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What is invoice factoring? Invoice factoring is a popular financing solution that allows businesses that offer products and services to other organizations to sell their accounts receivable to a third-party company, known as a factor, at a discounted rate and receive a large percentage of those amounts immediately. The solution is appealing to small businesses […]

Different credit report – same concept You know the importance of your personal credit score, but do you know that your business credit score is equally relevant to your business’s ability to conduct business with third-party organizations?   A business credit score, also called a commercial credit score, performs a function similar for your business than

A Core Financial Report The Balance Sheet is one of the three core financial statements of a small or medium-sized business, along with the Profit and Loss Statement and the Cash Flow statement. It reports a company’s assets, liabilities, and owners/shareholders’ equity at a point in time. A standard balance sheet is considered to have

Today, an online presence is a must for small businesses, so we review the best website development platform for small business owners. Defining the key criteria for small businesses Let’s first define the criteria that we applied to identify our platform of choice: Ease of Use: The platform’s ease of use, even for a neophyte.

A Core Financial Report The Profit and Loss (P&L) statement is a financial report that summarizes the revenues, costs, and expenses incurred by a small business during a specified period. P&L statements are often called Income Statements, Earning Statements, or Statements of Operations. These reports indicate how businesses convert revenues into Net Income and whether

Commercial insurance protects your small business from unforeseen events. Many firms have specific risks from which they need protection, but nearly all small businesses need protection from general liability, property damage, and income loss. If any adverse event negatively impacted your business assets, or if you were slapped with a lawsuit and not covered by

Small business definition and statistics What is a small business, and how many of them are there in the United States? According to the US Small Business Administration Office of Advocacy’s 2021 Small Business Profile report, there were 32.5 million small businesses in the US. This report defined small businesses as firms with fewer than

Loan Broker or Direct Lender? This is our first post here, so we wanted to share why we chose to start this venture as a small business broker rather than a direct lender. Direct lenders typically secure wholesale lines of credit from third-party lenders, agree to covenants – including the types of financings, the maximum and