Finance/Capital Access

By Jason Steele –

Did you know that there’s a right way and a wrong way to close your small business credit card? If you do it the wrong way, you could miss out on rewards and benefits, and possibly even incur late fees and interest payments. Use these steps to make sure that you close your credit card account the right way.

Consider Alternatives to Closing Your Account

There are some good reasons why you may wish to close your small business credit card account, but many of them can be addressed by your card issuer. The market for small business credit cards is extremely competitive, and card issuers are willing to go to great lengths to retain existing their customers. For example, if you are closing your account because the annual fee is too high, and you let your card issuer know, then it may waive your annual fee to keep your business. Likewise, if the standard interest rate is not competitive, then your card issuer might be able to offer you a lower rate. (more…)

By Eric Rosenberg –

Business ideas come easy to some, but what happens when you have a good idea but no money to get started? Countless entrepreneurs have run into funding challenges when looking to found and build a new business. Here are ten ideas to get you started when looking to get money for your business.

1. Personal Savings

The first place to look for capital when starting a new business is your own bank account. If you are smart with your personal finances and keep good habits, you should have an emergency fund and retirement savings, but you should avoid tapping into those whenever possible. (more…)

By Constance Brinkley-Badgett

If you’re like many small business owners, you’ve taken on some debt in order to cover the costs of starting or growing your business. According to the Federal Reserve’s latest figures in the 2016 Small Business Credit Survey, 64% of loan applicants sought funds for a new business opportunity or to expand an existing one.

Whether you applied for a small business loan, used business credit cards or even sought out investors, you needed that initial cash infusion to get your business off the ground or to the next level. But what happens with that debt should your business hit a slow period? (more…)

By Lydia Roth

When you’ve mapped out the coming months for your business and expect to need a good amount of capital to grow, you may need to find outside funds. If you have a wealthy family member who believes in your venture, you’re in a good position. Otherwise, you can seek funds in the form of debt or equity financing.

Debt financing is when you take on someone else’s money in exchange for interest paid throughout the duration of the loan. Equity financing is when you take on someone else’s money in exchange for some ownership of your company.

Two popular forms of equity financing are VCs, or venture capitalists, and angel investors. If you’re thinking “I’ve heard of those and want in,” ask yourself these questions first:  (more…)