Staffing agency insurance is a set of business policies agency owners can purchase to protect their assets. Each policy covers different risks many employment agencies face by paying for the costs associated with them. At a minimum, most agencies need general liability to cover third-party injuries and property damage which costs $400 to $1,000 annually….
How a CD Ladder Can Maximize Your Money
A certificate of deposit (CD) offers premium rates. However, you cannot access your funds until maturity. If you want to take advantage of the higher rates CDs offer but don’t want to commit all your money to one long-term CD, you can use a CD ladder to help maximize your money and make your funds…
Revenue-based Financing: How a Revenue-based Loan Works
Revenue-based financing (RBF) is a type of small business loan offered by niche lenders in which your monthly payments increase or decrease based on your revenue. RBF works well for businesses that have stable revenue streams but don’t have the collateral needed for a traditional loan. Lenders charge a fixed amount, typically between 1.35x to…
7 Ways a Business Savings Account Can Improve Your Cash Flow
As a business owner, you will need a separate business savings account, especially if you want to set aside extra funds for emergencies and future growth. A business savings account can provide you with the opportunity to earn interest and help build your finances. Without it, you’ll risk mismanaging your business resources. Do I Need…
Shopify Pricing Plans 2021: Which Is Best for Your Business?
Shopify is our top pick for best ecommerce platform for small businesses because of its ease of use, robust features, and scalable yet affordable pricing plans. If you’re starting an online store using Shopify, then expect to pay $250 to $500 in startup fees and around $50 to $100 in monthly fees at the start,…
Church Insurance: Cost, Coverage & Top Companies
Churches need to protect their assets like any other business. But getting coverage isn’t as simple as asking an agent for church insurance. Rather, you need several policies, each designed for a specific risk. For instance, most churches need general liability in case a congregant suffers an injury. This policy typically costs between $500 to…
Food Vendor Insurance: Coverage, Providers & Cost
Food vendor insurance refers to the types of coverage food vendors need to protect their businesses against financial loss from liability claims. The most common policies for food vendors are general liability and commercial property. Food vendor insurance costs start around $300 to $1,300 annually and can start as low as $60 for single-day events….
When to Use a Credit Card to Fund Your Business
If you’re in need of flexible working capital financing for your small business and don’t qualify for a loan, using a credit card may be the best way to go. Along with providing the money you need, credit cards can allow you to earn rewards on business-related purchases. Here are a few good reasons to…
Daycare Insurance: Coverage, Costs & Top Providers
Policies can cover business-owned property and liability risks that come with caring for children. Depending on the coverage, annual costs of daycare insurance range from $450 to $1,350 for in-home childcare businesses and from $1,000 to $3,500 for commercial daycare centers. To get your daycare insured quickly and properly, try an online broker like ….
What Nonsufficient Funds (NSF) Fees Are and How To Avoid Them
A nonsufficient funds (NSF) fee is charged when you write a check against an account that does not have enough money in it to cover it. The amount of the NSF fee varies per bank, with an average that ranges between $27 to $35. Knowing how to avoid NSF fees will help you maintain a…
SBA 504 Loans: What They Are & How They Work
The SBA 504 loan program from the Small Business Administration combines two loans—one from a lender and one from a community development corporation (CDC)—that can be used for commercial real estate and other fixed assets like equipment. The lender portion covers up to 50% of the loan, the CDC portion covers 40%, and the borrower…
SBA Loans: Types, Rates & Requirements
The Small Business Administration (SBA) guarantees business loans issued by approved lenders. Although difficult to qualify for, SBA loans carry relatively low interest rates with terms up to 25 years. The six types of SBA loans are: SBA 7(a) Loans: Working capital up to $5 million SBA CDC/504 Loans: For purchasing owner-occupied commercial real estate…