Revenue-based financing, or RBF for short, is a type of loan in which your monthly payments are calculated based on a percentage of your company’s sales. Since this can fluctuate each month, you’ll be required to make payments until the balance of the loan is satisfied. Compared to traditional loans, RBF is less common, so…
Ultimate Guide
SBA Community Advantage Loan: What It Is & How to Apply
The Small Business Administration (SBA) Community Advantage loan program offers funding to businesses in underserved markets, such as startups, veterans, and minority entrepreneurs. You can get up to $350,000 in funding and, like other loans backed by the SBA, this loan can offer some of the most competitive rates available. SBA Community Advantage loan requirements…
What Is Self-storage Financing? How It Works & Types
As a small business owner, you can use self-storage financing to purchase, build, or conduct improvements to self-storage units. Common sources for self-storage financing include loans from traditional banks, online lenders, loan brokers, hard money loans, and Small Business Administration (SBA) loans through the 7(a) and 504 loan programs. Getting self-storage financing usually involves evaluating…
The Ultimate Guide to Customer Retention
Keeping a plump customer base is a unified goal for all business areas. In this endeavor, customer retention remains the most feasible blueprint, rooted in providing exceptional customer experience (CX) in all stages of the sales process. Uncover what it means to retain customers, metrics and strategies you can implement, expert tips, and the latest…
How to Use Square Inventory Management (+ Video)
Square’s inventory management features let you create and import items, edit variants, and adjust quantities—all from a single dashboard. Square inventory software is hosted within the larger Square point-of-sale (POS) system, which is free to use with any Square account. The POS can be accessed both through your browser and via the free Square POS…
HR to Employee Ratio: A Guide for Small Businesses
The HR to employee ratio, also known as the HR to staff ratio or human resources to employee ratio, measures the number of HR professionals relative to the total number of employees in a business. It helps businesses determine how many HR staff members are needed to manage their workforce effectively, ensuring that your business…
7 Sole Proprietorship Pros and Cons
A sole proprietorship is a single-owner business that’s never formally incorporated with a state filing. As such, it is not legally separate from its owner. As a result, many individually-owned businesses are sole proprietorships by default. Pros of a sole proprietorship include ease of setup, simplified recordkeeping, and low costs. Cons include the lack of…
Merchant Cash Advance: What It Is & How It Works
A merchant cash advance, or MCA for short, allows you to get an advance on your credit card sales. However, it is one of the most expensive forms of financing available, with annual percentage rates (APRs) regularly exceeding 100%, which is why we recommend it only as a last resort. MCAs can be a good…