Category: Running a Business

How To Freeze Your Personal Credit (And What It Means for Your Business)

How To Freeze Your Personal Credit (And What It Means for Your Business)

Jump to SectionShareFacebookLinkedInTwitterShare LinkWhy Should I Freeze My Credit? Or Not?Can I Freeze My Business Credit Too? Should I?What Happens When I Freeze My Credit?Can I Continue Operating My Business With Frozen Credit?How to Freeze Your CreditCheck If Your Data Is BreachedIs There a Cost to Freeze Credit?Can I Monitor My Credit With a Credit Freeze?Can I Build Credit When It’s Frozen?How Nav Can Help Consumer data broker National Public Data acknowledged a data breach that may have exposed the… Read More
What Is a Good Profit Margin? The Different Types of Profit Margins & Industry Benchmarks

What Is a Good Profit Margin? The Different Types of Profit Margins & Industry Benchmarks

“No business will survive at the end of the day without profit,” warns Bruce Eckfeldt, 5X Inc 500 CEO and strategic business coach.  “There are ways to deal with cash flow issues in the short and medium term, if you can show long-term profit.” While many business owners find the numbers side of running a business tedious or frustrating, they provide insights you can't get otherwise. Understanding profit margins and building a profitable business is what makes a business successful. … Read More
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 Organize Your Small Business Finances

How To Organize Your Small Business Finances

Organizing your business finances can be a challenge, whether you’re a new small business owner just starting out or growing your business.  When Rosie Ferrero started her ecommerce business, Roupa Fashions, a boutique that curates designs and styles from around the world, she did something smart: she opened and used a business bank account. But she found that keeping all her money in one business account didn’t give her the insights she needed to make informed decisions about her finances. … 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