Whether acquiring an existing business or buying out partners from your current one, a Small Business Administration (SBA) 7(a) loan could be an excellent option, offering competitive interest rates and longer repayment terms to qualifying buyers. However, while the SBA guarantees a significant portion of the loan, collateral is usually required of the borrower. Here…
Have you been considering financing to purchase a business or perhaps to grow your present one? A lot goes into securing a Small Business Administration (SBA) loan. However, approved borrowers can get their financing faster by taking a few proactive steps: Have your historical and current financials ready – along with your seller’s – and…
Most of us use a credit or debit card multiple times a day for business or personal reasons. That makes it vitally important to be aware of what “skimming” is and how you can protect yourself from fraud. Card skimmers gather data from your card’s magnetic strip when you insert or swipe it at point-of-purchase…
Platform banking: What it is: banks integrating services from other providers, primarily fintechs, in order to offer the bank’s customers a broader (or more specialized) range of financial services. How it works: depending on the type of set-up, the fintech’s services are usually fully integrated into the bank’s app/webpage via application programming interface (API), a connection…
It wasn’t all that long ago that new (or fairly new) businesses had few options when it came to being seen by potential customers. Direct mail was, and remains, an option, but the return on investment has historically been frustrating. And, of course, there was traditional media: newspapers, magazines, tv and radio, but relatively few…
Open banking: What it is: non-banks can access data from their customers’ bank accounts to trigger payments from within an app or website, or to provide aggregated account insights. How it works: Open banking providers connect to the bank’s system via an application programming interface (API) platform, which is a connection between computers or computer programs. It…
As the fintech era brings significant change to the financial industry, it seems that even corporate insiders are constantly being exposed to new ideas and terms – and just as often left on their own to make sense of them. For example, many businesses are just now coming to fully understand and utilize “Banking as…
Do you have a big idea? Or, better yet, THE big idea? It just might be the way to kick off your best year ever. Maybe it’s a brand-new product or service that you’re certain your target market needs and wants. Perhaps it’s a line extension that will further enhance your present offerings. Whatever it…
Thanksgiving is coming soon. And that means the holidays are rapidly bearing down on us. Before you get overwhelmed, think about this: the best way to eliminate the stress associated with the season is to get an early start. And now is the ideal time. When you want to make the stretch from Thanksgiving to…
When you’re a business owner, meetings can be either the most valuable part of your day – or a complete waste of time that keeps you from more important tasks. Well-run meetings provide an opportunity to collaborate and learn from one another, but when they start to feel overwhelming or pointless, it can negatively impact…
