A professional voicemail greeting is crucial for small businesses because it sets the tone for interactions and the overall customer journey. An effective greeting should include five essential elements: a warm welcome, your company name or personal name, a prompt to explain the reason for the call, your operating hours, and a clear call to…
Ultimate Guide
Small Business Line of Credit: Rates, Requirements & Terms
A small business line of credit is a revolving credit facility that allows you to borrow funds on an as-needed basis. You can request a draw on the line, have the funds deposited to your account of choice, use the funds for business purposes, and repay the balance over time. This flexibility makes it a…
How to Separate Business and Personal Finances in 9 Steps
I’ll walk you through how to separate business and personal finances, from registering your business with the IRS and tracking expenses to engaging a tax professional and drawing clear dividing lines. Maintaining a division between your personal and business finances is crucial and should be one of the first things you do when starting a…
What Is a Joint Business Bank Account & How to Open
A joint business bank account is equally owned by two or more partners. Each has the right to deposit and withdraw funds, write checks, use a debit card, and transfer money.
A joint account provides each business partner with full transparency regarding company finances, including its saving and spending habits, and is generally used by a partnership or an LLP. This allows all partners to consolidate their finances into one account so that managing and protecting company funds is easier. As a result, bookkeeping will be…
Revenue-based Financing: How a Revenue-based Loan Works
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…
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…