Category: Business Financing

What is a Merchant Cash Advance?

What is a Merchant Cash Advance?

A merchant cash advance (MCA) is a type of business financing that offers small business owners an advance against future sales. Instead of collecting from customers as sales are made, the business gets a lump sum that will be paid back out of future sales. Typically, the MCA provider will take a fixed amount or a percentage of credit or debit card sales directly from the businesses’ merchant account, along with a fee called a “factor rate.”  MCA’s are often… Read More
How to Improve Your Business Credit Score

How to Improve Your Business Credit Score

Building business credit has paid off for Coleman's A/C Heating & Appliance Repair. “(Our) credit scores allowed us to secure a loan, which we used to expand our operations and add a company vehicle,” says April Coleman, vice president of the Jackson, MS-based business, which specializes in the repair, maintenance, and installation of air conditioning, heating systems, and household appliances. How did they do it?  “To improve our business credit scores, we first signed up for a credit monitoring app… Read More
How To Calculate Total Financing Costs and ROI

How To Calculate Total Financing Costs and ROI

Key takeaways: Financing costs refer to all the expenses related to borrowing money, including interest and any fees. ROI, or return on investment, is calculated by dividing net profit (or loss) by the cost of the investment. For small business owners with limited time and resources, calculating financing costs and ROI can be particularly challenging. Still, these metrics are essential for managing cash flow, evaluating investment opportunities, and deciding when to borrow. When is it worth it to borrow money… Read More
How To Create a Financial Plan for the Small Business Saturday Push

How To Create a Financial Plan for the Small Business Saturday Push

Small Business Saturday is an opportunity to celebrate local businesses, and to encourage consumers to shop local.  For entrepreneurs, it can be an opportunity to get new customers and increase sales. But making Small Business Saturday a success isn’t without costs. Creating a financial plan for Small Business Saturday can help you make sure that your business is really ready for the holiday season. What is Small Business Saturday? Small Business Saturday is an annual event held on the Saturday… Read More
How To Build and Keep a Solid Business Credit Rating Before the Holidays

How To Build and Keep a Solid Business Credit Rating Before the Holidays

Every year, the holiday season seems to start earlier and earlier. For small business owners who rely on holiday sales, it’s never completely out of mind.  One factor that can impact a company's success during the holidays is its business credit rating. A solid credit score can open doors to better financing options, more favorable terms with suppliers, and increased flexibility in managing cash flow during this hectic time. The holidays are a key time for Myrlande “Mimi” Desances, the… Read More
Must Do Checklist for Small Business Financial Checkup

Must Do Checklist for Small Business Financial Checkup

Every Friday, Margo Burr, a public speaking trainer and Founder of B7 Media Relations, reviews her business finances. Using her accounting software and spreadsheet, she spends about 30 minutes checking in on her business spending and revenue. She also sets quarterly goals and checks in monthly.  “It holds me accountable,” she says, “and helps me see in real time what I spent.” Whether you are a small business owner with a startup, or have several years under your belt, regular… Read More