Professional voicemail greetings elevate the call experience by encouraging customers to engage with your business even when no one is available to answer. An effective greeting consists of five key elements: a warm welcome, your company name or personal name, a prompt to explain the reason for the call, operating hours, and a clear call…
Ultimate Guide
16 Venture Capital Advantages & Disadvantages Explained
Before pursuing venture capital (VC) funding for your business, you should consider the various pros and cons and how they may be applicable to your company. We’ve compiled a list of venture capital advantages and disadvantages for your consideration. What is venture capital? Venture capital is a way to raise money for your business. Funds…
SBA 7(a) Loans: Rates, Requirements & Terms
Small Business Administration (SBA) 7(a) loans are the most common type of loan offered by the SBA. These are government-backed loans issued through participating lenders designated by the SBA. Loan proceeds can be used for various business purposes, including purchasing equipment, inventory, real estate, and other working capital needs. You can choose from different types…
Default Rate: Definition, Causes & Formula
The default rate is a calculation that includes all loans issued by a lender that have been written off as unpaid by the borrower and are officially in default. Loans typically go into default after an extended period of missed payments, and they are considered to be in violation of the terms of the loan…
SBA Loans: Types, Rates & Requirements
The Small Business Administration (SBA) is a government agency that has a mission of supporting small business owners, whether it is helping them recover, open up shop, or expand. Through its SBA loan programs, it insures many loans offered through private lenders, something that allows SBA loans to have competitive rates due to the reduced…
Credit Card Stacking: What It Is & How It Works
Editorial and Partnership Disclosure Credit card stacking involves applying for multiple credit cards in a specific order to access a larger unsecured line of credit. It can be done on your own or through a credit card stacking company. How Credit Card Stacking Works Credit card stacking works like an unsecured line of credit, where…
Oregon Sick Leave Law: What Small Businesses Need To Know
Every business in Oregon—even those with just one employee—is subject to the Oregon sick leave law, which requires up to 40 hours of sick time off per employee during a year. The sick leave may be paid or unpaid, depending on the size and location of your company. Even if your company is not located…
Wildfire Insurance in California: How To Navigate, Costs & Coverage
The recent wildfires in California have unfortunately devastated communities and businesses alike. As a small business owner in California, it’s crucial to understand your insurance coverage, how to file a claim, and what to expect once you’ve notified your insurance carrier.
Wildfire insurance in California or any other state is not a special type of policy. Any type of fire (including a wildfire) is a named loss covered under a standard commercial property policy. Commercial property insurance can be purchased either as a stand-alone policy or bundled with several other policies in what’s called a business…