Pick the Right Bank for Your Business
With the recent bank failures many business owners are reexamining their banking relationship. Having a supportive bank on your team is always important. Even more so now in light of a slowing economy and the worry of some banks getting caught in an interest rate squeeze. Bigger is not always Better It may be tempting […]
Prospect With Factoring Finance
This economy is presenting more and more opportunities for small and midsized businesses (SMB) to win new contracts with large commercial enterprises. Facing employment and supply chain challenges, big companies are turning to SMB for everything from staffing needs to inventory and more. This good news for SMB comes with it owns challenge. Fulfilling new […]
Overlooked Ways Businesses Can Reduce Costs
With inflation, supply chain issues and hiring problems, it’s no secret that times are tough for many businesses. Business owners that are struggling to maintain a positive cash flow are constantly searching for way to reduce costs and stretch every dollar. These tips will help business owners run an efficient company in both challenging and […]
Business Tip: Perfect Your Elevator Pitch
Whether you’re describing your business to strangers or trying to land a new customer its important to have a clear, compelling elevator pitch prepared. Some business owners will default to describing who, what, where when and why of their companies. This can work when talking with industry insiders who understand the jargon, but it is […]
Online Business Lenders – Borrowers Beware
Online Business Lenders – Borrowers Beware When it comes to online business lenders, there are good ones and not-so-good ones, and it’s not always easy to tell the difference. Business owners have more options available for financing today than at any other time in the past. In addition to traditional lending avenues such as SBA […]
Don’t Miss the Signals That Your Business Needs Revamping
Whether you’re a production or a service company, the heartbeat of your company is the financial management. Money comes in and goes out quickly, it’s critical to ensure that all transactions are being recorded correctly. As your business grows, your customer base and your supply chain will become more complex. Keeping your financial records current […]
Factoring for Cash Flow Management
Businesses with slow paying customer often sell their invoices to a factor to avoid a cash-flow crisis. The factor buys the invoices, advancing 85%-90% of the invoice amount, after checking the credit-worthiness of the billed customer. When the invoice is paid, the factor remits the balance, minus a nominal factoring fee. Business that utilize factoring […]
Don’t Miss an Opportunity
The economy is reopening. The employment numbers are improving, and business owners are seeing opportunities that have been delayed by pandemic. All of this is good news. At the same time, banks have their hands full dealing with PPP loans and their underwriting has gotten stricter. A case in point, we had factored a specialty […]
Could Your Business be a Target of Financial Fraud?
Cyber attacks against small businesses are sophisticated schemes perpetrated by tech savvy criminals. Criminals use legitimate looking emails, malicious software and social media to obtain login credentials to businesses’ accounts. From there they are able to transfer funds from the accounts and steal private information. It’s more than identity theft it’s a fraud referred to […]
Getting your Financial House in Order for 2021
Getting your financial house in order is not as hard as you may think. With some careful planning, you too can be prepared for the best of times and the worst of times. Open bills the day they arrive. This may seem like common sense but ignoring them won’t change anything or make them go […]
