Tag: Look

A Brief Look at the Origins of Lending

A Brief Look at the Origins of Lending

When attempting to find the beginnings of offering you could discover on your own taking a look at a great deal of unassociated details that does not truly inform you what it is that you would like to know.
The beginnings of providing return to at the very least scriptural times, with discusses of offering also being pointed out in particular locations in the Bible. Despite modern-day financial and also loaning, the beginnings of financing can return numerous a century … completely to the Middle Ages as well as in the past.
The Middle Ages and also the Renaissance are most likely the most effective areas to start trying to find info on this topic, as these times were when economic documents were starting to be maintained in earnest and also loaning in its contemporary kind was starting to really establish.
Financing in the very early Middle Ages
If you take a look at the very early Middle Ages to attempt to uncover the beginnings of loaning, you’ll discover that fundings were frequently essentially discriminatory as well as constantly paid for a huge advantage to the loan provider.
Landowners as well as the rich would certainly make lendings to poorer people while billing high rates of interest or making the consumer job to settle the financial obligation … in a lot of cases, the loan provider would certainly also enhance the regards to the funding as soon as is was virtually paid off to make sure that the customer would certainly need to remain to pay or job without spend for the loan provider.
If a debtor was incapable to settle their car loan they might also be tossed right into a borrower’s jail, held without reasonable test up until a person had the ability to repay their financial obligation or various other plans for their launch were made.
Borrowing throughout the Renaissance
Throughout the Renaissance as well as late Middle Ages, the beginnings of borrowing started to deviate a lot more towards what loaning is today. People called lenders would layer their sell market squares as well as various other service as well as seller locations, establishing a bench referred to as a “banca” (where we obtain the modern-day English word, “financial institution”) on which they would certainly perform their purchases.
A number of lenders could operate in the exact same location, as well as the competitors had a tendency to minimize a few of the luxurious rates of interest that were developed by landowners as well as various other authorities in previous centuries … this really did not, nonetheless, indicate that the profession of the lender was exemplary or totally reasonable.
The lenders would certainly still make every effort to make as much of a revenue as they can from debtors, and also could presume regarding misstate their documents of deals and also settlements so regarding fraud even more cash out of the much less ignorant or lucky.
Borrower’s jails were prominent, as well as in some locations were extremely crowded with individuals that had actually hardly been managing in the outdoors as well as had little hope of launch.
Financing in the modern-day globe
As time has actually advanced, so have the techniques of making and also obtaining fundings … it’s simple to see just how much points have actually come because the very early beginnings of borrowing.
The precursors of contemporary financial institutions created together with the Industrial Revolution, as well as in the years and also centuries that adhered to most significant nations worldwide have actually eliminated most sorts of unjust loaning in addition to borrower’s jails.
Rates of interest at financial institutions, money firms, as well as online loan providers are regulated by both nationwide as well as neighborhood aspects, as well as contemporary lending institutions aim to supply a beneficial solution to both the general public as well as companies by offering sensible rates of interest as well as precise terms.
Borrowing has actually expanded from a technique of a couple of people searching for revenues to a significant market on which the basis of the contemporary globe is developed … an instance of exactly how from easy beginnings can come wonderful points.
—
You might openly reprint this post offered the adhering to writer’s bio (consisting of the real-time URL web link) continues to be undamaged:

The post A Brief Look at the Origins of Lending appeared first on ROI Credit Builders.

A Brief Look at the Origins of Lending

A Brief Look at the Origins of Lending

When attempting to find the beginnings of offering you could discover on your own taking a look at a great deal of unassociated details that does not truly inform you what it is that you would like to know.
The beginnings of providing return to at the very least scriptural times, with discusses of offering also being pointed out in particular locations in the Bible. Despite modern-day financial and also loaning, the beginnings of financing can return numerous a century … completely to the Middle Ages as well as in the past.
The Middle Ages and also the Renaissance are most likely the most effective areas to start trying to find info on this topic, as these times were when economic documents were starting to be maintained in earnest and also loaning in its contemporary kind was starting to really establish.
Financing in the very early Middle Ages
If you take a look at the very early Middle Ages to attempt to uncover the beginnings of loaning, you’ll discover that fundings were frequently essentially discriminatory as well as constantly paid for a huge advantage to the loan provider.
Landowners as well as the rich would certainly make lendings to poorer people while billing high rates of interest or making the consumer job to settle the financial obligation … in a lot of cases, the loan provider would certainly also enhance the regards to the funding as soon as is was virtually paid off to make sure that the customer would certainly need to remain to pay or job without spend for the loan provider.
If a debtor was incapable to settle their car loan they might also be tossed right into a borrower’s jail, held without reasonable test up until a person had the ability to repay their financial obligation or various other plans for their launch were made.
Borrowing throughout the Renaissance
Throughout the Renaissance as well as late Middle Ages, the beginnings of borrowing started to deviate a lot more towards what loaning is today. People called lenders would layer their sell market squares as well as various other service as well as seller locations, establishing a bench referred to as a “banca” (where we obtain the modern-day English word, “financial institution”) on which they would certainly perform their purchases.
A number of lenders could operate in the exact same location, as well as the competitors had a tendency to minimize a few of the luxurious rates of interest that were developed by landowners as well as various other authorities in previous centuries … this really did not, nonetheless, indicate that the profession of the lender was exemplary or totally reasonable.
The lenders would certainly still make every effort to make as much of a revenue as they can from debtors, and also could presume regarding misstate their documents of deals and also settlements so regarding fraud even more cash out of the much less ignorant or lucky.
Borrower’s jails were prominent, as well as in some locations were extremely crowded with individuals that had actually hardly been managing in the outdoors as well as had little hope of launch.
Financing in the modern-day globe
As time has actually advanced, so have the techniques of making and also obtaining fundings … it’s simple to see just how much points have actually come because the very early beginnings of borrowing.
The precursors of contemporary financial institutions created together with the Industrial Revolution, as well as in the years and also centuries that adhered to most significant nations worldwide have actually eliminated most sorts of unjust loaning in addition to borrower’s jails.
Rates of interest at financial institutions, money firms, as well as online loan providers are regulated by both nationwide as well as neighborhood aspects, as well as contemporary lending institutions aim to supply a beneficial solution to both the general public as well as companies by offering sensible rates of interest as well as precise terms.
Borrowing has actually expanded from a technique of a couple of people searching for revenues to a significant market on which the basis of the contemporary globe is developed … an instance of exactly how from easy beginnings can come wonderful points.
—
You might openly reprint this post offered the adhering to writer’s bio (consisting of the real-time URL web link) continues to be undamaged:

The post A Brief Look at the Origins of Lending appeared first on ROI Credit Builders.

What is Fundability? An In-Depth Look

As a business owner, you may be beginning to hear the word fundability a lot.  It may come from lenders, various media platforms, or your own current creditors.  What is fundability? Fundability, in the simplest terms, is the ability of your business to get funding. When lenders consider funding your business, does it appear to them to be a good idea to make the loan?  What do they look at to make that determination? 

What is Fundability and How Does a Business Become Fundable? 

Okay, so if you know that fundability is the ability to get funding for your business, what does that actually mean.  Furthermore, how does a business become fundable? First, what it means to have the ability to get funding is this. When a lender considers lending to your business, do they feel that you are high risk?  Do you appear to be a business that can and will pay back the debt? Lenders are in it for the money, and they need to feel they will get a return on their investment. A high credit risk is not a wise lending choice.  

The question of what is fundability is fairly easy to answer.  The harder question is how does a business get fundability? Put another way, how does a business become fundable?  What makes this answer more complicated is that there is so much the answer must encompass. Sure, a great business credit score is important.  In addition, many of the aspects necessary for a strong business credit score are necessary for fundability as well. There are many more layers to peel back however.

A potential creditor needs to see that your business is legitimate and profitable.  Many loan applications are denied approval due to fraud concerns. Others, simply because something didn’t match up and threw up a red flag. Maybe the addresses or phone numbers didn’t match on a couple of reports and it just looks unprofessional.  

Keep your business protected with our professional business credit monitoring. 

If you understand what fundability is and how to get it, you can shut down any such red flags before they cause you problems. 

What Is Fundability? The Foundation of Fundability

The foundation of fundability is in how your business is set up.  It has to be set up to appear to be a fundable entity separate from you, the owner.  How do you accomplish this? Well, like any foundation, it is best to start at the beginning.  It will be faster and easier if you do. However, if your business is already up and running, then you may not have that option.  That’s okay, it’s never too late to start, but start now. For several reasons, the longer you wait the harder it will be. 

Contact Information

The first step in setting up a foundation of fundability is to ensure your business has its own phone number, fax number, and address.   Now don’t panic. That doesn’t mean you have to get a separate phone line, or even a separate location. You can still run your business from your home or on your computer if that is what you want.  You do not even have to have a fax machine.  

In fact, you can get a business phone number and fax number pretty easily that will work over the internet instead of phone lines.  In addition, the phone number will forward to any phone you want it too so you can simply use your personal cell phone or landline if you want.  Whenever someone calls your business number it will ring straight to you. 

Faxes can be sent to an online fax service, if anyone ever happens to actually fax you.  This part may seem outdated, but it does help your business appear legitimate to lenders. 

You can use a virtual office for a business address. How do you get a virtual office?  What is that? It’s not what you may think.  This is a business that offers a physical address for a fee, and sometimes they even offer mail service and live receptionist services.  In addition, there are some that offer meeting spaces for those times you may need to meet a client or customer in person. 

EIN

The next thing you need to do is get an EIN for your business.  This is an identifying number for your business that works in a way similar to how your SSN works for you personally.  Some business owners used their SSN for their business. This is what a lot of sole proprietorships and partnerships do.  However, it really doesn’t look professional to lenders, and it can cause your personal and business credit to get all mixed up.  When you are looking to increase fundability, you need to apply for and use an EIN. You can get one for free from the IRS.

Incorporatewhat is fundability Credit Suite

This is the most important step in fundability thus far.  Incorporating your business as an LLC, S-corp, or corporation is necessary to fundability.  It lends credence to your business as one that is legitimate. It also offers some protection from liability. 

Which option you choose does not matter as much for fundability as it does for your budget and needs for liability protection.  The best thing to do is talk to your attorney or a tax professional. What is going to happen is that you are going to lose the time in business that you have.  When you incorporate, you become a new entity. You basically have to start over. You’ll also lose any positive payment history you may have accumulated as well. 

This is why you have to incorporate as soon as possible.  Not only is it necessary for fundability and for building business credit, but so is time in business.  The longer you have been in business the more fundable you appear to be. That starts on the date of incorporation, regardless of when you actually started doing business. 

Business Bank Account

You have to open a separate, dedicated business bank account.  There are a few reasons for this. First, it will help you keep track of business finances.  It will also help you keep them separate from personal finances for tax purposes. 

There’s more to it however.  There are several types of funding you cannot get without a business bank account.  Many lenders and credit cards want to see one with a minimum average balance. In addition, you cannot get a merchant account without a business account at a bank. That means, you cannot take credit cards payments.  Studies show consumers tend to spend more when they can pay by credit card.

Licenses

What is fundability?  Among other things, it is being a legitimate business.  For a business to be legitimate it has to have all of the necessary licenses it needs to run.  If it doesn’t, red flags are going to fly up all over the place. Do the research you need to do to ensure you have all of the licenses necessary to legitimately run your business at the federal, state, and local levels. 

Keep your business protected with our professional business credit monitoring.

Website

I am sure you are wondering how a business website can affect you ability to get funding.  Here’s the thing. These days, you do not exist if you do not have a website. However, having a poorly put together website can be even worse.  It is the first impression you make on many, and if it appears to be unprofessional it will not bode well for you with consumers or potential lenders. 

Spend the time and money necessary to ensure your website is professionally designed and works well.  Pay for hosting too. Don’t use a free hosting service. Along these same lines, your business needs a dedicated business email address.  Make sure it has the same URL as your Website. Don’t use a free service such as Yahoo or Gmail.

What is Fundability? Business Credit Reports

The next step in answering the question of what is fundability is to consider your business credit report.  What is that you ask? That is the credit report, much like your consumer credit report, that details the credit history of your business.  It is a tool to help lenders determine how credit worthy your business is.  

Where do business credit reports come from?  There are a lot of different places, but the main ones are Dun & Bradstreet, Experian, Equifax, and FICO SBSS.  Since you have no way of knowing which one your lender will choose, you need to make sure all of these reports are up to date and accurate. 

Other Business Data Agencies 

In addition to the business credit reporting agencies that directly calculate and issue credit reports, there are other business data agencies that affect those reports indirectly.  Two examples of this are LexisNexis and The Small Business Finance Exchange. These two agencies gather data from a variety of sources, including public records.  This means they could even have access to information relating to automobile accidents and liens. While you may not be able to access or change the data the agencies have on your business, you can ensure that any new information they receive is positive.  Enough positive information can help counteract any negative information from the past. 

Identification Numbers 

In addition to the EIN, there are identifying numbers that go along with your business credit reports.  When considering what is fundability, you need to be aware that these numbers exists. Some of them are simply assigned by the agency, like the Experian BIN.  One, however, you have to apply to get. It is absolutely necessary that you do this. 

Dun & Bradstreet is the largest and most commonly used business credit reporting agency.  Every credit file in their database has a D-U-N-S number. To get a D-U-N-S number, you have to apply for one through the D&B website. 

What is Fundability: Business Credit History

This is where the rubber meets the road when it comes to credit reports.  Your credit history has everything to do with everything related to your credit score, which is a huge factor in the fundability of your business.  

Your credit history consists of a number of things including: 

  • How many accounts are reporting payments?
  • How long have you had each account? 
  • What type of accounts are they?
  • How much credit are you using on each account versus how much is available?
  • Are you making your payments on these accounts consistently on-time?

The more accounts you have reporting on-time payments, the stronger your credit score will be. 

Business Information

On the surface, it seems obvious that all of your business information should be the same across the board everywhere you use it.  However, when you start changing things up like adding a business phone number and address or incorporating, you may find that some things slip through the cracks. 

This is a problem because a ton of loan applications are turned down each year due to fraud concerns simply because things do not match up.  Maybe your business licenses have your personal address but now you have a business address. You have to change it. Perhaps some of your credit accounts have a slightly different name or a different phone number listed than what is on your loan application. Do your insurances all have the correct information?  

The key to this piece of the business fundability is to monitor your reports frequently.   When it comes to business credit reports, you can monitor through the reporting agencies directly, or save money by going here. 

What is Fundability? Financial Statements

This encompasses a broad spectrum of things.  First, there is the obvious. Both your personal and business tax returns need to be in order.  Not only that, but you need to be paying your taxes, both business and personal. However, there is yet another layer.  

Business Financials

It is best to have an accounting professional prepare regular financial statements for your business. Having an accountant’s name on financial statements lends credence to the legitimacy of your business. If you cannot afford this monthly or quarterly, at least have professional statements prepared annually. Then, they are at the ready whenever you need to apply for a loan. 

Personal Financials

Often tax returns for the previous three years will suffice.  Get a tax professional to prepare them. This is the bare minimum you will need.  Other information lenders may ask for include check stubs and bank statements, among other things. 

Bureaus

There are several other agencies that hold information related to your personal finances that you need to know about.  Everyone knows about FICO. Your personal FICO score needs to be as strong as possible. It really can affect business fundability and almost all traditional lenders will look at personal credit in addition to business credit. 

In addition to FICO reporting personal credit, you have ChexSystems.  In the simplest terms, this keeps up with bad check activity and makes a difference when it comes to your bank score.  If you have too many bad checks, you will not be able to open a bank account. That will cause serious fundability issues. 

For this point, everything comes into play.  Have you ever been convicted of a crime? Do you have a bankruptcy or short sell on your record?  How about liens or UCC filings? All of this can and will play into the fundability of your business. 

Keep your business protected with our professional business credit monitoring.

Personal Credit History

Your personal credit score from Experian, Equifax, and Transunion all make a difference.  You have to have your personal credit in order because it will definitely affect the fundability of your business.  If it isn’t great right now, get to work on it. The number one way to get a strong personal credit score or improve a week one is to make payments consistently on time. 

Also, make sure you monitor your personal credit regularly to ensure mistakes are corrected and that there are no fraudulent accounts being reported. 

What is Fundability: the Application Process

So much plays into this that you may not even think about. First, consider the timing of the application.  Is your business currently fundable? If not, do some work first to increase fundability. Next, ensure that your business name, business address, and ownership status are all verifiable.  Lenders will check into it. Lastly, make sure you choose the right lending product for your business and your needs. Do you need a traditional loan or a line of credit? Would a working capital loan or expansion loan work best for your needs?  Choosing the right product to apply for can make all the difference. 

What is Fundability?  It’s Everything!

The quick answer to what is fundability is simple.  However, when you dig a little deeper there are so many layers that crisscross it can take some time to unravel.It’s more like a ball of yarn than an onion really.   Everything is connected, everything matters, and one kink in the wires can mess up a lot of stuff. Now is the time to take a closer look at the fundability of your business do whatever you can to increase it. 

The post What is Fundability? An In-Depth Look appeared first on Credit Suite.

Additional Minority Owned Business Funding Sources are Available if You Know Where to Look 

The United States is known as the melting pot for a reason.  It is full of people with roots stretching worldwide. Some countries are less represented than others however.  This means we have a lot of citizens in minority groups. In some areas of the country, the entire population is part of a minority group.   In 2016, there were 8 million minority owned businesses.  This was up 38% from 2007 data.  If you have a minority owned business, then you have some additional funding options. 

Additional Funding Options for Your Minority Owned Business

These options come in the form of loans and grants for minority owned business.  You need to know where to look. You also need to know eligibility requirements. This will help you prepare your application.  A great application will help to improve your chance of winning a grant or loan approval. 

Check out our professional research on bank ratings, the little-known reason why you will – or won’t – get a bank loan for your business. 

Minority Owned Business Grants

minority owned business Credit Suite

Grants are basically free money. You never have to pay it back.  However, they are also highly competitive. In addition, they are rarely enough to completely fund a business.  Still, grant money can reduce the need to borrow money.  

Here are some minority grant options to consider.  There are certainly others out there though. They are not always well advertised.  This means you need to be sure to do your own research as well. 

First Nations Development Institute Grants

This group has a mission to offer grants to help Alaska Natives, Native Hawaiians, and Native Americans.  In addition to the funds, they offer assistance in the application process.

There is a wide range of opportunities from the First Nations Development Institute, with new ones rolling on as old ones roll off. Join the mailing list to be notified of new opportunities as they are posted.

National Black MBA Association Scale-Up Pitch Challenge

Also known as NBMBAA, their Scale-Up Pitch Challenge offers prizes in cash ranging from $1,000 to $50,000.  The purpose of the association is to help newer businesses that have an African founder that maintains equal ownership.  

A business must be an NBMBAA member to compete.  There is a $10 monthly membership fee. Then, there is an online application.   If chosen, a business must submit a three-minute pitch. Finalists will go on to compete at the NBMBAA annual conference.”

FedEx Small Business Grant

This grant is the FedEx way of working to strengthen small business innovation.  The company awards 10 grants. They range from $15,000 to $50,000 every year. If you’re a minority owned business owner with a cutting-edge product, this could be the grant for you.

You have to submit entry via the FedEx website. It requires that you answer a few questions about your business.  This includes providing an elevator pitch about what makes your business stand out.  In addition, you have to explain how you would use the grant funds. You can also submit an optional 90 second video.

NASE Growth Grants

The National Association for the Self-Employed (NASE) has small business Growth Grants that range up to $4,000. Grant recipients must be micro-businesses. Proceeds can be used to help your business market, advertise, expand, and hire employees. These grants are open to everyone.  However, you do have to be a NASE member to apply. Cost of membership depends on the member level you choose.

USDA Value Added Producer Grant

The USDA’s Value Added Producer Grant (VAPG) program offers grants for small businesses.  This includes minority owned business. Grants range up to $250,000. They are specifically to help agricultural producers with activities that add value to their products. Grants are open to those in rural areas.  They must be operating as cooperatives, farmers, ranchers, independent agricultural producers, or agricultural producer groups. 

Minority Owned Business Resources

These resources do not offer grants or any type of funding directly.  Still, they can be a great help and support in finding funding. They can also help with other issues that come with being a minority business owner. 

Check out our professional research on bank ratings, the little-known reason why you will – or won’t – get a bank loan for your business. 

Minority Business Development Agency (MBDA)

This agency is under the direction of the United States Department of Commerce.  It helps minority business owners and minorities that want to become business owners. They have business centers all around the country.  They offer help finding grants that could be a good fit. In addition, they offer help with the application process. 

USA.gov

While not minority specific, this website offers a list of government resources.  This includes resources for any minority owned business. It also provides links to many federal government agencies that offer loans and grants for minority small business. 

Grants.Gov

This is another resource to help find grants for your minority owned business.  In addition to a list of grant opportunities, it has information that can help you create a winning grant application package. 

There are over 1,000 grants to dig through.  Most of them are for research and development purposes.  You should still take the time to look at them, as you may find one that will work well for your business. 

Loans for Minority Owned Business

Loans for minority business owners can come from several different sources.   Some only offer minority business loans to those in certain cities. Some are only available if you are looking to land government contracts.  Each have their own requirements. It takes a lot of research to line everything out and see what is available. We have a list of some of the best options to help you get started. 

Business Consortium Fund, Inc.

This program is through the US Department of the Treasury.  Typically, businesses can qualify for $75,000 to $500,000 after approval.  Amounts above $500,000 are possible. However, they are on a case by case basis only.  

Businesses can use funds for working capital, equipment financing, and contract financing. To apply, you have to certify your business through The National Minority Supplier Development Council. In addition, a business must have a supplier relationship with the Council to be eligible. 

National African American Small Business Loans

These loans are only available in Chicago, Los Angeles, and New York.  They go to communities with low to medium incomes. The NASBLF  provides capital to African American owned businesses that are not eligible for traditional financing options.  

The range for loans is $35,000 to $250,000. Borrowers can use funds to help with cash flow, expansion, and equipment purchases. Thirty million dollars total are available each year.  

Accion

Accion offers loans in all states for minority owned business.  They also serve veterans, women, and those with disabilities.  Low to medium income business owners may also be eligible. Loan amounts range from $200,000 to $300,000. They work to help build businesses from square one.  They can also put owners in contact with other banks, non-profits, and government resources to help build a network of support.

The minimum credit score for these loans is 575.  In addition, you cannot be 30 days late on credit cards, loan payments, or bills.  Late rent or mortgage payments over the past year will also disqualify you.

Community Development Financial Institutions Fund 

CDFI lends to communities that typically lack banking options.  This includes minorities. Since the Community Reinvestment Act of 1977, banks must offer funding in communities that find it hard to get traditional funding.  Big banks often fund minority business owners indirectly through their CDFI partners.  

To locate a CDFI, contact the local business development center.  Your local Small Business Development Center office should also be able to help.  

The application process can be long.  Thankfully, they do offer assistance to prepare for future bank loans as well.  

Union Bank Business Diversity Lending Program

This program from Union Bank assists minority business owners with loans and lines of credit. To qualify as a minority for the program, you must be Latinx, American Indian, Asian, Alaskan Native, African American, Native Hawaiian, or other Pacific Islander.   

Other requirements must be met as well.  For example, you must be in business for at least 2 years, and the minority business owner must own at least 51 percent. 

Indian Affairs

Native American business owners can get loans from the federal government.  These come through the Indian Affairs branch. You apply with any lending institution.  You just have to use the Indian Affairs application.  If the funds are for construction, renovation, or refinancing, there will be additional requirements.  Generally, a list of collateral, a credit report, and an analysis of business operations are necessary.

Camino Financial 

Camino is an online lender that offers minority business owners loans and business solutions.  All processes take place online, making it an easy option. Their microloans range from $5,000 to $50,000.  They also offer small business loans between $10,000 to $400,000. There is no collateral requirement. As a benefit, you can pay off the loan any time with no penalties or fees. 

Check out our professional research on bank ratings, the little-known reason why you will – or won’t – get a bank loan for your business. 

SBA Options for Minority Owned Business

In addition to these options, the Small Business Administration has some programs that may work well, though they are not for minorities only.

SBA Community Advantage Loans

Community advantage loans are for underserved communities that need less than $250,000.  Likewise, you can find lenders that work with the SBA on this program using the SBA Lender Match tool. 

SBA Microloans

They also have microloans available of up to $50,000.  Unlike others, these are offered through nonprofit organizations. With interest rates ranging from 8% to 13% and maximum repayment terms of six years, they can work well for minority business owners.

One of the SBA’s partners in this program is The Opportunity Fund.   According to them, 90% of its borrowers are minority business owners. 

SBA 7 (a) Loans

Like other SBA programs, these are not specifically for minorities.  Still, they are available to minorities the same as everyone else. They are 10-year loans of $30,000 to $350,000.  Rates range from 9.7% to 11.04%, and they can turn around in as little as 7 days. More often they take up to several weeks. 

Private Lender Options for Minority Owned Business

Again, these are not necessarily only for minorities.  However, many alternative lenders offer loans that work well.  Specifically, minority owned businesses sometimes struggle with meeting credit score requirements.  The following loans are available with a lower credit score than what most traditional lenders require. 

Fundbox

Surprisingly, there is no minimum credit score.  In fact, if you have at least $50,000 in annual revenue you can qualify for a line of credit from Fundbox.  Additionally, you also need to be in business for at least 3 months.  Amounts range from $1,000 to $100,000 with rates from 10.1% to 79.8%. Terms are for 12 weeks, and you can have your funds as quickly as the next business day.  

Kabbage

Another lender that will make loans on credit scores as low as 500 is Kabbage.  Terms are for 6, 12, or 18 months and amounts range from $2,000 to $250,000.  So interest rates are higher, at 24% to 99%. Funding can take several days, but sometimes happens in just a few minutes. 

QuarterSpot

QuarterSpot is another option.  Many prefer it, due to terms that go up to 18 months.  Loans range from $5,000 to $250,000, but rates are pretty high at 30% to 70%.  Nevertheless, approval can happen in as little as 24 hours. 

Credibility Capital

Loans with Credibility Capital range from $50,000 to $400,000.  Terms are for 1, 2, or 3 years, and rates range from 10% to 25%.  So like most, funding usually takes around 7 days.  

SmartBiz

SmartBiz offers low cost financing for expansion.  Unlike the others, these are SBA loans. However, with SmartBiz funding happens a lot faster than with traditional banks.  In fact, they can take a few weeks rather than a few months. 

A Minority Owned Business Has Additional Funding Options Available

It’s true.  In addition to the traditional options, there are other funding resources available to help minority business owners. While many of them, like grants, will not fully fund a business, they can all reduce the need for debt. The key is knowing where to find them and how to qualify.  The list above is a great starting point, but there is so much more. It’s worth the time it takes to dig in and see what is available. 

The post Additional Minority Owned Business Funding Sources are Available if You Know Where to Look  appeared first on Credit Suite.

What to Look for in a Financial Advisor

What to Look for in a Financial Advisor

Proficient monetary consultants do not have a certain appearance concerning them, also if they assert to have evidence of their capacity. To shield on your own, it is very important to ask the type of inquiries that will certainly suggest whether the possible expert has the requisite degree of ability to manage your economic events, or whether you must look in other places. If the expert under analysis can actually assist with your economic events, the list below basic inquiries will certainly aid you establish.
Capability and also high quality with consultants comes in the type of a pertinent tertiary education and learning, specialist subscriptions of economic advising teams, and also certifications or more certifications that reveal continuous expert growth. It is likewise essential to ask regarding size of experience in the monetary market, and also in certain exactly how long the person has actually been functioning as an expert.
This inquiry is vital as economic coordinators can bill per hour, job for retainer and also some job on a compensation basis. Each of these settlement networks bring in varying charge degrees, as well as this info will certainly affect your option of monetary expert.
One more superb scale of success and also capacity is testimonies, as well as particularly references. , if the economic coordinator you are taking into consideration can not give recommendations you need to be skeptical concerning any type of cases concerning previous success they might make.. The viewpoints of previous customers are superb signs of the capability of a monetary organizer.
Ask for a strategy. Any type of economic expert worth their cost will gladly describe the extent of their solutions, inform you what info you require to give them, and also deal with you throughout all pertinent locations to create a prepare for you to reach your economic objectives.

Qualified economic consultants do not have a specific appearance regarding them, also if they declare to have evidence of their capacity. To safeguard on your own, it is crucial to ask the kind of concerns that will certainly show whether the prospective expert has the requisite degree of ability to manage your economic events, or whether you must look somewhere else. The list below straightforward concerns will certainly assist you figure out if the consultant under analysis can truly assist with your economic events.

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An Inside Look at Google’s Future Plans

Everyone talks about algorithm updates, but Google does a
whole lot more than adjust algorithms.

Some of the moves they are making are really going to impact
your marketing efforts.

So, what are these non-algorithm changes?

Well before I get into them, keep in mind that you aren’t
going to like some of them, and that’s ok. Instead, I want you to focus your
energy on how you can leverage these changes before your competition.

Let’s get started…

Change #1: Google executives are big on “ambient
computing”

If you aren’t familiar with the concept of ambient computing,
here’s a quick definition:

Ambient computing is a term that encompasses many different concepts. At its core, it is the combination of hardware, software, user experience, and machine/human interaction and learning, all of these things becoming the idea of using a computer or internet-enabled device, without necessarily consciously using it.

In other words, Google wants you to use them 24/7 no matter
where you are or what you are doing. They are doing this by integrating
products everywhere.

Whether it is Nest, Android devices, Chromebooks, smartwatches, Google Home, or anything else they can drum up.

Because their mission is to spread the usage of all Google
related products, it will eventually open up new ways for you to drive traffic
and monetize.

An obvious example is to create apps on mobile devices that
work on Android phones. Uber, Netflix, and Candy Crush are all examples of apps
that work on Android devices.

You already know about apps, but I bet you don’t have one.

To give you an idea of how well you can do with a mobile
app, there are roughly 2 million mobile
apps, and there are over 13
billion mobile devices.

Of course, a lot of those devices are old or in landfills. But still, there aren’t that many apps for how many mobile devices that exist. Especially when you consider that there are over 1,518,207,414 websites.

In other words, there are 759 times more websites than
apps, so consider creating one. 😉

If you don’t know how you can always use services like Build Fire.

And in addition to apps, you’ll need to start looking at generating traffic through all voice devices. Phones, watches, and even the smart home assistants that Google is creating leverage voice search.

Using tools like Jetson.ai
will help you create a voice version of your website so you can collect sales
and leads.

If you don’t think voice search is that important, 50% of searches are now voice-based.

Again, just like an app, I bet you don’t a voice search version of your website.

Question is, are you going to create one first or is your competition?

Change #2: Future generations are more likely to be
hooked on Google devices

Do you have a Chromebook? Chances are you
don’t.

But if you have kids, or nieces or nephews, ask them if they
have ever used a Chromebook.

Chromebooks are not only affordable, but they are taking
over the world, at least when it comes to millennials and generation z.

Just look at the percentages
of schools that use Chromebooks.

In some countries like the United States, 60% of the schools
use Chromebooks.

That’s a ridiculously high percentage.

Apple has also been trying to penetrate classrooms, but they
haven’t been having the same success as Google.

All this means is that kids are going to grow up using
Google devices and fall into their ecosystem.

Sure, social sites like Instagram, Tiktok, or whatever else is new will always be popular, but the chances are these young kids will get to those sites using a Google device.

Even though Google isn’t as sexy as it once was, you shouldn’t
take it for granted. It’s not going anywhere, and future generations will
continue to leverage them. Just don’t drop your eye on Google and you’ll be
fine.

Change #3: Expect Google to buy someone big in the
ecommerce space

When you think of ecommerce, what name comes to mind?

I bet you are thinking of Amazon.

We all use Amazon and, of course, every major tech company wants a slice of the ecommerce market.

Even when I’m using a search engine to find something to
buy, I usually click on an Amazon listing because we all love their Prime
shipping feature.

Google’s been trying to take a piece of that market for years. From shopping actions to Google Shopping nothing has really been too effective.

As consumers, we are just trained to go to Amazon to buy stuff.

And if you aren’t going to Amazon, you are probably going to Walmart or one of their online stores that they own all around the world.

To make matters worse, Walmart has removed all of its products from Google Shopping.

Google hasn’t made any big ecommerce or commerce purchases in general but you can expect that to change.

They may decide to buy a grocery delivery company like Instacart, but knowing them, I believe they will stick with the software, just like most things that they are doing.

Expect them to go after Amazon by helping people create
their own ecommerce site. Whether it is through a Shopify
acquisition or Bigcommerce or any other
platform out there, they want to own the ecommerce market.

It’s going to be too tough to go head-on with Amazon, and that’s I think they will take a different route and go after a platform like Shopify.

If you are selling products online you should, of course, be on Amazon, but don’t rely on them. Make sure you have your own website and look to see what platform play Google makes as you may eventually want to consider moving over to whatever they buy.

Change #4: Google will dominate the hardware industry

And no, I don’t mean they are going to create something
better than an iPad or an iPhone.

Apple, at its core, is a hardware company and they are clearly the winner when it comes to producing amazing devices that we use. But there is a big issue with Apple devices and even Samsung devices.

They are expensive.

If you want to buy a brand new iPhone, expect to drop $699 for the lowest model.

Google, on the other hand, does have high-end devices, but they also try and produce affordable devices. They also let other manufacturers use their operating system for their phones.

Their goal isn’t to make the most money per phone. Their goal is to get everyone in the world using their hardware.

Why?

Because that means they are collecting more data and that allows them to generate the most amount of money from advertising because all of these devices drive people to their search engine that is filled with ads.

It’s a pretty smart move.

I highly recommend that you watch this…

They aren’t just using this strategy with their phones, they
are trying to make all of their products affordable. That way people all over
the world can afford them.

Because if you live in places like Brazil or India, Apple
devices are too expensive, which leads people to choose a Google device.

Less than 5% of the world lives in the United States… the money is in the global markets.

If you are debating which platform to build on, consider Google, even if it isn’t the sexiest due to sheer volume. Android’s market share is roughly 87% because of its affordable hardware and partnerships.

Change #5: Expect Google Ads to go offline

Right now you mainly see ads on their search engine.

Yes, you will also find ads on some of their other properties like Maps, but expect them to be everywhere.

For the first time, the 2019 digital ad spend overtook traditional ad dollars in the United States.

But still, ad dollars offline is more than a hundred billion-dollar industry, and that’s just in the United States.

Over the next few years, I bet you’ll see Google dip into offline advertising.

Just think of it this way. Google owns Waymo, a self-driving Uber type of service that is growing fast in popularity.

They have data from the Google devices in your home and the watch on your wrist and they know where you going through Waymo… essentially, they have more data on you than anyone else.

Heck, they are even starting to offer checking
accounts.

With all of that data, who better to serve you offline ads?
They’ll be able to target people better and make them more relevant.

This will also increase the value (cost) of offline ads as
well as online ads in the long run.

Change #6: Search results won’t look the same in the
future

You are probably going to hate this change the most, but it
will also make their search engine more usable.

They are testing a lot of different ad types.

For example, as a business, you can collect leads through Google.

And eventually, you’ll just be able to book a hotel room right on their search engine without going to the hotel’s website.

The same will happen with mortgages, auto insurance, and many more industries.

This doesn’t mean that SEO will be dead or no one will go to
your site from search engines, it just means you will have to adapt.

For example, you can create educational-based content, rank highly, and when people land on your website, you can convert them through sales funnels.

You can also use tools like Hello
Bar to create sliders and popups to drive visitors to your money pages.

Conclusion

The future isn’t going to look the same. Companies like
Tesla aren’t the only ones who are innovating, most big companies are.

Don’t expect Google to just stay the same and not adapt just
like every other tech company is trying to do.

It’s the only way to stay ahead and win.

As marketers and entrepreneurs, Google won’t be the only one
disrupting how you are growing your sales and traffic. But instead of getting
upset or complaining, accept it.

Be productive with your time and focus on adapting. Because
when you are adapting while your competition is complaining, you’ll win.

What other changes do you see Google making in the
future?

The post An Inside Look at Google’s Future Plans appeared first on Neil Patel.

Get a Look at Instant Approval Business Credit Cards

Check Out Instant Approval Business Credit Cards We looked at a lot of instant approval business credit cards, and did the research for you. So here are our picks. Per the SBA, small business credit card limits are a whopping 10 – 100 times that of personal credit cards! This reveals you can get a … Continue reading Get a Look at Instant Approval Business Credit Cards

Get a Look at Instant Approval Business Credit Cards

Check Out Instant Approval Business Credit Cards

We looked at a lot of instant approval business credit cards, and did the research for you. So here are our picks.

Per the SBA, small business credit card limits are a whopping 10 – 100 times that of personal credit cards!

This reveals you can get a lot more funds with small business credit. And it also means you can have personal credit cards at stores. So you would now have an extra card at the same stores for your company.

And you will not need collateral, cash flow, or financial data in order to get business credit.

Instant Approval Business Credit Cards: Benefits

Perks can differ. So, make sure to pick the benefit you would prefer from this array of alternatives.

Instant Approval Business Credit Cards: Ironclad Secured Credit Cards

Wells Fargo Business Secured Credit Card

Take a look at the Wells Fargo Business Secured Credit Card. It charges a $25 yearly fee per card (up to 10 employee cards). It also requires a minimum security deposit of $500 (up to $25,000) and it is designed to help cardholders build or rebuild their credit.

Pick this card if you want to get 1.5% per dollar in purchases without any limits or earn one point for every dollar in purchases. You also get 1,000 bonus points for every month your company makes $1,000 in purchases on the card.

Details

Also, you get free FICO scores every month. There are no foreign transaction fees. It is possible to upgrade to unsecured credit. Your account is regularly reviewed. And you may become eligible for an upgrade to an unsecured card with responsible use over time. Approval is not guaranteed and depends on factors including how you manage this and your other accounts.

APR is the current prime rate plus 11.90%. There is no introductory APR period and no sign-up bonus. This is not a card for balance transfers.

Get it here: https://www.wellsfargo.com/biz/business-credit/credit-cards/secured-card/

Instant Approval Business Credit Cards for Average Credit

Capital One® Spark® Classic for Business

For average credit, we like the Capital One Spark Classic for Business. It has no yearly fee. There are cash-back rewards. The card gets an unlimited 1% cash back on all purchases. There is an annual fee of $0.

With this card, you will get benefits including an auto rental collision damage waiver, and purchase security. And you also get extended warranty coverage. And you get travel and emergency assistance services.

But BEAR IN MIND: the ongoing APR is 24.74% variable APR. And the penalty APR is even higher, 31.15%. Also, there is no sign-up bonus.

Get it here: https://www.capitalone.com/small-business/credit-cards/spark-classic/

Establish business credit fast with our research-backed guide to 12 business credit cards and lines.

Instant Approval Business Credit Cards for Credit Building

Discover it® Student Cash Back

Make sure to check out the Discover it® Student Cash Back card. It has no annual fee. The credit card also has a six-month introductory period of 0% APR on purchases. And there is an APR of 14.99 – 23.99% variable on all purchases after that period.

One special feature is that it provides an incentive for scholars to maintain good grades with a $20 statement credit. If scholars earn a GPA of 3.0 or better each school year, the card will award the $20 statement credit annually for up to five years.

Details

Use this card to build personal credit. While this is a personal card versus a business credit card, for new credit users, their FICO scores will matter. And this credit card offers an excellent way to raise FICO while also getting rewards.

You can get 5% cash back at different places each quarter like grocery stores, gas stations, restaurants or Amazon.com up to the quarterly maximum. After that, this credit card offers unlimited 1% cash back on all purchases.

In the first year, all cash back rewards are matched 100%.

Downsides include a cash advance fee of either $10 or 5% of the amount of each cash advance, whichever is greater. And though they waive the first late payment fee, a fee of up to $37 applies on all other late payments. There is also a returned payment fee of up to $37.

Get it here: https://www.discover.com/credit-cards/cash-back/it-card.html

Instant Approval Business Credit Cards for Low APR/Balance Transfers

Discover it® Cash Back

Take a look at the Discover it® Cash Back card. There is a 10.99% introductory APR for six months from date of first transfer. So, this is for transfers under this offer which post to your account by January 10, 2019.

After the introductory APR expires, your APR will be 14.99% to 23.99%. So, this is based on your creditworthiness. Your APR will vary with the market, which is based on the Prime Rate.

Details

You can earn 5% cash back at different places every quarter. So, these are establishments like gas stations, grocery stores, restaurants, Amazon.com, or wholesale clubs. But this is up to the quarterly maximum each time you activate. Additionally, automatically earn unlimited 1% cash back on all other purchases.

You will earn an unlimited dollar-for-dollar match. This is for all the cash back you have gotten at the end of your first year, automatically.

Get it here: https://www.discover.com/credit-cards/cash-back/it-card.html

Instant Approval Business Credit Cards with 0% APR – Pay Absolutely Nothing!

Capital One® Quicksilver® Card

Take a look at the Capital One® Quicksilver® Card. It features flat-rate rewards of 1.5% on all purchases. There are no limits how much in cash back rewards that cardholders can attain. Also, the card has a $0 yearly fee.

Details

New cardholders have a 0% APR on purchases and balance transfers for the first 15 months after opening the account. And then they have a 14.74 – 24.74% (variable) APR after that. A cash bonus of $150 goes to those who make a minimum of $500 on purchases. So this is in 3 months of account opening.

Also, cash back rewards do not expire for the life of the account. And there is no limit to how much you can earn.

Moreover, there is a cash bonus of $150 is available to cardholders. This is if you make a minimum of $500 on purchases within 3 months of account opening.

The card also offers travel accident insurance. And you can get an auto rental collision damage waiver. There are no foreign transaction fees. And there is extended warranty coverage.

Downsides are the flat reward rate, not allowing for any more than that. And then there’s the higher APR after the initial 15 months.

Get it here: https://www.capitalone.com/credit-cards/quicksilver/

Bank of America® Business Advantage Travel Rewards World Mastercard® Credit Card

The Bank of America® Business Advantage Travel Rewards World Mastercard® credit card has no yearly fee and comes with a 0% introductory APR on purchases for the initial nine months. After that, the card has a 13.24 – 23.24% variable APR

Earn 3 points/dollar spent when you book travel with the Bank of America Travel Center and 1.5 points/dollar on all other purchases. You can earn unlimited points and points will never expire.

Details

There is a 25,000-point sign-up bonus when you spend $1,000 in the initial 60 days of opening up the account. Cardholders get travel accident insurance, and lost luggage reimbursement.

They additionally get trip cancellation coverage, trip delay reimbursement and other benefits.

There is no introductory rate for balance transfers. Also, bonus categories are limited.

Get it here: https://www.bankofamerica.com/smallbusiness/credit-cards/products/travel-rewards-business-credit-card/

JetBlue Plus Card

Have a look at the JetBlue Plus Card for an additional offer of a 0% introductory APR

Earn six points/dollar on JetBlue purchases, two points/dollar at eating establishments and grocery stores. And get one point/dollar on all other purchases.

Details

Spend $1,000 in the first 90 days and pay the yearly fee, and earn 40,000 bonus points. New cardholders receive a 12 month, 0% initial APR on balance transfers made within 45 days of account opening.

Thereafter, the variable APR on purchases and balance transfers is 17.99%, 21.99% or 26.99%, based on creditworthiness. Benefits include a free first checked bag and 50% savings on in-flight purchases.

There is a $99 yearly fee for this card.

Get it here: https://cards.barclaycardus.com/cards/jetblue-card/

Establish business credit fast with our research-backed guide to 12 business credit cards and lines.

Instant Approval Business Credit Cards with No Annual Fee

Uber Visa Card

Check out the Uber Visa Card. Uber is the very first ride-sharing service to offer a credit card, in a partnership with Visa and Barclays.

The card offers 4% back per dollar spent at restaurants, takeout and bars, including UberEATS. Also, earn 3% back on hotel, airfare and vacation home rentals. And get 2% back on online purchases.

So, this includes retailers and subscription services like Uber and Netflix. And get 1% back on all other purchases. Each percent/point has a value of 1 cent. Redeem points for cash back, gift cards or Uber credits directly in the app.

By spending at least $500 in the initial 90 days, users can earn a $100 sign-up bonus. Cardholders spending at least $5,000 per year are eligible to receive a $50 credit toward online subscription services.

Details

Pay your cell phone bill with this card, and get insurance up to $600 for cellphone damage or theft.

Cardholders are eligible for exclusive access to specific events and offers. Uber expects most of these offers to be available in major cities. These are places like New York, San Francisco, Los Angeles, Chicago and DC. There is no foreign transaction fee.

But there is no introductory rate. The APR is a variable 16.99%, 22.74% or 25.74%, based on your creditworthiness. Cardholders with less than stellar credit will be on the higher end of the range.

Also, there are restrictions on Uber credits. To redeem points as credits within the Uber app, accumulate at least 500 points, or $5. Cardholders can convert a maximum of 50,000 points, or $500, in a given day.

Get it here: https://www.uber.com/c/uber-credit-card/

Costco Anywhere Visa® Business Card by Citi

Not taking Uber? Then you’ll want to fill your gas tank somehow. Why not do so with the Costco Anywhere Visa® Business Card by Citi?

This credit card earns cash back with every purchase. Get 4% cash back on the first $7,000 spent on eligible gas purchases annually (1% after that). Get 3% cash back at restaurants and on eligible travel purchases. Also, earn 2% cash back at Costco and Costco.com. And earn 1% cash back on all other purchases.

Keep in mind: the $0 annual fee is only for Costco members. And an active Costco membership is required. Cardholders will get access to damage and theft purchase protection, extended warranty coverage and travel accident insurance.

Also, there is no sign-up bonus available with this card.

Get it here: https://www.citi.com/credit-cards/credit-card-details/citi.action?ID=Citi-costco-anywhere-visa-business-credit-card

Ink Business Cash℠ Credit Card

Look at the Ink Business Cash ℠ Credit Card. Companies can get cash back with each purchase. Spend $3,000 in the initial three months from account opening. And you’ll get a $500 bonus cash back.

There is a $0 annual fee with a 0% introductory APR for 12 months on purchases and balance transfers. After that, the APR is a 15.24 – 21.24% variable.

The card comes with travel and purchase coverage benefits. So, this includes an auto rental collision damage waiver and extended warranty protection.

Details

Earn additional cash back on business categories. So, these include office supply stores, telecommunications, gas stations and restaurants.

Note: this card has a balance transfer fee. Pay 5% of the amount transferred or $5, whichever is greater. Also, there is a foreign transaction fee of 3%.

Get it here: https://creditcards.chase.com/small-business-credit-cards/ink-cash

United MileagePlus Explorer Business Card

Get a good look at the United MileagePlus Explorer Business Card.

Get 2 miles/dollar with United and at restaurants, filling stations and office supply stores. All other purchases earn 1 mile/dollar. Earn a 50,000-mile sign-up bonus after spending $3,000 in the initial three months from account opening.

Benefits include priority boarding, a free first checked bag for you and a companion on the same reservation.

Details

Also, get two United Club passes annually. And get hotel and resort perks including upgrades. Additionally, get early check-in and late checkout. And get an auto rental collision damage waiver.

Also, get baggage delay insurance, lost luggage reimbursement, trip cancellation and interruption insurance. Finally, get trip delay reimbursement, purchase protection, price protection and concierge service.

After the first year, the card has an annual fee of $95. APR of 17.99% – 24.99%, based on creditworthiness.

Get it here: https://creditcards.chase.com/small-business-credit-cards/united-mileageplus-explorer-business

Starwood Preferred Guest® Business Credit Card from American Express

Another option is the Starwood Preferred Guest Business Credit Card from American Express.

This card is for those who stay at Starwood Preferred Guest and Marriott hotels often. Earn six points per dollar of eligible purchases at participating SPG and Marriott Rewards hotels.

And get four points per dollar at US restaurants, American gas stations, and on American purchases for shipping.

Also, earn four points to the dollar on wireless telephone services purchased directly from US service providers. For all other eligible purchases, get two points per dollar.

Details

Get 75,000 bonus points when you spend $3,000 in the initial three months of account opening. Benefits include free in-room premium internet access, Sheraton Club lounge access, and purchase protection.

Plus you get car rental loss and damage insurance. And you get baggage insurance. There is also a global assistance hotline. And there is a roadside assistance hotline. And get travel accident insurance and extended warranty coverage.

The most significant issue is the annual fee. There is a $0 introductory annual fee for the first year, then it’s $95 afterwards. Plus there is no 0% introductory APR. Instead, there is a 17.74 – 26.74% variable APR

Get it here: https://www.americanexpress.com/us/credit-cards/business/business-credit-cards/spg-amex-starwood-credit-card

Instant Approval Business Credit Cards for Cash Back

SimplyCash Plus Business Credit Card from American Express

Look at the SimplyCash Plus Business Credit Card from American Express. There is a $0 yearly fee. And there is a 0% APR on purchases So this is for the first 15 months an account is open.

But when the introductory period ends, the APR for purchases is 14.24 to 21.24%. So, this is variable and based on creditworthiness.

Details

This credit card has various benefits. These include purchase protection, car rental loss and damage insurance. And they also include a baggage insurance plan, extended warranty coverage and a global assist hotline.

Also, earn 5% cash back at US office supply stores and on wireless phone services. So, these must be purchased from American service providers. But this pertains to the initial $50,000 of annual spending. Then, you get 1% cash back.

You also earn 3% cash back on spending category of your choice. So, this is from eight distinct categories. They include airfare, gas, advertising and computer purchases. But it applies to the first $50,000 of annual spending. Then, you earn 1% cash back.

Cash-back bonuses are automatically credited to the customer’s billing statement.

Note: you cannot use this card for balance transfers. There is a foreign transaction fee of 2.7%. The card charges up to $38 in late fees. And the returned check fee is also $38. The penalty APR is 29.99%.

And, it kicks in if you have two or more late payments within 12 months. It can also apply if you fail to make the minimum payment on time or have a returned payment.

Get it here: https://www.americanexpress.com/us/small-business/credit-cards/simply-cash-plus-business-credit-card/44279

Establish business credit fast with our research-backed guide to 12 business credit cards and lines.

The Perfect Instant Approval Business Credit Cards for You

Your absolute best instant approval business credit cards hinge on your credit history and scores.

Only you can choose which features you want and need. So be sure to do your homework. What is outstanding for you could be catastrophic for other people.

And, as always, make certain to establish credit in the recommended order for the best, fastest benefits.

 

 

The post Get a Look at Instant Approval Business Credit Cards appeared first on Credit Suite.