Fundera

MARCH 5, 2019

What’s the SBA Loan Timeline? The SBA loan timeline is about 60 to 90 days from initial application to release of funds. The exact timeline depends on the size of the loan, the length of the term, the purpose of the loan, and the experience of the lender. Gathering documentation is the most time-intensive part of the SBA loan process. If you’re a small business owner in search of financing, odds are that you’re hoping to get approved for a loan sooner rather than later.

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GoCardless

MARCH 7, 2019

It starts with awareness, but requires action.

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Fundera

MARCH 5, 2019

Recurring Payments Definition. Recurring payments are payments made to your small business in accordance with a predetermined schedule that you create. These types of payments are processed electronically, typically from a customer’s credit or debit card. Depending on who you use as your merchant or payment service provider, you can expect a special fee for setting up and processing recurring payments.

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Fundera

MARCH 3, 2019

Delinquent Loan Definition. A loan becomes delinquent as soon as you’re late on a payment, by even one day. If you miss several payments or can’t make payments for an extended time (usually 90 to 120 days), the lender will place the loan in default and can start collection proceedings against you. Both delinquencies and defaults damage your credit. The moments after you closed on your business loan are probably filled with memories of relief that the loan application process was over, and happin

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Default Collector Credit and Collections Credit Scoring 59

Fundera

MARCH 8, 2019

If you’re new to the world of small business funding , you might be disappointed to learn that no credit check financing on equipment is not a possibility. Virtually no lender will lend to a business without pulling the owner’s (or the business’s) credit score (At least, no lender you should work with ). But just because there aren’t no credit check equipment financing options, doesn’t mean you’re totally out of luck when it comes to finding the capital you need to purchase equipment and grow yo

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Credit Scoring Small Businesses 55

Fundera

MARCH 3, 2019

When setting up your small business, picking the right bank account is just as important as making sure you’ve got licenses and permits, and just as crucial as having a solid business plan to help your company grow. There are a ton of great business bank account options out there, though, which can make it difficult to be confident that you’re picking the right one.

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Fundera

MARCH 2, 2019

Networking. Sure, it can create awkward moments that harken back to grade-school days. But, for business owners particularly, it can also be vital to your professional success. Hosting a networking event can benefit your small businesses in a number of ways. Below, we’re highlighting just a few of the reasons why it’s worth your time—and how you can ensure your networking event is a success.

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Fundera

MARCH 6, 2019

Congratulations on opening your retail store! Whether you have a traditional brick-and-mortar operation, or you’re going all in with an online store—or, more likely than not, a combo of the two—retail lends itself especially well to scaling and delegation. This allows you, the business owner, to enjoy the profits from your business without having to be entrenched in the day-to-day operations of the store.

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Fundera

MARCH 4, 2019

What Is Product Liability Insurance? Product liability insurance covers the cost of defending claims of personal injury or property damage that are caused by defective products. Any business that manufacturers, designs, alters, or sells products should purchase product liability insurance. The cost depends on the type of product and your position in the supply chain.

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Fundera

MARCH 4, 2019

As a small business owner, invoicing is one of the most important parts of your business, albeit the most time-intensive and frustrating parts of your work day. But the sooner your invoices go out, the faster you get paid. That makes it imperative that small business owners and entrepreneurs figure out a way to generate, send, and track invoices that takes the stress and hassle out of the process.

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Fundera

MARCH 7, 2019

Starting a laundromat can be a great business opportunity. After all, people always need clean clothes, and in some big cities, few apartments have washers and dryers (New York, we’re looking at you!). If your area is similar, you could carve out a niche in your neighborhood with a laundromat. You’ll be providing a much-needed service and will avail yourself to plenty of repeat customers in return.

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Fundera

MARCH 7, 2019

What Is PrimePay Payroll? PrimePay Payroll is an online payroll service designed specifically for small businesses. The cost of the software is determined by the frequency with which you run payroll and the number of employees you are cutting checks to. PrimePay Payroll offers all customers several additional features outside of payroll processing, such as HR management capabilities and time tracking tools.

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Fundera

MARCH 2, 2019

Loan Default Definition. Loan default occurs when a borrower breaches a material term of their loan agreement. The most common reason for a loan default is that the borrower stops making loan payments. When loan default occurs, the lender can accelerate the remaining balance or take legal action against the borrower. The borrower’s credit history will be negatively impacted.

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Fundera

MARCH 6, 2019

The Most Important Business Finance Terms and Definitions. Accounts Payable. Accounts Receivable. Asset. Balance Sheet. Cash Flow. Fixed Asset. Income Statement. Liability. Profit & Loss Statement. Annual Percentage Rate. Collateral. Loan-to-Value. Debt-Service Coverage Ratio. Lien. Personal Guarantee. Financial Statements. Debt Consolidation. Gross Profit.

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Fundera

MARCH 7, 2019

If you own a business—or are thinking about starting one—you’re in excellent company: there are 28.8 million small businesses in the United States, according to the U.S. Small Business Administration , and they have 56.8 million employees. Small businesses (defined as businesses with fewer than 500 employees) account for 99.7% of all business in the US.

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Fundera

MARCH 6, 2019

What Is a Business Tax ID Number? A business tax ID number, also called an employer identification number (EIN) or federal tax ID, is a unique nine-digit number that identifies your business with the IRS. Owners of most types of business entities need a business tax ID number to file taxes, open a business bank account, obtain a business license, or apply for a business loan.

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Fundera

MARCH 8, 2019

What Is Commercial Property Insurance? Commercial property insurance protects buildings, fixtures, equipment, and other business property from damage, loss, and theft. Property insurance is often coupled with liability insurance in a business owner’s policy (BOP), but can also be sold separately. Your small business’s assets are everything. Real estate, equipment, inventory, customer data, and everything else that your business owns isn’t just important for your business—it is your business.

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Fundera

MARCH 8, 2019

Square POS and Shopify POS are two of the most powerful platforms on the market. If you’re shopping for a new POS system for your small business, both options are worthy of consideration. But how do you know which one to choose? Good question. Let’s establish a baseline for what a small business owner should want in a POS system. Once we have a framework, we’ll pit Shopify vs.

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Fundera

MARCH 6, 2019

SBA vs. Conventional Loan. The main difference between an SBA loan and a conventional loan is that an SBA loan is partially guaranteed by the government. Because of this, SBA loans typically have higher amounts, lower interest rates, and longer repayment terms. Applying for both an SBA loan and a conventional business loan is a lengthy and cumbersome process, but the conventional business loan process is probably a little less involved.

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Fundera

MARCH 6, 2019

With the payment industry ever changing and developing, it’s often hard to differentiate one provider from another. Since their founding in 2014, Fattmerchant has stood out with their subscription-based pricing and 0% markup. Supporting a variety of different types of businesses, Fattmerchant has powered more than $1 billion in transactions to date and their customer base has continued to grow.

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Fundera

MARCH 5, 2019

As a realtor, your major concern is helping people find their dream homes. But as a business owner, it’s likely that your major concern (or at least one of them) is securing financing for your real estate business. You might be asking yourself: Can realtors get small business loans? In short, yes! Realtors are small business owners just like any other, which means that business loans for real estate agents are of the same ilk as business loans for restaurant owners, dental practice owners, auto

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Fundera

MARCH 6, 2019

Service-based businesses need a reliable appointment scheduling system to keep their schedules organized and their clients happy. But luckily, you don’t need to book your sessions by hand—with a good appointment scheduling software , you can outsource and automate this tricky task, along with other essential business management tasks. And even more luckily for businesses in the fitness, integrative health, and beauty industries, there’s one such scheduling software designed expressly for your ne

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Fundera

MARCH 4, 2019

If you are located in the Pacific Northwest and are in need of a small business loan , one lending partner you might be considering is Banner Bank. With over 200 locations in Washington, Oregon, California, and Idaho, and a variety of different financing options, Banner Bank offers small business owners convenience and flexibility. Furthermore, Banner Bank provides a suite of other banking services to small business owners, making it a one-stop-shop solution.

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