How to Finance your Small Business when Saddled with Bad Credit
Having a small business with bad credit and unable to find working capital, cash flow needs can be the biggest nightmare for any small business owners. Factoring companies understand the pain of not having good credit when business is struggling for cash flow and working capital. At very minimum, 30% of Americans have poor credit. If you are sitting in between two people, look to your left, and then a look to your right. Odds are, one of you has a weak credit report following you around or no credit at all! Even worse, according to a recent...
read moreHow to Get Business Loans with Bad Credit
Bad Credit Business Loans? Infuse Your Business With Cash! In the cutthroat world of small business funding, a bad credit score is a scarlet letter that warns all business lenders to stay away. You can take steps to improve your credit, but this takes time, time that you might not have. If you can’t get a business line of credit and feel like your small business is stuck because of a bad credit score, there are still options for you. Do not give in and take a high-interest cash advance loan that will keep you paying for years. Instead, by...
read moreFinancing for Beer, Wine and Spirits Wholesalers, Suppliers & Distributors
Beer, wine and spirit distributors, wholesalers, and suppliers work with multiple companies across the US and the world. Businesses like Young’s Marketing Company and Southern Wine & Spirits leverage their sheer size to manage their working capital. How about the smaller guys? What happens when they get their working money tied up in accounts receivables and inventory? Payment along the supply chain can get up to 30-60 days. What financing and funding opportunities are there as a smaller importer, distributor, supplier, or...
read moreInvoice Factoring and Credit Insurance
In today’s continually changing business world, traditional credit control practices are often not able to guarantee protection against loss or even bankruptcy. Newer credit management tools such as credit insurance and invoice factoring are becoming the mainstream of today’s small business culture. This gives companies a way to maintain profitability and protection of Accounts Receivable. The accounts receivable can be the most vulnerable part of a business whether the company is small or large. For example, most companies ensure...
read moreWhat is Credit Card Receivables Financing?
Credit card receivables financing is a form of accounts receivable factoring, utilizing a merchant’s cash flow from credit card sales or banking accounts cash flows. The business gets the cash in advance. A system is set up to repay the cash advance through withholding from credit card transactions – refunding a portion of the cash advance every time a customer makes a purchase. Does your business qualify for credit card receivables financing? Do your customers use credit cards to pay for their purchases? Have you been in business...
read moreStart a Business with Bad Credit
On a lark, I Googled “Start a Business with Bad Credit.” To my surprise, 69 million results came up! This is a popular subject as many people share the dream of being their boss, but the Great Recession has bruised many would-be entrepreneur’s credits. Here are steps you can take to become a business owner: The first thing to consider, treat what little capital you have as the most precious commodity. Treasure your “treasure” and only give it up begrudgingly. Don’t overspend on nonessential items. If your...
read moreThe 5 Reasons Every Small Business Are Extending Credit
There is much debate over whether or not extending net terms to customers is a smart practice for small businesses. This involves risk. Especially with providing a service or product and trusting the customer to pay you back at a later, specific date. Some say it is harder for small businesses to monitor their credit department, as they don’t have the tools like Fortune 500 companies. Thanks to emerging technologies, handling their customers’ payments is easier than ever. The truth remains that, if your business model supports the...
read more