A certificate of insurance (COI), sometimes called a certificate of liability insurance, is a one-page document that summarizes your coverage and can be used as proof of insurance. The form includes policy details such as coverage limits and effective dates, so business owners can find and share them easily without revealing other, more private information….
Glossary of Business Terms
Business is full of terminology. Some you may know and some not so much. We've got you covered. Check out our glossary of business terms and products that you should know about, to succeed in business.
All Glossary Articles
A real estate broker is a professional who’s licensed to own and operate a brokerage, hire, and manage real estate agents, and represent buyers and sellers in realty transactions. Brokers earn an average annual salary of $69,640 and must meet educational and experiential requirements beyond those of agents and pass the broker licensing exam. These…
Commercial property insurance covers the building that houses a business along with office equipment, inventory, signs, and machinery in owned or leased locations. Small business owners may consider commercial building insurance as a standalone lessors risk policy exclusively for the building or combine other coverage with typical annual costs starting around $750. Top Commercial Property…
Disability insurance is a form of income protection that can cover up to 90% of an employed person’s income on a short- or long-term basis, regardless of how they became injured or disabled. Coverage starts at $300 per year but someone should expect to pay 1% – 3% of their annual income for a policy….
Patriot Express Loans were offered by the Small Business Administration (SBA) from 2007 to 2013, when the pilot program ended. Patriot Express Loans offered veteran-owned businesses loans at reduced interest rates and fees, with an expedited approval process. When the program concluded, many of the advantages offered became available through the SBA Express Loan program….
A Small Business Administration (SBA) Express loan provides small businesses with long-term working capital up to $350,000. These loans feature interest rates of 4.5% to 6.5% above the prime rate and typically have a 10-year term. SBA Express loans carry fewer documentation requirements than 7(a) loans but still take 30 to 90 days to fund….
You’ve heard the buzzword dozens of times, but now it’s time to clear the air once and for all: what exactly does B2B mean? At its most basic, B2B stands for “business-to-business.” It refers to selling products or services to other companies, rather than directly to consumers, also known as business-to-consumer (B2C). Types of B2B…
A franchise is a business opportunity where a licensor grants permission to a licensee to share their business concept. The resulting business, a franchise, helps the licensor expand while retaining control over products, delivery method, marketing, and concept. In return, the licensee receives an established product with permission from the franchise owner to sell it….
Amortization is an accounting technique that is used to lower the cost value of a finite life or intangible asset through scheduled, incremental charges to income. Like depreciation, amortization spreads the charges out across multiple years so that the costs may be set against the revenues of several years rather than all in one year….
An unsecured business line of credit is a financing product that allows you to draw and repay the funds over and over again without having to reapply or pledge collateral to secure the loan. Not all businesses have collateral that they can use to secure their financing, making an unsecured business line of credit ideal….
In the landscape of digital marketing tactics, the squeeze page exists for a single purpose: acquire email addresses. A squeeze page is a type of landing page that, instead of offering various calls-to-action (CTA) and options, it’s a simple, copy-light page that asks for a name and email address for lead generation or conversion. Landing…
Affiliate marketing, also called revenue sharing, is a method of earning a commission through the sales of products produced by another company using special referral codes (called cookies). If a site visitor clicks these code-based ads and buys the product from the third-party company, the site owner receives a commission. The concept of affiliate marketing…