All Financing Articles - Page 7

Commercial Real Estate Loan Rates 2020

By Tricia Tetreault on April 1, 2020 | Business Loans, Financing, What is | Comments (4)

Commercial real estate loan rates remain at near all time lows, making now a great time for small business owners to purchase or refinance commercial property. A variety of different lenders make commercial real estate loans. This article covers how commercial real estate loan rates work and the interest rates that different types of lenders…

How Many Credit Cards Should I Have?

By Benilyn Formoso - Suralta on April 1, 2020 | Credit Cards, Financing, What is | Comments (0)

While there isn’t a set number of credit cards you should have, you’ll need at least one to build credit. Based on data from the credit bureau Experian, each American with a card owns an average of 3.1 credit cards. How you use each card is typically more important than how many accounts you have…

What Invoice Assignment Is & How it Works

By Dennis Shirshikov on March 31, 2020 | Financing, What is | Comments (0)

Invoice assignment is the process by which a small business transfers responsibility for an invoice to an invoice factoring provider in exchange for access to quick capital. The lender is then responsible for collecting, distributing, and settling the invoice for the small business and its customers. How an Invoice Assignment Agreement Works An invoice factoring…

How Invoice Factoring Works

By Dennis Shirshikov on March 30, 2020 | Business Loans, Financing, Ultimate Guide | Comments (26)

Businesses that invoice clients can assign unpaid invoices to a factoring company to get fast cash. For a fee, the factoring company advances a portion of the invoice value to the business. The factoring company then collects payment from the invoiced client and sends the business the remaining invoice balance. That’s how invoice factoring works….

5 Best Spot Factoring Companies

By Dennis Shirshikov on March 30, 2020 | Buyer's Guide, Financing | Comments (0)

Spot factoring companies offer borrowers the opportunity to factor individual invoices rather than factoring all of their invoices for a particular client or project. The added flexibility is very useful to small business owners with few invoices and those who need flexible factoring solutions. Best Spot Factoring Companies How We Evaluated We evaluated more than…

What Is a Bad Credit Score?

By Yvette Glover on March 27, 2020 | Credit Scores and Reports, Personal Finance, What is | Comments (0)

FICO credit scores below 580 and VantageScores below 601 are typically considered poor or bad credit. Bad credit can prevent you from getting loans, credit cards, or even renting property. You can avoid bad credit status by using less than 30% of your total available credit and by consistently paying debt on time. What Is…

How Does Credit Card Interest Work?

By Benilyn Formoso - Suralta on March 27, 2020 | Credit Cards, Financing, Ultimate Guide | Comments (0)

Credit card issuers charge interest if you don’t pay your bill in full each month. It’s typically stated as a yearly rate known as the annual percentage rate (APR). To calculate your interest, divide your APR by 365 (days) to get the daily rate, then multiply your current balance by that rate. There are two…

What Is Maturity Factoring?

By Dennis Shirshikov on March 26, 2020 | Financing, What is | Comments (0)

Maturity factoring offers small business owners an opportunity to get paid the value of receivables by the factoring company on the maturity date, which may be on or after the invoice due date. Both parties can agree to an alternative date; however, unlike traditional factoring, maturity factoring does not offer immediate funding. How Maturity Factoring…

What Is a Balance Transfer & How Much Does It Cost?

By Benilyn Formoso - Suralta on March 26, 2020 | Credit Cards, Financing, What is | Comments (0)

A balance transfer lets you move debt from one credit card to another, typically for a fee. Balance transfer fees usually range between 3% to 5% of the amount of your balance transfer, or between $5 to $10, whichever is higher. Some credit cards offer introductory 0% annual percentage rates (APR) on balance transfers for…

What Is a Factoring Reserve Account?

By Dennis Shirshikov on March 26, 2020 | Financing, What is | Comments (0)

The factoring reserve is the amount a factoring company holds in reserve until a debtor pays the invoice. Once the debtor pays the invoice, the factoring company pays the reserve—or rebate—to the business that sold its invoice to the factoring company. The factoring company keeps a percentage, called the factoring rate, which is its fee…

7 Best Small Business Lines of Credit 2020

By Dennis Shirshikov on March 26, 2020 | Business Loans, Buyer's Guide, Financing | Comments (0)

*Last Updated: August 2020 How We Evaluated the Best Business Lines of Credit When evaluating the best business lines of credit, we considered rates, terms, qualifications, and funding speed to be equally important. While most traditional lenders offer better rates, they also have higher qualification requirements and slower funding speeds on lines of credit. We…

NYC Offering Grants for COVID-19 Affected Small Businesses

By Tricia Tetreault on March 23, 2020 | Financing, What is | Comments (0)

In an effort to assist small businesses in New York City that have been adversely impacted by the COVID-19 outbreak, the city has established the NYC Employee Retention Grant Program. This program is aimed at helping small businesses retain employees during a time of decreased business revenue. Small businesses that have experienced at least a…