Finance/Capital Access

By Gerri Detweiler –

Many entrepreneurs find the process of building business credit frustrating. It’s not terribly difficult, but it does involve a few steps, the most important of which is to obtain accounts that report to commercial credit agencies.

By paying those bills on time (or early) and keeping your debt in check, you can help build strong business credit. But because many small business bills aren’t reported to commercial credit reporting agencies, business owners may find themselves with little credit data on their reports.

But there’s a new simple solution that can help business owners build credit using accounts they already pay, and it’s fast and easy. Here’s how it works. (more…)

By Megan Tyler –

Getting a business loan can be tough. You know the ins and outs of your own business, but you might not know how to get the funding you need. To make matters worse, small business lending is full of confusing financial lingo that you may not understand. If you need a crash course in business lending lingo, here’s a quick rundown of five confusing small business loan terms.

APR

You see APR everywhere when applying for financing, but you might not remember everything that goes into calculating the APR for different types of financing. APR stands for Annual Percentage Rate, and it estimates the overall annual cost of a loan including fees and compounding interest. (more…)

By Megan Tyler –

Whether you’re competing for a government contract or trying to secure favorable terms for a loan, a solid Dun & Bradstreet Rating can help you take your business to the next level. As the oldest credit bureau in the U.S., Dun & Bradstreet (D&B) deals only in business credit and is often the go-to credit agency for the the federal government and other high volume lenders. But how do you get your D&B scores?

Business credit works differently from personal credit. Unlike with personal credit, you aren’t entitled to one free business credit report per year, and lenders aren’t required to tell you if they turned you down for a loan based on your business credit score or lack thereof. Many business owners may not know how to interpret their business credit, and that goes doubly for a multi-faceted rating like Dun & Bradstreet’s. (more…)

By Connor Wilson –

While summer won’t officially begin until June 20, the warm weather is already here and school is already out in most places. Depending on the type of business you run, this is either good news or bad news. Some businesses see significant dips in income in the summer months, while some seasonal businesses operate exclusively in the summer.

With millions of Americans preparing to travel, beautify their yards, or just head out to enjoy the season, this is the time for summer businesses to make money. For some, it’s the time to buckle down and strategize so their businesses survive the slow months. There are a number of strategies your business can use to stay afloat and continue to innovate, but one in particular is the tool that every summer business needs to stay on track and meet its goals. (more…)

By Jason Steele –

Credit cards can be an indispensable tool for small businesses. These products offer companies a secure and convenient method of payment, while providing a valuable means of financing and being more readily available than other options like a small business loan.

But with a small business credit card, its balance and payment information will be recorded on the credit histories of the primary account holder, just like a consumer credit card. This isn’t a problem when your small business cards are managed responsibly, but it causes issues when they are are not.

Here are five ways that a small business credit card can hurt your credit. (more…)