Fundera

MARCH 14, 2019

7 Steps to Eliminate Small Business Debt. Assess and rework your budget. Reduce expenses. Temporarily pay with cash (if you can). Communicate with creditors and lenders. Create a “target debt” or “stack” repayment plan. Increase your income. Hire a debt-restructuring firm. There may be no worse feeling than being crushed by debt of any kind. That feeling is heightened when you’re dealing with business debt, and you’re facing the possibility of losing your business altogether.

Small Businesses 92

Small Businesses Bankruptcy Credit and Collections Debt Collections 92

Fundera

MARCH 9, 2019

7 Reasons to Incorporate Your Business. Easier to raise capital. Allows you to issue stock options. Protects your personal assets. Easier to sell and transition. Saves on taxes. Easier to open a business bank account or credit card. Enjoy added credibility with customers. Most small business owners start out as sole proprietors. As a sole proprietor, there isn’t much distinction between you and your business.

Deductions 81

Deductions Credit and Collections Small Businesses 81

Fundera

MARCH 9, 2019

A business budget template is one of the most important tools you can use to run your small business. Unfortunately, many small business owners skip this vital business management step. There are a lot of misconceptions about budgeting. It seems difficult and time-consuming. But with a good business budget template, the process can be much less daunting.

Small Businesses 75

Small Businesses 75

Fundera

MARCH 11, 2019

How Large of a Business Loan Can You Get? How much of a business loan you can get is primarily a function of your business’s annual gross sales, existing debt, and creditworthiness. Most lenders won’t lend more than 10% to 30% of a business’s annual revenue. Your company should be cash flow positive after accounting for all debt payments.

Credit Scoring 75

Credit Scoring Credit and Collections Small Businesses Credit Card Payments 75

Fundera

MARCH 10, 2019

Are SBA Loans Personally Guaranteed? SBA loans require a personal guarantee from anyone who owns 20% or more of a business. When you sign a personal guarantee, you authorize the lender to seize any of your personal assets to repay the loan, if business assets aren’t sufficient to cover loan payments. Small Business Administration loans, or SBA loans , are some of the most best loan products out there for small business owners.

Credit and Collections 74

Credit and Collections Default Business Bankruptcy Small Businesses 74

Fundera

MARCH 10, 2019

The 3 Main Types of Intellectual Property Protection. Trademarks – Used to protect brand logos, company names, phrases, and symbols. Patents – Used to protect manufacturing or design processes. Copyrights – Used to protect original works, such as art, dances, or literature. Most entrepreneurs are very protective of their businesses.

Small Businesses 71

Small Businesses 71

Fundera

MARCH 11, 2019

What Is APR? APR is essentially the annual cost of borrowing. It differs from an interest rate in that it includes other fees associated with borrowing, such as origination fees and closing costs. There are multiple types of APRs, such as promotional APRs and variable and non-variable APRs. The lower the APR, the lower the cost of borrowing. Having a high credit score can help you get a low APR.

Credit Scoring 67

Credit Scoring Credit Card Companies Transactions Small Businesses 67

Fundera

MARCH 13, 2019

Amortization Table: Definition. An amortization table is a data table that details the process of paying off a business loan. Specifically, the amortization table shows how much you are paying toward the principal and how much you are paying toward interest in each scheduled payment. The amortization table is essentially a visualization of the amortization schedule.

Credit Scoring 65

Credit Scoring Small Businesses 65

Fundera

MARCH 14, 2019

How to Maximize Profit. Leverage discounts. Maximize efficiency. Burden your expenses. Manage your cash flow. Grow responsibly. Profit maximization might be the most misunderstood concept in business. After all, doesn’t it make sense to increase sales as much as you possibly can? Won’t profitability automatically come with those increased sales? It seems counterintuitive, but the answer to that is actually no.

Small Businesses 63

Small Businesses 63

Fundera

MARCH 13, 2019

QuickBooks questions—and the answers that follow them—can open up some pretty amazing features in your small business accounting software. Through face-to-face conversation with QuickBooks users—new and seasoned—we’ve compiled some common QuickBooks questions to ask—then answer. . With this article on 11 of the most common QuickBooks questions, we’ll answer the questions you have—and those you didn’t even knew you had.

Accounting Firms 62

Accounting Firms Transactions Small Businesses 62

Fundera

MARCH 9, 2019

Setting up payroll for small business seems easy, but there are a number of steps involved that growing small businesses need to be aware of. Missing one of these steps can lead to costly fines and penalties. That’s why we’ve created this easy-to-follow, nine-step guide on how to set up payroll for your small business. As you learn how to set up payroll, you should check with your accounting professional to make sure you are meeting all the requirements for your particular situation

Small Businesses 56

Small Businesses 56

Fundera

MARCH 9, 2019

How to Make a QuickBooks Journal Entry in 7 Steps. Select the + icon at the top right of the QuickBooks Online file. Navigate to Journal Entry under the Other column. Enter the transaction date in the date field. Enter the account to be debited and the account to be credited. Fill out a description as a reminder of what the transaction is. Continue adding debit and credit amounts until the entry is balanced, i.e. the difference between the debit column and the credit column is zero.

Transactions 55

Transactions 55

Fundera

MARCH 15, 2019

Looking into opening a joint bank account with a business partner is a big step. It requires a level of trust with your finances between each other. Making sure you feel the same way about money can be a tough chat. But, luckily, that just might be the hardest part about opening a joint bank account with a business partner. That’s because actually opening up the account isn’t hard at all.

Transactions 54

Transactions 54

Fundera

MARCH 14, 2019

More than one entrepreneur has found themselves wondering if there are Quicken small business loans. Quicken is one of the biggest names in lending, and s ince they seem to offer fast and dependable service, Quicken Loans sounds like the perfect place to go to request funding for your new or established small business. . That said, it may not be immediately clear whether a Quicken small business loan is even an option—let alone whether going this route for funding would be a good choice for your

Small Businesses 52

Small Businesses Credit and Collections Credit Scoring Default 52

Fundera

MARCH 9, 2019

How Is a FICO Score Calculated? Though Fair, Isaac and Company (FICO) is pretty secretive about how exactly a FICO score is calculated, there are certain criteria that they look at including payment history (35%), amount of debt owed (30%), length of credit history (15%), types of credit (10%), and new credit (10%). The higher your FICO number, the more likely you’ll be to qualify for low-interest credit.

Credit Scoring 52

Credit Scoring Default Transactions 52

Fundera

MARCH 12, 2019

Life as a trucker isn’t a walk in the park. You spend long hours on the road, days on end behind the wheel, and don’t always have the luxury of driving your rig over local roads just to hit a bank branch when you need to withdraw or deposit cash. The last thing you want to find out is that your current banking provider doesn’t have a local branch at the town you’re in, leaving you to pay outrageous ATM fees.

Credit Unions 45

Credit Unions Transactions Small Businesses 45

Fundera

MARCH 15, 2019

Securing business financing from a bank is no easy feat. But that’s often an even taller order for businesses that operate in low-income areas, as traditional lending institutions often consider these businesses too high-risk to take on debt at an affordable interest rate. Luckily, platforms like Lendistry, a California-based CDFI (Community Development Financial Institution), make business loans more accessible to just such organizations. .

Credit Scoring 40

Credit Scoring Credit Unions Small Businesses Bankruptcy 40

Fundera

MARCH 13, 2019

One of the best ways to protect your company is by buying the right small business insurance. Business insurance protects your company from unexpected situations, such as natural disasters, theft, and product defects. Without insurance, small business owners might lose profits, or even worse, be forced to shutter their doors. Chubb is a well-known name in the insurance space.

Small Businesses 40

Small Businesses Insurance Companies 40

Fundera

MARCH 13, 2019

Leasing is a cost-effective way to acquire the use of a fixed asset without purchasing the asset outright. But you must be cautious before entering into a lease agreement. Not understanding the differences between a capital lease and an operating lease can be costly. You might be confused about the differences between a capital lease vs. an operating lease.

Deductions 40

Deductions 40

Fundera

MARCH 12, 2019

If you’re a new user, it’s easy to become overwhelmed by all of the QuickBooks terms that you will encounter throughout the platform. Especially if you’re also new to the world of accounting. But don’t worry. Below is a list of QuickBooks definitions that every user should know to the most commonly used terms. It’s worth being familiar with these Quickbooks definitions when talking to your accountant or QuickBooks tech support.

Dashboards 40

Dashboards Accounting Firms Transactions Small Businesses 40

Fundera

MARCH 12, 2019

How Much Are PayPal Fees? There are three costs associated with PayPal merchant services: software costs, hardware costs, and payment processing fees. Most PayPal software is free to use, although there are monthly fees for providing a self-hosted checkout experience. In terms of hardware, PayPal sells a variety of mobile credit card readers ranging in price from $14.99 to $99.99.

Transactions 40

Transactions Credit Card Payments Dashboards Small Businesses 40

Fundera

MARCH 12, 2019

If you’re a new user, it’s easy to become overwhelmed by all of the QuickBooks terms that you will encounter throughout the platform. Especially if you’re also new to the world of accounting. But don’t worry. Below is a list of QuickBooks definitions that every user should know to the most commonly used terms. It’s worth being familiar with these Quickbooks definitions when talking to your accountant or QuickBooks tech support.

Dashboards 40

Dashboards Accounting Firms Transactions Small Businesses 40

Fundera

MARCH 11, 2019

Stripe vs. Braintree: Choosing the Best Online Payment Option. If you’re looking for a flexible online payment platform for your developers, go with Braintree. If you want to conduct more international commerce, go with Stripe. When you’re looking to accept payments online as part of your ecommerce or small business website, you’ll have a series of decisions to make along the way.

Transactions 40

Transactions Credit and Collections Small Businesses Shared Service 40

Fundera

MARCH 14, 2019

Every small business owner wants to cut costs and save money for their small business. Why spend your hard-earned cash when you don’t need to? But if you’ve ever sat down and tried to cross off items on your list of expenses, you know that cutting costs is easier said than done. Looking for tips on how you can cut costs in your small business?

Small Businesses 99

Small Businesses 99

Fundera

MARCH 11, 2019

16 Legal Requirements for Starting a Small Business. Designate the proper business entity. Check which licenses, permits, and registrations your business needs. Make sure you are paying proper business taxes. Do proper bookkeeping. Get a founders agreement in writing. Set a vesting schedule for all founders and early employees. Get your employer identification number (EIN).

Small Businesses 75

Small Businesses Transactions 75

Fundera

MARCH 14, 2019

The thought of business tax deadlines might cause some small business owners to run and hide. Unless you’re in accounting or finance, filing small business taxes probably isn’t something that you look forward to. However, keeping on top of what you need to file—and when—will save you from costly IRS penalties and back taxes. We’ll take a look at 10 essential business tax deadlines to save in your calendar.

Electronic Funds Transfer 81

Electronic Funds Transfer Small Businesses Deductions 81

Fundera

MARCH 14, 2019

If you have employees—whether full-time, part-time, hourly, or contract—then processing payroll is one of your most important tasks. You also know that payroll requires much more than tracking your employees’ time and handing them a check, and that it’s crucial that you handle this process accurately , as mishandling payroll taxes can result in fees (and no one wants to get into hot water with the IRS).

Brokerages 50

Brokerages Deductions Small Businesses Dashboards 50

Fundera

MARCH 10, 2019

There’s something strangely exciting about setting up a business bank account as a new business. It’s cool to have something with your company’s name on it—it feels totally legitimate. As you go through the process, though, you could run into a few stumbling blocks with the details, with questions including Can I open a business bank account without an EIN ?

Credit and Collections 58

Credit and Collections 58

Fundera

MARCH 12, 2019

As a small business owner, have you ever thought about how inclusive your workplace is? Although it can be hard to measure, cultivating an inclusive workplace is a proven way to increase your business’s profitability and performance. According to a study by McKinsey, racially and ethnically diverse companies are 35% more likely to financially outperform homogeneous ones.

Small Businesses 74

Small Businesses 74

Fundera

MARCH 15, 2019

A business model is an outline of how a company plans to make money with its product and customer base in a specific market. At its core, it explains what product or service a company will sell, how it intends to market that product or service, what kind of expenses it will face, and how it expects to turn a profit. Because there are so many types of businesses out there, business models are constantly changing; there is no one-size-fits-all model that can be applied to every business.

Retail Companies 81

Retail Companies 81