Category: Business Financing

Accounts Receivable Financing

April 14, 2022 Kat Cox

What is Accounts Receivable Financing? Accounts receivable financing is a type of financing arrangement wherein a business receives financing funds based on part of its accounts receivable (AR) as either a loan or asset sale. It’s used to help businesses get cash instantly without having to wait as you might with other financing options like usual small business loans. Whether you’re trying to expand your business or simply make ends meet, cash flow constraints are one of the biggest challenges… Read More

The Best Working Capital Loans: What You Need to Know

April 14, 2022 Tiffany Verbeck

Working capital is the money a business uses to cover its daily expenses like utilities, supplies, payroll, and rent. A working capital loan offers your business a way to temporarily pay for these expenses when your bank account is running low. You might think that if your business is successful and you manage its finances correctly, you'll never need a working capital loan. But that’s not necessarily true. Maintaining a balance of cash on hand can be a challenge. While… Read More

What Is the SBA’s Definition of Small Business?

April 3, 2022 Gerri Detweiler

Small business owners who would like to get an SBA loan or to compete for federal government contracts set aside for small businesses must meet the U.S. Small Business Administration’s definition of a small business. Here we’ll explore exactly what that means and ways to take advantage of government resources for small businesses, The SBA offers its Size Standards Tool, an online tool that will walk you through basic questions to help determine whether your business qualifies as a small… Read More

Business Loans for Nonprofits

March 25, 2022 Susan Guillory

If you run a nonprofit that doesn’t rely on fundraising, you may be looking for a solution to your business financing needs. Is your nonprofit eligible for a business loan? Where should you look? What kind of terms and rates do you qualify for? What to Know About Business Loans for Nonprofits Nonprofit organizations are notorious for facing a mountain of financial struggles. Many use fundraising and apply for grants to get the capital they need to boost cash flow… Read More

The New York Small Business Recovery Grant Program

March 25, 2022 Kat Cox

What is the New York State COVID-19 Pandemic Small Business Recovery Grant Program? While COVID-19 is still an active threat to many small businesses well into 2022, most pandemic economic recovery programs, like the Small Business Administration’s Paycheck Protection Program (PPP) loans and Economic Injury Disaster Loans (EIDL) from 2020 and 2021, have stopped accepting applicants. But New York State still has one program available to help struggling businesses who are recovering from the impacts of the COVID-19 pandemic: The… Read More

Grants for Minority-Owned Small Businesses

March 25, 2022 Imani Bashir

Who is Eligible for Minority Business Grants? Eligibility requirements for minority business owners can vary based on the grant application. The great thing about applying for grants is that they serve a variety of business sectors including nonprofit organizations, for profit, startup businesses, early-stage and beyond. It’s important to always read the terms and conditions to be sure that you qualify for the grant money. Additionally, private grants versus federal grants may differ based on the nature of the minority… Read More