The Small Business Administration (SBA) offers a line of credit program where funds can be used to cover temporary, short-term, and cyclical working capital needs. Some examples of what an SBA line of credit can be used for include inventory, labor costs, administrative expenses, and funds to help with the rehabilitation or repair of commercial…
Ultimate Guide
What Is an FHA Multifamily Family Loan?
FHA multifamily loans are used to assist in the purchase of multifamily real estate and offered by eligible loan providers. The Federal Housing Administration (FHA) provides insurance for these loans, which are subject to certain criteria defined by the FHA. Since these loans are backed by the government, they’re more accessible and typically offer more…
Designing Ecommerce Websites: Tips & Best Practices
Good ecommerce website design is critical when building your online store, as it attracts potential customers, provides an enjoyable user experience, and increases sales. Designing ecommerce websites differs from building regular websites—it involves highlighting products and creating a seamless buying experience for your customers. This guide outlines tips and strategies for designing highly effective ecommerce…
Void Transactions: Guide for Small Business
Any business owner who takes card payments for the first time will encounter a situation where the transaction needs to be voided. This means reversing the transaction—as if there was no transaction at all. Understanding and managing void transactions is essential for businesses to maintain financial accuracy and operational efficiency. What Is a Void Transaction?…
Freight & Cargo Insurance: Cost, Coverage & Providers
Cargo insurance, a form of inland marine insurance, is an important part of protecting the global supply chain. It pays the value of shipments, up to coverage limits, when shipments are lost, stolen, or damaged. Certain businesses that ship goods need cargo insurance, but those that ship infrequently can get coverage for single shipments. Small…
Crime Insurance: Cost, Coverage & Providers
Commercial crime insurance is an insurance policy for losses to your business because of criminal acts, such as employee theft or third-party fraud. Commercial crime coverage can be bundled with an existing commercial property policy or purchased as a stand-alone policy. Stand-alone crime insurance costs between $650 and $2,500 yearly. Getting crime insurance online quickly can be…
EPLI Insurance: Cost, Coverage & Best Providers
Employment practices liability insurance (EPLI) protects small businesses from liability arising from employment practices as they relate to employees. Claims against the business for wrongful termination, sexual harassment, or gender discrimination are examples of employment practices that EPLI covers. Small businesses can purchase EPLI as a stand-alone policy for $800 to $5,000 per year or…
6 Ways To Save Money on Business Insurance
When shopping for insurance, you’ll likely need to strike a balance between finding the cheapest business insurance and purchasing a policy that will protect your business. Good news—it’s possible to find quality coverage at an affordable price! Start by identifying the right policies for your business and bundling those coverages. Then, compare insurance companies’ offerings…