Merchant services and solutions for businesses. Stay informed, get quotes, paypal, square, viperpay and much more. Specifically for Utah based retailers and other businesses. Complete merchant solutions for all your credit and debit card processing needs. Lowest rates and fees guaranteed.

2019-10-31 19:30:00

At Do-Cut, Service is a profession, not a sideline

Posted: Updated:

Address: 6442 S Raccoon Rd Suite A. Canfield, Ohio 44406
Phones: 330-953-3423

Do-Cut Sales and Service was founded in Warren, Ohio in 1947. In its humble beginning, the part-time business, “Do-Cut Sharpening,” sharpened scissors, knives, saws and hand reel mowers. Power mowers became popular and Do-Cut entered the outdoor power equipment business. Steady growth and expansion, coupled with a dedicated work force propelled Do-Cut to the forefront of the outdoor power equipment industry. Today Do-Cut operates two retail stores in Warren and Canfield, Ohio which employ 50 people.The Canfield location features a complete True Value hardware store along with an impressive display of Outdoor Power Equipment. Do-Cut also produces a catalog, “Power Equipment Warehouse” for lawn care professionals which is distributed throughout the United States. The Warren location receives and processes catalog orders which are shipped from both Do-Cut stores and other warehouses throughout the country. Both retail locations are neat, clean and all equipment is clearly priced to make shopping a pleasant experience for both men and women. Both stores feature expert parts and service departments as well as on-site repairs performed by certified master service technicians

The Canfield location features a complete True Value hardware store along with an impressive display of Outdoor Power Equipment. Do-Cut also produces a catalog, “Power Equipment Warehouse” for lawn care professionals which is distributed throughout the United States. The Warren location receives and processes catalog orders which are shipped from both Do-Cut stores and other warehouses throughout the country. Both retail locations are neat, clean and all equipment is clearly priced to make shopping a pleasant experience for both men and women. Both stores feature expert parts and service departments as well as on-site repairs performed by certified master service technicians

Customers find our professional, no pressure, non-commissioned sales staff courteous, knowledgeable and eager to help in choosing the proper outdoor power equipment for their needs. Homeowners or professionals will find the right package at the lowest price with easy, flexible financing. Do-Cut strives to sell American made products whenever possible and most outdoor power equipment we sell is manufactured in the United States. Do-Cut works hard to keep Americans working. Visit or call either location and let our friendly staff help you in selecting the proper outdoor power equipment, parts or service to fill your needs.

At Do-Cut, Service is a profession, not a sideline. The big “S” in our Sales is Service. Thank you for your interest in our company. We look forward to serving your outdoor power equipment needs now and in the future.



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2019-10-31 19:30:00

Accepting mobile credit card payments is almost a must for any small business. Clients expect to be able to pay via credit card when they are purchasing a product or service. More importantly they expect for it to be an easy and trustworthy transaction.

Small businesses can increase customer satisfaction by adding to their payment process a mobile app that accepts credit cards. The top three well-known and secure platforms that provide this are PayPalSquare and Intuit. It can be trying as a small business owner, especially those that aren’t as into the finance world, to decide which platform to use.

Financial expert, Audrey Blackburn of Blackburn Consulting, shares some insight into mobile credit card payment apps. Additionally, as a small business owner herself she understands the complexities of running a small business and shares she even uses both PayPal and Intuit in her business.

PayPal
Whether purchasing items online or getting a payment, PayPal has become a mainstream name in online payments. Blackburn shares two great reasons small businesses will want to use PayPal. First of all, many people have a Paypal account already so are familiar and comfortable with the platform. Secondly, she states, “You can have business owners pay in full for anything over $99, and they can receive 6 months no payments, no interest through Paypal credit [if approved] and they can pay back the amount over time. This is very enticing to small business owners who may need some flexibility in their cash flow.”

Square 
One of the biggest advantages of Square is it being so common place now at businesses that almost everyone trusts it and knows how to use it. Small business owners will love that when they sign up, they will receive a free reader. Plus, it can be plugged into mobile devices, making it easy to accept payments anywhere. Customers will love that it’s easy not just in processing a payment, but once a person uses Square with their credit card, it will automatically remember an email address associated with that card, therefore making future purchases even easier. A receipt would conveniently go right to their email automatically.

Intuit
For those small businesses that use QuickBooks, especially the online version, Intuit will be the easiest way to accept mobile credit card payments. Blackburn elaborates that, “The invoice is sent through QuickBooks Online and the client clicks ‘pay now’ and can pay you with Paypal, Visa, Mastercard, Amex Ex, Discover or through a bank transfer. Bank transfers are the cheapest as a merchant customer. Clients pay faster since the one click option is in their invoice.”



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2019-10-31 20:05:20


Small Business Saturday – Delmar Loop. Thursday October 31, 2019. Share This: Share To Facebook Share To Twitter Share Via Email · View All …



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2019-10-31 20:11:40

A new survey from J.D. Power suggests small businesses have begun to embrace mobile banking and are satisfied with the service.

Released on Thursday (Oct. 31), the J.D. Power 2019 U.S. Small Business Banking Satisfaction Survey found an 8 percent year-over-year increase in the percentage of small businesses that use their bank’s mobile banking app (61 percent in 2019, compared to 53 percent in 2018). J.D. Power highlighted that not only has mobile banking adoption increased among small business customers, but so has satisfaction of that mobile experience.

“Bank investments in mobile offerings are starting to pay off in the form of higher satisfaction scores as a critical mass of small business customers adopts the technology,” said J.D. Power Banking Intelligence Vice President Bob Neuhaus in a statement. “This has been a major challenge for banks for many years as they’ve tried to balance the high-touch customer service needs of the small business banking segment with the high cost of providing hands-on account management. Now, for the first time, we’re starting to see well-designed mobile banking offerings contribute to improved customer relationship management.”

Assessing small business satisfaction on a 1,000 point scale, J.D. Power’s research found a 20 percent year-on-year increase in satisfaction ratings across all small business banking experience aspects analyzed. About two-thirds of small businesses that use their bank’s mobile app said they “definitely will” use their bank for another product or service, compared to 53 percent among small to medium-sided businesses (SMBs) that don’t currently use mobile banking.

According to the survey, small business mobile banking adoption is now at a higher rate than it is in the retail banking sector.

In its assessment of individual financial institutions, J.D. Power ranked Huntington best in the Midwest, Capital One best in the Northeast, TD Bank best in the South, and Chase best in the West. It’s unclear whether these rankings are for mobile small business banking offerings, or for small business banking service overall.

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Our data and analytics team has developed a number of creative methodologies and frameworks that measure and benchmark the innovation that’s reshaping the payments and commerce ecosystem. In this month’s Digital Fraud Report, Nathan Garnett, general counsel of P2P shopping marketplace OfferUp, explains how combining user ID verification badges, safety tips and machine learning-based fraud detection tools is making that hunt less fruitful for the scammers and safer for deal hunters.





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2019-10-31 20:13:36

logo for pbs distribution software for small business



How the 2018 Wayfair Decision Affects Distributors

Hello again,

This post is for distributors who are vetting a new warehouse management system. We hope you find it helpful.

Business has gotten more and more challenging for the small to medium sized distributor. The complexity of the taxation and other regulatory requirements that are imposed by all levels of government on business amount to a full time job to manage.

Today lawmakers at all levels assume that technology will provide the solution to any crazy tax or regulation that they can dream up.

Of course, none of them have ever actually tried to operate a business. They are mostly lawyers with no idea of the cost and complexity of compliance that they create and you, the business owner, must bear.

Sales and Use Tax for Remote Sellers

In particular, with the changes that the Wayfair Decision of 2018 made to the original Quill Decision, US states have changed and are continuing to change their sales tax filing regulations with regard to Remote Sellers, which many distributors are.

Keeping track of the changes is intricate and time-consuming work, given that many states are not participating in any effort to be consistent with other states’ tax standards.

But, even if the salary of a new employee were in the budget, most owner/managers would not spend the money on a regulatory compliance clerk. Supporting growth is the goal for new hires.

So, what’s the alternative? Distribution software for small business that helps owners and managers track and control Sales and Use tax compliance. Distribution software that a small to mid-size distributor can afford.

Passport Software

Sales and Use tax is not likely to go away, at least not anytime soon. You as a small business owner have achieved growth and success because you do a great job of building a team and solving problems. With the right distribution software, Wayfair Sales and use tax filing and reporting regulations are just another problem.

PBS™ Distribution offers flexibility, sophisticated functionality, and insightful reporting at a more affordable price.

To learn more call 800-969-7900. Or Contact Us – We are here to help.




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2019-10-31 13:07:30

Daycare businesses brought in more than $57 million in revenue last year. Though many of these providers are small businesses, it’s still possible to start a daycare business that is able to grow and scale through the years.

Daycare businesses are always in demand. Here are some steps and tips to follow while starting a daycare business of your own.



Starting a Daycare Business

Obtain the Necessary Licenses

Any business in the child care industry is going to need to meet heavy regulations. These vary by state and local community, so it’s important to familiarize yourself with the necessary permits and requirements before getting started. This site includes a resource that can point you toward the relevant rules for your location, so you can learn how to start a daycare business in your specific area. These might include things like having a building with a specific square footage for every child, employee training and location inspections.

Create a Business Plan

Your daycare business plan should include an overview of the child care industry in your area, your company’s mission statement, financial projections and marketing plans. Find a template online to get started and make adjustments as you determine the details of your new daycare business.

Find a Niche & Selling Point

Some daycare businesses offer general care to a wide array of kids. Others focus on a specific target market, like preschool aged kids or those interested in topics like STEM. Even if you want to work with a variety of families, it’s important to determine some of the aspects that will set your center apart from others.

According to Caroline Jens, a childcare consultant and owner of Child Care Biz Help, your business should have a few key pillars that communicate your brand values. Develop these fully and then communicate them with your team so they can bring those pillars into every interaction they have with the families at your center.

Find a Suitable Location

With a daycare center, finding the right location is less about being in a central hub and more about ensuring the building meets local standards and provides enough space and safety features to accommodate your kids and team members. Of course, it’s still nice to be in a convenient location. But make sure that the space you choose is large enough for your projected enrollment and has the features you need, like a kitchen if you plan on preparing meals or multiple rooms if you want to offer services for multiple age groups.

Invest in the Right Equipment

Daycare centers often need cribs, toys, furniture and play equipment in order to provide a quality experience. Your exact purchases may vary based on your niche and target audience. But it’s always important to take safety into account and make sure items are approved for the exact age group you serve. In addition, make sure you invest in first aid kits, smoke and carbon monoxide detectors and safety training gear for your team.

Build a Team

If you want your business to actually grow and become sustainable, you need a team at your side. Come up with a list of qualities that you need for every new hire and stick to them, rather than attempting to save money by hiring inexperienced people. According to Jens, some of the qualities to look for in a team member include flexibility, the ability to influence and impact others and a true love for working in child care.

Focus on Safety Training

All of your employees should be trained in CPR, first aid, and any other certifications that are mandated by your state. You also need to make this training part of your onboarding process so you can ensure that any new employees you hire are also compliant.

Fine Tune Tuition and Enrollment Numbers

Your earnings in a daycare business come from how many kids you have enrolled at a time. It’s important to have a goal, as well as minimum and maximum numbers for each time slot throughout the day. That information, along with your financial projections from your business plan, should help you set specific tuition rates.

Market Locally

Once you have the basics set up, it’s time to bring in actual customers to your daycare center. To do this, you’ll need a marketing plan. You can advertise or put up signs or daycare business cards around town. You can focus on optimizing your small business website and online profiles for SEO. Or you can even partner with other local businesses that offer services to families to generate referrals.

Create a Growth Plan

It may also be beneficial to come up with a plan for scaling your business right from the beginning. Do you want to start a franchise program? Look into licensing? Open multiple locations with new operators? There are plenty of different methods to consider. So consider each one carefully and make adjustments based on what you know the requirements may be. For instance, if you want to simply grow your initial location, it’s important to choose a spot with room for additions. If you want to franchise, it’s important to track all of your processes so you can create guides for franchisees later on.

Image: Depositphotos.com

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2019-10-31 13:30:00

SAN FRANCISCO–(BUSINESS WIRE)–

  • San Francisco Bay Area named as the fastest-growing region in the state for small businesses
  • Four of the top five metro areas for small business growth located in Northern California
  • Inland Empire fastest-growing region for small business in Southern California

The California Rising Cities Small Business Index, launched today by Funding Circle, found that Northern California is home to eight of the state’s top 10 fastest-growing small business markets, with the San Francisco Bay Area topping the list.

The Index measures the state’s fastest-growing cities for small businesses based on multiple economic indicators—including Funding Circle lending rates and regional data on GDP, employment and income growth—and is the first in a series of state-based indices on small business growth. While traditional banks prioritize loans to larger companies, Funding Circle recognizes that small businesses fuel local economic job growth and job creation.

“California is a state of small business owners, and particularly in Northern California we see the significant, positive impact that local entrepreneurs have on our communities,” said Bernardo Martinez, Managing Director of Funding Circle USA. “Small business owners statewide have accessed almost $500 million in financing since 2015 and loan applications nearly doubled between 2015 and 2017—pointing to California as an important hub for entrepreneurial and economic growth in the US.”

The California Rising Cities Small Business Index analyzes four data sources to determine the fastest growing cities for small business including publicly available data from the US Bureau of Economic Analysis, the US Bureau of Labor Statistics and the Federal Reserve Bank of St. Louis, coupled with Funding Circle data on loan originations.

In the 2019 California Rising Small Business Cities Index:

  • The San Francisco metropolitan area takes the top spot in the Index, with a 36% average year-over-year growth rate in lending between 2015 and 2018.
  • Vallejo-Fairfield and San Jose come in second and third, respectively, with a nearly 90% and 23% average year-over-year lending growth rate.
  • Los Angeles and San Diego are also named among the top 10 fastest-growing cities for small businesses in California, and nationally, Angelinos have taken out more loans through Funding Circle’s platform than small business owners in any other city.

California Rising Small Business Cities Index – Top 10 Ranking

Region

1. San Francisco-Oakland-Fremont, CA

2. Vallejo-Fairfield, CA

3. San Jose-Sunnyvale-Santa Clara, CA

4. Stockton, CA

5. Riverside-San Bernardino-Ontario

6. Santa Rosa-Petaluma, CA

7. Los Angeles-Long Beach-Santa Ana, CA

8. Fresno, CA

9. Salinas, CA

10. Sacramento-Arden-Arcade-Roseville, CA

Funding Circle is committed to connecting small business owners with fast, affordable and transparent term loans to ensure they can accomplish their business goals. Whether funds are needed for cash flow, new equipment, new hiring or other areas of growth, no time is wasted in lending to small business owners—the backbone of the American economy. To date, US small businesses have accessed more than $2 billion in financing through the online platform.

About Funding Circle

Funding Circle (corporate.fundingcircle.com) is a global small business loans platform, connecting businesses who want to borrow with investors who want to lend, opening up the small business asset class for the first time, in the UK, US, Germany and the Netherlands. Since launching in 2010, investors across Funding Circle’s geographies — including more than 90,000 retail investors, banks, asset management companies, insurance companies, government-backed entities and funds — have facilitated fast, affordable business loans totaling $10.2 billion to 72,000 businesses globally. For more about the business, please Funding Circle US statistics here.

View source version on businesswire.com: https://www.businesswire.com/news/home/20191031005578/en/



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2019-10-31 14:03:45

As the United States and China keep working toward a trade deal, small businesses in Houston are feeling the sting from the tariffs imposed on Chinese goods by President Trump.

One such business is cookware company Chantal. Heida Thurlow founded Chantal in 1971, after moving here from Germany.

“I moved to Houston because I fell in love and I have a degree in mechanical engineering so I thought, well, it’ll be easy to get a job within the oil tool companies,” Thurlow said. “But 40 years ago it was not something that they were interested in hiring, a young female engineer.”

But Thurlow loved cooking and couldn’t find cookware that was both functional and looked nice at the same time, so she decided to make some herself.

Thurlow designs tea kettles, pots and pans, baking dishes and travel mugs and has them made in countries like Germany and Thailand.

But it’s her electric tea kettles from China that are now causing an issue for her business.

Thurlow had just ordered 30,000 of them from her Chinese manufacturer. But then the Trump administration announced new tariffs on over $100 billion worth of Chinese goods to take effect in September.

Her electric tea kettles are part of it and Thurlow said thanks to the tariffs, her business lost $60,000 with that order.

She said she won’t be able to sell that product anymore in the future.

“Our retailers, the large retailers, don’t accept price increases, so we have no intention to sell our electric tea kettles at a loss,” Thurlow said. “For what?”

And unless a trade deal is reached, all of Thurlow’s products will be subject to a 15% tariff starting Dec. 15.

Thurlow’s is not the only houseware business that’s suffering from the trade war.

Mark Adkison, vice president of International at the International Housewares Association, said of the trade group’s about 1,300 members, the vast majority has been negatively affected by the China tariffs.

“We have businesses that don’t operate on the type of margins that could sustain or just endure a 10, 15, 20 and especially a 30% tariff rate,” he said. “The margins just aren’t there, so the products become unprofitable.”

Adkison said none of the trade association’s members have had to close their business, but it could happen if the tariffs stay for a long time.

And the problem of higher costs for businesses extends past the houseware industry.

“It’s very common,” said Steve Lewis, a senior fellow at Rice University’s Baker Institute for Public Policy and an expert on China.

He said with all these tariffs on Chinese goods, companies are having to look at other countries if they want to keep paying the same for their products. And small businesses are especially affected because they don’t have the same resources as large companies, he said.

“For them it’s a lot easier to search and get the absolute lowest cost, but for small companies it’s very hard because at the end of the day it’s usually just one or two people who are searching,” Lewis said. “And they had a good relationship with China but if that relationship is gone, they’re going to have to keep searching and they may not be able to find it right away.”

As for Heida Thurlow, she said she can’t find any electric tea kettles that are made in America, so she is questioning the administration’s purpose of making American companies competitive with Chinese ones.

Ed Hirs, an economist at the University of Houston, said there are really only losers in this trade war.

“That is what international trade is about, the international trade construction that has been advanced for decades by economists is, one economy can produce goods and services more efficiently, less costly than another economy, so it makes sense for A to trade with B,” he said. “There are gains to be made.”

In the end, tariffs affect consumers, Hirs said, because retailers have no choice but to pass the cost onto them.

“The consumer, for example, hasn’t had a 25% pay increase,” he said. “The consumer is going to make choices and will opt for maybe one item or another or maybe just opt not to buy anything at all in anticipation of the tariffs coming off at some point in the next year.”

The Trump administration says it’s in talks with China to achieve a trade deal that would eliminate the tariffs.

But it’s not clear it will happen and until then, small business owners like Thurlow say it’s companies like hers and their customers who are getting stuck with the bill.





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2019-10-31 14:37:30

Google (NASDAQ: GOOGL) is pledging $10 million to help small businesses in underserved communities. The first part of the initiative involves $2 million to the American Library Association (ALA) to bolster entrepreneur centers in 10 states.

Small Business Trends spoke with Kim Spalding, Global Product Director of Small Business Ads at Google to find out more.



Google Is Helping Small Businesses

“When I talk to small business owners about what they need from Google and digital marketing, I hear the same thing,” she said. “They never have enough time for everything they need to do.”

Part of what sparked this new SMB push was Google releasing new search trends. Numbers from the data showed a three-year high in “mom and pop” ( small business) searches. As well searches using terms like “local and near me” were up 350 times over a decade ago.

Record High

The data even showed a record high last year for terms like “local shops.”

The ongoing rise in mobile shopping is another factor as more and more consumers use these devices to shop. Still Spalding points to a break in what could otherwise be a successful digital chain for SMB’s.

“Only 51% of small businesses in the US have a website. This is really a missed opportunity for them to establish a digital presence.”

Web Presence

She went on to say that even the entrepreneurs that know they need a web presence don’t always know how to get started. Google has several tools to help like Search, Google Ads and Grow with Google.

The new initiative is another arrow in that quiver. It will focus on low income and underrepresented entrepreneurs. Libraries will reach out to community organizations, test new tools to support local entrepreneurs and track how they work.

Spalding explained the link between libraries and this kind of help.

“Ninety six percent of the US population is served by libraries,” she says. “That means we get a really broad reach. What’s more, a large percentage of those libraries already have a small business center.”

Job Seekers

Here’s some information on the resources they provide for job seekers.

“ All of this makes libraries an excellent way to reach small businesses across the US and to specifically focus on low income and minority groups.”

The idea is to provide support to these small business centers with resources, information and coaching. For example, getting access to capital can be very challenging for low income entrepreneurs. The new initiative will help with that and also be helpful in sorting through all the current business trends.

Local Target Market

The Google commitment is at least partially designed to allow these entrepreneurs to connect with their local target market by leveraging the digital world. In a real way it’s all about using the Internet to help folks close to home.

Spalding offers up some numbers on how that works.

“What I find really inspiring is for every dollar you and I spend at a local business, 67 cents stays in the community,” she says.

This new push is an innovative way of helping local small businesses and especially those in low income communities. This commitment isn’t the first time Google has put some wind behind small business sales recently.

In June, Google for Small Business  went live. It’s a website that offers help for small businesses getting started.

There’s no word yet on how the rest of the $10 million will be spent.

Image: Depositphotos.com

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2019-10-31 14:48:45

Small business loans can help your business grow, but qualifying for one isn’t always easy. If you have poor credit, you might consider getting a no-credit-check business loan. But there are a few important things to know about what loan options are available and how they work.

No-Credit-Check Business Loans: What Are They?

When you think of a business loan, you might think of a traditional loan that you get through a bank. With these types of loans, lenders evaluate you and your business closely for the five C’s of credit: capacity, capital, character, collateral and conditions. These five factors give lenders a solid understanding of how responsibly you use credit on behalf of your business.

Business loans that don’t require a credit check work a little differently. With these financing options, lenders focus on other aspects of your business, aside from credit scores, to determine how likely you are to repay what you borrow. That puts most no-credit-check business loans in the alternative financing category.

“Alternative business lenders have easier applications, more lenient credit requirements and potentially faster access to funds than traditional bank loans,” says Farhan Ahmad, co-founder and CEO of financial operating platform Bento for Business.

This chart highlights some of the things lenders take into account with no-credit-check loan options:

Financing Type

What Lenders Look for

Merchant cash advance

Daily, monthly, and annual credit and debit card sales
Monthly and annual revenues
Time in business
Type of business

Inventory financing

Current value and resale value of the inventory you plan to buy
Time in business
Annual revenue

Accounts receivable financing

Value of outstanding accounts receivable
Business cash flow
Revenues and time in business

Purchase order financing

Current profit margin
Credit history of your suppliers and customers
Value of the outstanding purchase order

Equipment financing

Current and resale value of the equipment you’re purchasing
Down payment
Time in business

Payment processor working capital loans

Processing account status
Amount of payments processed through your account

Note that this is not an exhaustive list of requirements. Individual lenders may have other conditions you need to meet to qualify for a loan.

[Read: Best Small Business Loans.]

What Credit Score Is Needed for a Small Business Loan?

There’s no specific credit score you can rely on for approval with all business loans, as it will vary depending on lenders and loan types.

A loan backed by the Small Business Administration usually requires a FICO credit score of 680 or higher, but other loan options could have higher or lower requirements. “Alternative lenders will work with lower credit scores, however, they will charge higher rates to mitigate the risk,” says Brian Cairns, founder of small business consulting company ProStrategix Consulting.

Lenders typically consider both your personal and business credit scores when making lending decisions. Personal credit scores are based on your personal credit history and habits. That includes the total amount of debt owed versus your total credit limit, payment history and how often you apply for new credit.

Business credit scores, on the other hand, tend to focus primarily on payment history. The size of your company, your relationships with your vendors and your business’s industry can also influence your scores. These scores can have a different range from FICO scores, which go from 300 to 850. The Dun & Bradstreet business credit score, for instance, ranges from 1 to 100. A higher or lower score indicates how likely you are to repay a business loan.

Can I Get a Startup Business Loan With Bad Credit?

Many business financing options are designed for established businesses that have a minimum amount of operating history. If you have a new business, getting financing may be a little more challenging, but it’s not impossible.

You can get startup business loans with bad credit, but your loan options might be limited to online lenders specializing in bad credit borrowers. And they may require at least a few months in business to qualify.

The downside of these types of loans is that they’ll likely cost you more money. If you have bad credit or no credit and your business hasn’t yet proved itself profitable, your loan is much more risky than one extended to an established business with good credit. Your lender can offset that risk by charging you more fees or a higher interest rate for the loan.

[Read: Best Bad Credit Loans for Small Businesses.]

Crowdfunded Financing With No Credit Check

Crowdfunding is another option for getting business loans without a credit check. Some platforms allow people to invest in businesses around the world as a way to do good. There are others that allow businesses to offer their backers perks other than money as a thank you for funding their campaign. For example, if you run a startup that needs capital to manufacture an innovative type of reusable water bottle, you could give your backers some sample product once you have some produced.

The upside of these types of crowdfunding platforms is that bad credit may not matter for getting a loan. Instead, your ability to get financing is based on the merits of your campaign. There are two drawbacks to keep in mind, however. First, if your campaign isn’t successful and you don’t raise the full amount of money you’re seeking, you might not get any of the funds. And second, certain platforms may charge you a fee to launch a campaign.

Pros and Cons of Business Loans With No Credit Check

The chief benefit of getting a no-credit-check loan for your business is being able to access funding even if your credit might prevent you from getting a traditional business loan. And getting access to funding could give you the opportunity to build credit for your business. By making payments on time and reducing your loan balance, you can create a stronger business credit profile, which could make borrowing in the future easier.

The chief downside of no-credit-check loans is potentially higher interest rates. The higher your rate, the more the loan costs over time. But the cost of financing might be worth it if it means increasing your revenue.

Something else to keep in mind is how much you can realistically borrow when you have poor credit. If you aren’t able to get the full amount of money you need, that could make it more difficult to pursue your borrowing objectives.

Look Beyond No-Credit-Check Business Loans

Do you need good credit to get a business loan? Not necessarily. There are loans you can get with no credit check at all. You just might pay more in interest and fees.

Aside from business loans, there are other ways to fund your business. Those include:

— Personal loans for bad credit

— Business and personal lines of credit

— Secured and unsecured small business credit cards

— Secured and unsecured personal credit cards

— Equity financing

— Borrowing from friends and family

Each one has its pros and cons. A personal loan, line of credit or credit card may be easier to qualify for, for instance. But commingling personal and business finances can be problematic. If you default on the debt, your personal credit scores would take a hit and you would be personally responsible for repaying the debt.

Equity financing and borrowing from friends and family can also have its ups and downs. With equity financing, you ask investors to back your business, and in exchange they receive an ownership stake in it. You don’t have to repay any money to those investors, but you’re trading off full control of your business. And borrowing from friends and family can get tricky if you aren’t able to pay the money back.

[Read: Best Unsecured Business Loans.]

Work on Improving Your Credit Scores

If you’re seeking a no-credit-check business loan, it’s likely you have bad credit or no credit. If you improve your credit rating, you can increase the number of business loan options available to you.

You can improve your personal credit scores by:

— Paying bills on time each month

— Maintaining low balances on your credit cards

— Keeping older credit accounts open

— Limiting how often you apply for new credit

With business credit scores, the best ways to improve are paying your bills on time and maintaining good relationships with your vendors and suppliers.

Try to fix your scores first, Cairns says. If that’s not possible, then take the minimum amount required from some alternative lender while fixing your score. “That way,” he says, “you can refinance or get an additional loan at a better rate later.”

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