ship them to customers, how do you ensure that you keep inventory stocked, even when funds are low? Here’s what you need to know about e-commerce financing

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 e-commerce funding comes in. You can take out a loan to purchase what you need, then pay it back from your profits. (more…)

17 Finance Terms You Need to Know About Your Business Credit Card

April 20, 2021
By Sharita Humphrey

Your business credit card is more than just a piece of plastic to buy supplies with! If you use it properly it will help you build a solid financial foundation for your business.

But in order to use it well, you’ll need to learn the lingo that goes with your new card. Like the rest of your business, getting to know your way around the terminology can come with a learning curve! The following list of terms will help you be an informed business owner. And you’ll be able to maximize the value of using your business credit card.

1. Annual Fee: Some credit cards charge a fee for every year that you keep the card. While annual fees are more common on credit cards that come with rewards, or for rebuilding bad credit, some cash-back rewards and small business credit cards also charge these fees. Also, depending on the credit card, you may not have to pay an annual fee for the first year that you own it. (more…)

8 Truths About Securing Financing for Your Business

April 8, 2021
By Sharita Humphrey –

Every year, thousands of people start up their own businesses. Although they venture into different industries, they have one thing in common. They need money and capital to fund their business. A business simply can’t survive without finances. Even if you have the best idea, service, or product, it is not enough to sustain a company.

Securing funding for your business is not the key to its success. However, financing plays a huge role in your entrepreneurial journey, especially at the beginning.

Let’s dive into eight truths about securing financing for your business:

1. Small business owners should focus on cash flow over profit

A major mistake that many small business owners make is focusing too much on profit. What you should be doing is focusing on your monthly cash flow. Cash flow measures the ability of your company to pay its expenses on an ongoing basis. (more…)