As you navigate business financing, it may be tempting to use your personal finances to help out when your business needs a boost, but that is not always the best solution in the long run. Separating your personal and business finances can help ensure you treat your business like the independent entity it is, while safeguarding your personal finances.
The Right to Transparent Pricing and Terms
You have a right to see the cost and terms of any financing you are offered in writing and in a form that is clear, complete, and easy to compare with other options so that you can make the best decision for your business.
What this means for lenders and brokers:
7 Signs That You Shouldn’t Sign (or E-sign) on the Dotted Line
As a small business owner, you are probably used to doing just about everything online - from invoicing and paying bills to marketing and ordering inventory. So it might seem natural to look for a small business loan online too. And with platforms like Accion Opportunity Fund, and NYC Local Lending, there are some great options online.
You may not be trimming the tree just yet, but it’s definitely time to make sure your business is ready for the biggest shopping season of the year. From retailers to restaurants, the majority of small businesses will significantly boost their bottom line in Q4. According to a recent survey from Vistaprint, 75% of consumers indicated that they’re likely to do at least some of their holiday shopping with small businesses this year.
One of our most engaging tweets last month featured a link to our mission-driven lender locator map. It’s not a surprise that the resource caught our followers’ eyes, as gaining access to capital is not exactly smooth sailing for most small businesses.
For most businesses there are two types of financing: debt and equity. Debt financing is a loan. The lender gives you money and you promise to pay it back with interest—the cost of borrowing the money. Equity funding means selling a piece of your business. An investor gives you money in exchange for owning a piece of your company.
When it comes to equity funding, women and minority owners have historically had a harder time accessing capital. Luckily, there are a growing number equity firms looking for women-led businesses to fund.
When it comes to equity funding, women and minority owners have historically had a harder time accessing capital. Below are some of the groups looking to change the status quo.
From startup and everyday operating costs to growth and expansion costs, cash is the lifeblood of a business. Large corporate organizations and small business alike are required to make decisions about where and when to spend (or not to spend) money. To do this, it’s imperative that you monitor what is commonly referred to as “cash flow.”
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