Business Strategies for Cash Flow
Strategies to turnaround a struggling business with cash flow problems has many sides. Benefits, payroll and other expenses directly related to the number of people working for a company may be one of the largest expenses. There may be areas where a company can cut cost by eliminating positions that are no longer necessary and […]
How To Deal With Slow Paying Customers
If a business owner offers their customers terms at some point, they will have to deal with a customer who does not pay within the stated terms. Slow paying customers put a strain on the company’s cash flow and can jeopardize future projects. The key to collecting past due invoices is to be pro-active as […]
Lessons Learned
A survey by researchers at Washington University in St. Louis found businesses with a previous lending relationship enjoyed a 57%-point advantage in obtaining a PPP loan, with 75% of “relationship-borrowers” getting a loan compared with only 18% of “non-relationship” companies succeeding in getting a PPP loan. The study further found that a personal connection between […]
Invoice Factoring for Startups
Startups bring us some of our most creative innovations. Being a startup involves a lot of risk, time constraints, staffing demands, and challenges obtaining funding. Invoice factoring can help with funding by speeding up cash flow without the long wait for an invoice to pay. By taking advantage of factoring a startup can ensure they […]
Life After the Paycheck Protection Program
The good news is the government is offering another round of paycheck protection program (PPP) funding for small business. This round is slightly more restrictive as to who can receive it and who qualify for forgiveness. The bad news is that businesses looking for working capital or expansion loans will find their bank totally consumed […]
10 Tips for Running a Small Business
Running a small business in today’s rapidly changing marketplace takes skill, determination, and the ability to adapt to new challenges. Here are 10 tips for any business that wants to succeed. 1. Keep Score: It’s amazing how few small businesses have any idea of the daily, weekly, and monthly numbers and financial trends in the […]
I’ve Been Turned Down by the Bank Now What?
Having enough cash on hand to operate and grow a business has always been challenging. This year has made the search for additional money even more difficult. Earlier this year banks were entirely consumed with PPP loans. With the uncertain economy banks have become more cautious. A recent survey showed that more companies have been […]
Don’t Lose Money to Unpaid Invoices
Business owners depend on their clients paying their invoices in a timely manner. Business owners can be forced to delay new projects or worst when customers are slow to pay. But what can a business owner do when a client doesn’t respond to payment reminders, or simply refuses to pay? STEPS TO COLLECT LATE INVOICES […]
Four Misunderstandings About Factoring Companies
Applications for business Employer Identification Numbers (EINs) totaled over 1.5 million for the third quarter of 2020. New businesses are being formed at the fastest pace in more than a decade. There are good reasons to start a business now; interest rates are low, there are lots of good workers who’ve been let go from […]
Five Invoice Factoring Questions to Ask Before You Sign Up
It is easy to be overwhelmed when looking for a factoring company. There are so many flashing ads and confusing buzzwords a businessowner can be quickly led down a path that seems right but ends up costing dearly. Here are the top 5 questions we get about accounts receivable factoring. How Do Factoring Rates Compare […]
