Welcome to Paper.li Pro! Below you’ll find tips and best practices for getting the most out of your Pro Plan. Personalize your paper with commentary, visuals, links, pinned articles, and more personal brand building features. … The post Getting started with Paper.li Pro appeared first on Paper.li blog.
Tag: Getting
Getting started with Paper.li Pro
Welcome to Paper.li Pro! Below you’ll find tips and best practices for getting the most out of your Pro Plan. Personalize your paper with commentary, visuals, links, pinned articles, and more personal brand building features. …
The post Getting started with Paper.li Pro appeared first on Paper.li blog.
Getting Financial Freedom
Getting Financial Freedom
Interpretation of Financial Freedom
Financial liberty is a word that has actually taken primacy in the 21st century. It is a term that explains a way of living that is naturally intended where nobody is called for to help revenue to cover their costs. Financial flexibility continues that can be devoid of the obligations of cash as long as he has actually established a life specifying strategy to manage his financial resources.
Financial flexibility does not indicate that a person is without financial debt. It competes that financial obligation can be specified as a cost. While financial obligation is a consistent monetary factor to consider, an individual that has actually gotten economic liberty is permitted to note financial obligation as a component of his costs instead of a weight to his economic objectives.
Monetary liberty is a principle attuned to your way of life and also the quantity of cash you have to cover it. In this viewpoint, economic liberty is not as difficult to accomplish as initial envisioned.
Financial Freedom is Time Freedom
For various other individuals, monetary flexibility is equal to having actually a broadened recreation time. When you are able to create a feeling of time flexibility, then that indicates you are in a favorable instructions to obtain monetary liberty
Specified in different ways, monetary flexibility permits a person to take time on tasks without trading your complimentary time for earnings. Financial flexibility pivots on tradable properties that intensify over time to cover for normal costs.
Getting Financial Freedom
Accomplishing monetary flexibility calls for a various state of mind. Economic flexibility eliminates the idea of time-and-money-swap and also permits a private to make cash job for them.
Accomplishing monetary flexibility entails a various change in way of living and also total way of thinking. While it is simple to consider having even more time to develop a service as well as spend, a lot of white-collar worker still locate that whatever quantity of time that they have actually ought to be put in a regular. An essential action in accomplishing monetary flexibility is recognizing that there are methods to make far better use once.
To accomplish monetary flexibility, basic perspectives concerning the principle of cash require to be transformed. Evaluating economic liberty as the quantity of cash held beats the function due to the fact that in the end, you will certainly not have monetary liberty if you are not pleased with the cash that you have. Bear in mind that economic flexibility is likewise an individual understanding.
Constantly placed right into heart that economic liberty is a healthy and balanced effort as long as one feels it is fairly audio to make cash. In the end, having the appropriate mindset regarding cash will certainly go a lengthy means in dealing with various understandings of monetary flexibility.
Financial liberty continues that one can be complimentary of the duties of cash as long as he has actually established a life specifying strategy to manage his funds.
While financial debt is a consistent economic factor to consider, an individual that has actually gotten economic liberty is enabled to note financial debt as a component of his costs instead than a weight to his economic objectives.
When you are able to create a feeling of time flexibility, then that indicates you are in a favorable instructions to obtain monetary liberty
Evaluating monetary flexibility as the quantity of cash held beats the objective since in the end, you will certainly not have monetary flexibility if you are not pleased with the cash that you have. Constantly placed right into heart that economic flexibility is a healthy and balanced effort as long as one feels it is morally audio to make cash.
The post Getting Financial Freedom appeared first on ROI Credit Builders.
Getting Financial Freedom
Getting Financial Freedom
Interpretation of Financial Freedom
Financial liberty is a word that has actually taken primacy in the 21st century. It is a term that explains a way of living that is naturally intended where nobody is called for to help revenue to cover their costs. Financial flexibility continues that can be devoid of the obligations of cash as long as he has actually established a life specifying strategy to manage his financial resources.
Financial flexibility does not indicate that a person is without financial debt. It competes that financial obligation can be specified as a cost. While financial obligation is a consistent monetary factor to consider, an individual that has actually gotten economic liberty is permitted to note financial obligation as a component of his costs instead of a weight to his economic objectives.
Monetary liberty is a principle attuned to your way of life and also the quantity of cash you have to cover it. In this viewpoint, economic liberty is not as difficult to accomplish as initial envisioned.
Financial Freedom is Time Freedom
For various other individuals, monetary flexibility is equal to having actually a broadened recreation time. When you are able to create a feeling of time flexibility, then that indicates you are in a favorable instructions to obtain monetary liberty
Specified in different ways, monetary flexibility permits a person to take time on tasks without trading your complimentary time for earnings. Financial flexibility pivots on tradable properties that intensify over time to cover for normal costs.
Getting Financial Freedom
Accomplishing monetary flexibility calls for a various state of mind. Economic flexibility eliminates the idea of time-and-money-swap and also permits a private to make cash job for them.
Accomplishing monetary flexibility entails a various change in way of living and also total way of thinking. While it is simple to consider having even more time to develop a service as well as spend, a lot of white-collar worker still locate that whatever quantity of time that they have actually ought to be put in a regular. An essential action in accomplishing monetary flexibility is recognizing that there are methods to make far better use once.
To accomplish monetary flexibility, basic perspectives concerning the principle of cash require to be transformed. Evaluating economic liberty as the quantity of cash held beats the function due to the fact that in the end, you will certainly not have monetary liberty if you are not pleased with the cash that you have. Bear in mind that economic flexibility is likewise an individual understanding.
Constantly placed right into heart that economic liberty is a healthy and balanced effort as long as one feels it is fairly audio to make cash. In the end, having the appropriate mindset regarding cash will certainly go a lengthy means in dealing with various understandings of monetary flexibility.
Financial liberty continues that one can be complimentary of the duties of cash as long as he has actually established a life specifying strategy to manage his funds.
While financial debt is a consistent economic factor to consider, an individual that has actually gotten economic liberty is enabled to note financial debt as a component of his costs instead than a weight to his economic objectives.
When you are able to create a feeling of time flexibility, then that indicates you are in a favorable instructions to obtain monetary liberty
Evaluating monetary flexibility as the quantity of cash held beats the objective since in the end, you will certainly not have monetary flexibility if you are not pleased with the cash that you have. Constantly placed right into heart that economic flexibility is a healthy and balanced effort as long as one feels it is morally audio to make cash.
The post Getting Financial Freedom appeared first on ROI Credit Builders.
4 Fabulous Tips for Getting Small Business Loans
The Key to Getting Small Business Loans is to Be Smart and Prepared
It is inevitable in the life of any small business that the topic of small business loans is going to come up. No one loves debt, but funding is going to be necessary, and loans are the most common way to get that funding. For many business owners however, it can be overwhelming. Our 4 fabulous tips for how to getting small business loans may help.
Getting Small Business Loans By Going Shopping
Who doesn’t love a great deal? If you are shopping for clothing you have several options for where to go. Whether you hit the thrift store, a high-end boutique, or something in-between will depend on a number of factors. What type of clothing are you looking for? Where do you need to wear it? How long does it need to hold up? How much do you have to spend?
The same is true when shopping around for the best business loans. Where you go and what you get will depend on your particular business situation. You have to find the small business loans with the best rates and terms that you actually qualify for. When you start shopping, be sure to check out all of the following.
Large Banks
These typically offer the loans with the best rates and terms, but they are the hardest to qualify for. This is because large banks have very little wiggle room. They want to see strong financials, strong credit scores, and an established business.
Getting Small Business Loans at Community Banks
These are smaller, local institutions. Their terms and interest rates are usually competitive, and they are sometimes more willing to give a little on credit score if other mitigating factors exists.
Learn business loan secrets with our free, sure-fire guide.
Credit Unions
The first thing about credit unions is, you have to be a member to get a loan with them. However, they tend to have the best options for rates, if you are a member and meet the requirements.
Online Lenders
If you struggle with finding a small business loan due to credit score or time, online lenders may be your saving grace. They are fast, and though interest rates are typically higher, they are more flexible with credit scores as a general rule. Some of our top picks are included below.
● Fundbox
With Fundbox , you get an online lender that offers an automated process that is super-fast. Originally, they only had invoice financing, but now they offer a line of credit service as well. Repayments are automatic on a weekly basis, so be sure you have enough funds in your account to cover your payment each week.
Loan amounts come as low as $100 and as high as up to $100,000. There are no revenue or time in business requirements, but your accounting or invoice software must be compatible and must be in use for at least 3 months. There is also no specific credit score requirement. You simply have to be an established business with regular monthly revenue.
● OnDeck
Obtaining financing from OnDeck is quick and easy. First, you apply online. You will receive the decision once application processing is complete. If you get approval, your loan funds will go directly to your bank account. The minimum loan amount is $5,000 and the maximum is $500,000.
They do require a personal credit score of 500 or more, and you must be in business for at least one year. Annual revenue must be at or exceed $100,000. In addition, there can be no bankruptcy on file in the past 2 years and no unresolved liens or judgements.
● Kabbage
Kabbage is a well known competitor in the world of online lenders. They offer a small business line of credit that can help accomplish your business goals quickly. The minimum loan amount is $500 and the maximum is $250,000. They require at least one year in business and $50,000 or more in annual revenue, or $4,200 or more in monthly revenue, over the last 3 months.
They are great if you need cash quickly. Also, their non-traditional approach puts less weight on your credit score, so they may work better for borrowers struggling in that area.
Types of Small Business Loans
Remember you will also have choices when it comes to the type of small business loan you choose. As you are shopping around, consider that some lenders work with the Small Business Administration. If you qualify, an SBA program may be just what you need. Find out more about those programs here.
There will also be options for secured and unsecured loans. If you have collateral, a secured loan will usually have better rates and terms.
Nail the Business Plan for Getting Small Business Loans
Any traditional lender is going to need to see a business plan as part of the loan application process. Honestly, it is best to hire a professional business plan writer if possible. A professional business plan writer can work with you to gather all the necessary information and compile it into the traditional, acceptable format.
Learn business loan secrets with our free, sure-fire guide.
If you cannot hire a business plan writer however, there are a number of options that can help you. The Small Business Administration offers a template, and your local small business development center can help as well.
For a business plan to be taken seriously by a lender, it needs to include the following:
Opening
- An Executive Summary– This is a complete summary of the business idea.
- Description– The description goes into further detail than the summary, describing the business. What type of business is it? What product or service will it offer? This is where you work to get others excited about your business. Note that this is important even if your business is already operating, you just need to write in present, rather than future tense.
- Strategies-Layout your plan for getting started. Do you have a marketing plan, area in mind for location, or idea of how many employees you will start with? What is your ramp up plan? Again, already operating businesses will state the current operating strategy.
Market Research
- Market Analysis– This actually includes two parts. All that market research you did goes here:
o Analysis of audience: What need will or does your business fill, and for who? Are you a child care facility filling a need for affordable child care for working moms? Are you a diner offering a quick lunch option for those working downtown? How will your business fill the need? All of that information goes in this section.
o Competitive Analysis: Is there already a business working to fill this need? Is there room for more? How do you plan to compete with them?
If you are not a new business, this will be a market analysis that supports your need for funding, as well as how you plan to use the funds.
The Plan
- Plan for Design and Development: How is all of this going to play out, from start to finish? What steps are you going to take? This is more detailed than your strategies section.
- Plan for Operation and Management– Who will own or does own the business and who will run or currently runs it from day to day. This could be as simple as stating that you are the sole owner and operator, or as complicated as laying out a complete partnership plan or board or directors’ format. It just depends on how your business works.
Financials
- Financial Information– This section includes current financials, projections, and a budget plan for the loan funds you are applying for. Lenders need to see that you know how to handle the funds you get, and that you have a plan for paying them back.
Hunt and Gather
When you apply for small business loans, there is certain information that is pretty much necessary regardless of the type of loan or lender. This information is required in addition to a business plan. For example, you will need:
- Insurance documents
- Business licenses
- Personal income tax returns, usually for the previous 3 years
- Other personal financial information not included on the tax returns.
Go ahead and hunt these down, put hands on them, and be prepared with copies to present to lenders if they ask for them. They almost certainly will.
It Takes Two Baby
Large, traditional lenders are going to expect a good personal credit score. This is true despite the fact that you may have business credit. Smaller lenders, and especially online lenders, may be more willing to give a little on the personal credit score if your business credit is solid. They may also be willing to take into consideration things such as annual revenue and length of time in business if credit isn’t as good as they normally like to see.
What this means for you, is that when you go to get small business loans, you need to be sure your personal credit and your business credit are both as strong as possible. It takes two.
What to Do If your Personal Credit isn’t So Great
If your personal credit score isn’t so hot, there are a few things you can do to beef it up. The first, of course, is to make your payments consistently only time. In addition, consider how much of your credit you are using versus what you have available to use. This is your debt-to-credit ratio, and it affects your credit score negatively if it is too high. You can lower it by opening new accounts, but that also lowers your average age of accounts, which will have a negative effect on your score as well. So, you will need to do some research to see if the benefit will outweigh the cost of opening a new account to decrease your debt-to-credit ratio.
It is also important to get a free copy of your personal credit report each year and look for mistakes. If you find something that should not be there, report it to the credit reporting agency in writing. You will need to send in supporting documents also, but be sure to send copies and not originals.
Learn business loan secrets with our free, sure-fire guide.
What about Business Credit?
Business credit can help you with getting small business loans if it is strong enough. Many lenders will still want to see your personal credit score, but if it isn’t quite up to par, solid business credit can make all the difference. Some non-traditional lenders will even accept business credit in lieu of personal credit.
How do you get business credit? You have to build it, intentionally. It doesn’t just happen on its own like personal credit does. If you do not intentionally establish and build separate business credit, then all of your business transactions are simply reported on your personal credit report.
You must establish your business as an entity separate from yourself and start from ground zero to build a business credit report. It takes a while, so if you haven’t done so yet, now is the time. The first step is to visit irs.gov and formally incorporate your business. You will also need an EIN, which is like an SSN but for your business. This can be done for free on the IRS website as well. Find out more about how to establish and build business credit here.
Getting Small Business Loans: Be Smart and Be Prepared
The key to finding small business loans is to be smart and be prepared. Don’t just take the first offer you find. Look around and find the best rates and terms possible. Check out different types of lenders and various loan options. Then, get your business plan and other information together so that the process runs as smoothly as possible.
Remember than some lenders and loan programs may have additional requirements. This list of how to get small business loans doesn’t include all the various hoops some lenders may have you jump through. It will, however, give you a great start to finding the funding you need to help your business grow.
The post 4 Fabulous Tips for Getting Small Business Loans appeared first on Credit Suite.
The Top 10 Industries Getting Business Credit, And How You Can Too
All the Cool Kids are Getting Business Credit, Here’s How You Can Get It Too
Getting business credit isn’t necessarily hard, but it does take some effort and planning. There is a process, and you have to work for it. Who gets business credit? How can you get business credit? Do you even need company credit? These are all perfectly normal questions, as many entrepreneurs think they have to fund their business based solely on their personal credit. This just isn’t the case however.
For many, business credit is like the fairy godmother of the business world. It can take your company and put it in the elite class of businesses which are fundable on their own merits. While all types of businesses can get business credit, some are getting it more often than others.
Check out how our reliable process will help your business get the best business credit cards.
Top 10 Industries Getting Business Credit
1. Hospitality
Not so much hotels, but more like the newcomers similar to AirBnb, HomeAway, and VRBO. This is an innovative way to stay when you travel. And more like these are coming along. It gives consumers options. Consumers like options.
2. Real Estate
This refers more to house resale, or house flipping, than other types of real estate. Before the last recession this was big news, and then the bubble burst. It’s back and stronger than ever for now however. Of course, there is always the lingering potential pin poke of the next recession looming nearby, but for now, that is not stopping them.
3. Long Haul Truckers
There will always be a need for an affordable way to get things from one place to another, and long-haul truckers are just that.
4. Finance
Not just any financial business, but those related to credit building are building company credit right now. Businesses that help companies and individuals build their credit score are a big deal.
5. Food Delivery
Services that offer food pickup and delivery services such as DoorDash and GrubHub are growing and expanding, and they are getting business credit to do it.
6. Energy Conservation
Energy conservation is huge right now, and companies that are working toward that end are establishing business credit to help make it happen.
7. Health
There are two factions of the health industry building business credit frequently right now. Data and file management is in the news as there is a push for records consolidation across the board to ensure patient files are as comprehensive and complete as possible. Personalized health is also a hot topic, as more and more providers are realizing health care does not have a one size fits all solution. Business credit is helping providers in both areas thrive.
8. Entertainment Technology (Apps, gaming, streaming)
Netflix, Hulu, and all the other streaming apps prove that this isn’t an industry that is going anywhere any time soon. Add gaming and the hundreds of new apps that pop up in any given month and you can see why this is an industry that is getting business credit.
9. Consumer Retail
Consumer retail companies that focus on online retail, or a combination of online and brick and mortar, are using business credit as online retail solidifies its foothold in the retail industry.
10. Commercial Construction
Contractors working to build commercial property are busy right now. Business credit helps them get a leg up on the competition.
11. Bonus!!!! The Cannabis Industry
Whether it is edibles or CBD products, there is no doubt this industry is growing fast. Specialty stores selling a variety of CBD oil products are opening on virtually every corner, and with legalities changes frequently from state to state, other shops are popping up too.
While these are the top industries getting business credit, they aren’t the only ones. If your company doesn’t fit into one of these, you can still join in the fun. How? Why? Do you need or even want to join the crowd? The answer to the first question is a resounding yes! You definitely need to. As far as wanting too, I think you will, if you don’t already.
Check out how our reliable process will help your business get the best business credit cards.
Why Are These Guys Getting Business Credit?
You might think business credit is unnecessary because your personal credit is fine. Maybe you don’t know anything about business credit and think you do not have a chance because your personal credit is shot. If you have bad personal credit, you can absolutely build business credit that will fund your business. Suppose your personal credit is fine. Here is why you need business credit anyway.
Using business credit to handle your finances means personal finances will not be affected by company transactions. If your business goes bust, your personal credit score will stay intact, and you will not be personally liable for your business debts.
Thinking it isn’t an issue because your business is doing fine is a mistake. Paying business expenses with personal credit cards maxes cards out quickly. Even if you pay off large chunks every month, the rotating balance is likely very near the limit. This is because business expenses are large, and personal credit cards tend to have lower limits than biz credit cards.
This affects your debt-to-credit ratio, which can negatively affect your personal credit score even if you make payments on time. Business credit protects your personal credit score and ensures you have access to the funds you need to run your business.
How to Go About Getting Business Credit
Now that you know why you want to join the crowd that is establishing business credit, you can get busy. Here is what you need to do.
Apply for an EIN
This is an identifying number for your business that works similar to your SSN. You apply on the IRS website, and it is free. Use it on business credit applications instead of your SSN. You may still need to provide your SSN for fraud prevention, but it will not be used to access your personal credit score.
Incorporate
A business must be incorporated to have business credit. You can choose between forming a corporation, an S-corp, or an LLC. The idea is that your business needs to be established as an entity separate from yourself in every way. Incorporation not only accomplishes that, but it also offers you some liability from corporate debts.
Each option varies in cost and amount of protection it offers. Which one will work best for you depends on your specific business. Any of them will serve the purpose of establishing your corporation separately for purposes of building corporate credit though.
Contact Information
Your business needs to have an address and phone number that is different from your personal address and telephone number. The phone number should be toll free, and the business should be listed in the directories with its own contact information.
Website and Email
All businesses these days need a professional, user friendly website to be able to compete. You also need an email address that is specifically for the business. Do not use a free email service such as Gmail or Yahoo. The business email address should use the same URL as the business website.
Bank Accounts
Open a separate business bank account and begin running all business financial activity through that account. You can pay yourself from this account, but do not run personal expenses through it. Not only will this help separate your business from yourself, but it will also save a lot of time when tax season rolls around.
Getting Business Credit: Get a D-U-N-S Number
This is another identifying number, but it is only used by Dun & Bradstreet. They are the largest and most commonly used business credit reporting agency, so having a credit report with them is a must. You can get a DUNS number for free on their website, but they will try to sell you other services. You do not need them. Just get the free DUNS number.
Build Business Credit from the Ground Up
Once you have your business separated from your personal information and finances, you can get to work building business credit. It may seem overwhelming at first. This is because if you start applying for business credit cards and you do not yet have a credit score attached to your business, you are going to be turned down. You have to have credit to get credit, and it feel like a vicious cycle. We know how to break the cycle however. There is a crack in the circle. We know the “in.”
The Vendor Credit Tier
The vendor credit tier is your way in. These are vendors that will extend net 30 terms on invoices and then report your payments to the credit agencies. Once they start doing that, your business credit score will be established and grow from there.
Check out how our reliable process will help your business get the best business credit cards.
You may have to make a few initial purchases with these vendors before you can get net 30 terms. Some require a minimum amount of time in business, and there may be a minimum income requirement if you do not have business credit. There are dozens of them with varying requirements. What they do not require, however, is a credit score. This is how you start building business credit.
Working Through the Credit Tiers
Once you have 7 to 10 accounts reporting from the vendor credit tier, your score should be high enough to allow you to gain approval from creditors in the retail credit tier. These are credit cards attached to specific stores such as Best Buy, Amazon, and Office Depot. There are hundreds of these cards available with varying requirements. Apply for a few, use them, and as you have more and more accounts reporting your on-time payments, you will qualify for more.
After you have several accounts reporting from the retail credit tier, you will qualify for cards in the fleet credit tier. These cards are issued by companies like Shell, Fuelman, and WEX to be used for fuel purchases and automobile repairs.
Then, last but not least, the grand prize. When you have enough accounts reporting from each tier, and if you are keeping current on all your payments, your score will be strong enough for the cash credit tier. These are the general credit cards such as MasterCard and Visa that are not attached to a specific store. They typically have higher limits and more rewards options.
From there, the sky’s the limit. Your business will qualify for all the business credit it needs to continue to not only run, but thrive and grow.
A Few Ways to Use Business Credit to Your Benefit
Once you have all that business credit, what do you do with it? The short answer is, whatever you want. That is very broad of course. There are some scenarios where it can be especially helpful however.
Take Advantage of Special Pricing
Having business credit means you can take advantage of special pricing on inventory. For example, if you can get a 20% discount on a bulk order, and it is either a big seller or something you use regularly, the savings could be significant. However, you need the funds available to make the purchase. Company credit lets that happen without depleting cash reserves.
Float a Cash Gap
Cash gaps can occur for many reasons. The most common include lags in invoice collection and seasonal gaps. Company credit can allow you to cover those cash gaps without having to seek additional financing.
Reduce Cost
Used effectively, paying company expenses with company credit cards can actually reduce overall expenses. I know it sounds totally crazy considering you have to pay interest. Here how it could work, however.
Imagine you have a business credit card that offers 2% cash back on purchases. If you make your regular purchases on this card and pay them off each month, you avoid paying interest and reduce the cost of those expenses by 2%.
Expansion and Growth
If you need funds to expand and grow, business credit can help you access those funds. You may not want to fund a large expansion project with credit cards. But using charge cards wisely can help you build the business credit you need to get a line-of-credit or a traditional loan for a larger project.
You Could Be Getting Business Credit Too
When you read the list of top 10 industries getting business credit, you may think that you don’t stand a chance if you are not working in one of those industries. If you follow the steps listed above however, you can definitely get credit for your business that is not attached to your personal credit. This will not only ensure you can access the funds you need to run and grow your business, but also protect your personal finances should your business finances suffer. It’s a win-win, and all you have to do is trust the process.
The post The Top 10 Industries Getting Business Credit, And How You Can Too appeared first on Credit Suite.