Tag: Want

Straight Talk: Is Divvy Really a Tool You Want In Your Business Toolbox?

We all have tools. I’m not just talking about hammers and nails. We have kitchen tools, lawn care tools, tools we use in the office, even tools we use to care for our pets and our children.  Business owners have tools they use for many things, including managing finances. Is Divvy a tool that business owners need in their toolbox? Let’s find out.

Find Out If Divvy Is Right For Your Business

There are a number of money management tools on the market. We’re digging in with Divvy to find the good, the bad, and the ugly so you can make an informed decision for your business.

What Divvy Is, and What It Isn’t

What is Divvy? At its core, it is an expense management system. In fact, it was recently acquired by Bill.com, due to the fact that Bill.com had an increasing number of customers looking for help with money management.

Check out how our reliable process will help your business get the best business credit cards.

It is designed to help businesses manage their business finances by integrating with accounting systems and helping them control spending in a streamlined manner. That is what Divvy is.

It is not meant to be a business funding option on its own. It does offer a charge card option that allows for business funding, and even helps build business credit. However, it’s purpose is to be another spending management tool.  If it were a hammer, this card would be the backside that pulls the nails out. You buy a hammer to hammer nails. The other side is useful, but generally you don’t use a hammer simply to pull nails. It works for that, but that is not it’s main purpose.

Money Management Tool

They offer a lot of great money management products for managing spending, expenses, and accounts payable. The system allows you to see transactions in real time, and send funds in seconds via mobile or desktop.

You can also issue cards to employees, either virtual or physical cards, and give them direct access to funds with a spending limit you set. This not only cuts down on expense reports, but also helps with budget management. That is the main purpose of the card.

The system currently integrates with Quickbooks Online and Oracle Netsuite.  Integration with Xero and Quickbooks Desktop is coming soon.

On the accounts payable side, you can seamlessly receive invoices, get approvals, and send payment by either ACH, check, or virtual card. It’s truly an easy and innovative way to streamline processes and manage spend. However, there is currently a waitlist for accounts payable services.

Building Business Credit

So, what’s the deal with Divvy and business credit? They do offer a business card. They have more than one way of underwriting so that if you do not qualify with traditional underwriting, they can look at other factors for approval. There is really no elaboration on what these may be.  But, often it is monthly income, time in business, and the like.

So, if you do not qualify for other cards, you may qualify for this one. The main point of the card however, is that it is attached to the Divvy system. That means, if you distribute cards or virtual cards to employees, you can see their spending in real time. It offers business owners more control.

Check out how our reliable process will help your business get the best business credit cards.

They report positive payment history to  the Small Business Finance Exchange. That means this card does help you build your business credit score, because the SBFE reports information to Dun & Bradstreet.  Since only 7% of companies that offer credit to businesses actually report positive history, this is big.  One of the largest obstacles to building business credit is finding accounts that will report positive history.  Most only report missed payments.

The thing about business credit building is, one account reporting is just not enough. Your business has to be set up properly to be fundable to begin with.  Also, you need a lot more accounts that will report before you have a business credit score at all.  That in itself is a challenge. This is where a program like the Credit Suite Business Credit Builder can be helpful, because it walks you through the process of setting up to be fundable, finding accounts that will report, and applying for them at the right time so that you actually qualify.

Divvy’s Online Reputation

If you look at online reviews, you are going to get a mixed bag. Most of the negative reviews and complaints come from those looking for a business credit card.  They are not looking for money management services. Those looking for money management services seem to be pleased.

It does appear that maybe they are not clear on a lot of things, or at least they do not make the information easy to find, pertaining to how the card works and rewards. For example, one complaint was that this is a charge card, not a credit card.  That means the balance must be paid in full each month. This would explain why there is no interest rate information, as there is no interest since the card carries no balance.

After a lot of digging around I did confirm that the Divvy card is a charge card used to pull against a line of credit.  It is not a credit card, and therefore you cannot carry a balance. This information was definitely not easy to find on the website, and they refer to the card as a credit card multiple times.

Check out how our reliable process will help your business get the best business credit cards.

Another complaint noted that card rewards are not earned unless you use at least 30% of the credit line. I could not verify this. There is no mention of it that I could find. That doesn’t mean it isn’t there, but it certainly is not out front information.

There were many positive reviews from those who were using the service mainly for money management.

They have a D+ rating at BBB.org. However, the fact that the business is only 3 years old and there are only a handful of reviews and complaints, skews this grade. People are much more likely to report negative experiences to the Better Business Bureau. Any negative report is going to bring the grade down very quickly.

It’s important to note also that the company did respond to the complaints and worked to make them right if they were in the wrong.

What’s the Final Word on Divvy?

This is a new company, and it appears to be making its way well among the new-ish niche of money management options.  They offer what appears to be smooth integration with common accounting systems.  Their charge card allows for spend control and options for managing cash flow.  It is an added bonus that they report on-time payments to your business credit profile.

In conclusion, this is a great tool for money management. One major reason for this is that they can help you build credit for your business.  If you are looking for a money management option for your business tool box, it’s a solid choice. Apply for Divvy now. If you are mainly looking for a business credit card, you may be better off with something else.

The Credit Suite Business Credit Builder can help you position your business to qualify for all the funding you will ever need, and help you find the best vendors for your business at the same time.  Sign up for a free business credit consultation today.

The post Straight Talk: Is Divvy Really a Tool You Want In Your Business Toolbox? appeared first on Credit Suite.

Straight Talk: Is Divvy Really a Tool You Want In Your Business Toolbox?

We all have tools. I’m not just talking about hammers and nails. We have kitchen tools, lawn care tools, tools we use in the office, even tools we use to care for our pets and our children.  Business owners have tools they use for many things, including managing finances. Is Divvy a tool that business owners need in their toolbox? Let’s find out.

Find Out If Divvy Is Right For Your Business

There are a number of money management tools on the market. We’re digging in with Divvy to find the good, the bad, and the ugly so you can make an informed decision for your business.

What Divvy Is, and What It Isn’t

What is Divvy? At its core, it is an expense management system. In fact, it was recently acquired by Bill.com, due to the fact that Bill.com had an increasing number of customers looking for help with money management.

Check out how our reliable process will help your business get the best business credit cards.

It is designed to help businesses manage their business finances by integrating with accounting systems and helping them control spending in a streamlined manner. That is what Divvy is.

It is not meant to be a business funding option on its own. It does offer a charge card option that allows for business funding, and even helps build business credit. However, it’s purpose is to be another spending management tool.  If it were a hammer, this card would be the backside that pulls the nails out. You buy a hammer to hammer nails. The other side is useful, but generally you don’t use a hammer simply to pull nails. It works for that, but that is not it’s main purpose.

Money Management Tool

They offer a lot of great money management products for managing spending, expenses, and accounts payable. The system allows you to see transactions in real time, and send funds in seconds via mobile or desktop.

You can also issue cards to employees, either virtual or physical cards, and give them direct access to funds with a spending limit you set. This not only cuts down on expense reports, but also helps with budget management. That is the main purpose of the card.

The system currently integrates with Quickbooks Online and Oracle Netsuite.  Integration with Xero and Quickbooks Desktop is coming soon.

On the accounts payable side, you can seamlessly receive invoices, get approvals, and send payment by either ACH, check, or virtual card. It’s truly an easy and innovative way to streamline processes and manage spend. However, there is currently a waitlist for accounts payable services.

Building Business Credit

So, what’s the deal with Divvy and business credit? They do offer a business card. They have more than one way of underwriting so that if you do not qualify with traditional underwriting, they can look at other factors for approval. There is really no elaboration on what these may be.  But, often it is monthly income, time in business, and the like.

So, if you do not qualify for other cards, you may qualify for this one. The main point of the card however, is that it is attached to the Divvy system. That means, if you distribute cards or virtual cards to employees, you can see their spending in real time. It offers business owners more control.

Check out how our reliable process will help your business get the best business credit cards.

They report positive payment history to  the Small Business Finance Exchange. That means this card does help you build your business credit score, because the SBFE reports information to Dun & Bradstreet.  Since only 7% of companies that offer credit to businesses actually report positive history, this is big.  One of the largest obstacles to building business credit is finding accounts that will report positive history.  Most only report missed payments.

The thing about business credit building is, one account reporting is just not enough. Your business has to be set up properly to be fundable to begin with.  Also, you need a lot more accounts that will report before you have a business credit score at all.  That in itself is a challenge. This is where a program like the Credit Suite Business Credit Builder can be helpful, because it walks you through the process of setting up to be fundable, finding accounts that will report, and applying for them at the right time so that you actually qualify.

Divvy’s Online Reputation

If you look at online reviews, you are going to get a mixed bag. Most of the negative reviews and complaints come from those looking for a business credit card.  They are not looking for money management services. Those looking for money management services seem to be pleased.

It does appear that maybe they are not clear on a lot of things, or at least they do not make the information easy to find, pertaining to how the card works and rewards. For example, one complaint was that this is a charge card, not a credit card.  That means the balance must be paid in full each month. This would explain why there is no interest rate information, as there is no interest since the card carries no balance.

After a lot of digging around I did confirm that the Divvy card is a charge card used to pull against a line of credit.  It is not a credit card, and therefore you cannot carry a balance. This information was definitely not easy to find on the website, and they refer to the card as a credit card multiple times.

Check out how our reliable process will help your business get the best business credit cards.

Another complaint noted that card rewards are not earned unless you use at least 30% of the credit line. I could not verify this. There is no mention of it that I could find. That doesn’t mean it isn’t there, but it certainly is not out front information.

There were many positive reviews from those who were using the service mainly for money management.

They have a D+ rating at BBB.org. However, the fact that the business is only 3 years old and there are only a handful of reviews and complaints, skews this grade. People are much more likely to report negative experiences to the Better Business Bureau. Any negative report is going to bring the grade down very quickly.

It’s important to note also that the company did respond to the complaints and worked to make them right if they were in the wrong.

What’s the Final Word on Divvy?

This is a new company, and it appears to be making its way well among the new-ish niche of money management options.  They offer what appears to be smooth integration with common accounting systems.  Their charge card allows for spend control and options for managing cash flow.  It is an added bonus that they report on-time payments to your business credit profile.

In conclusion, this is a great tool for money management. One major reason for this is that they can help you build credit for your business.  If you are looking for a money management option for your business tool box, it’s a solid choice. Apply for Divvy now. If you are mainly looking for a business credit card, you may be better off with something else.

The Credit Suite Business Credit Builder can help you position your business to qualify for all the funding you will ever need, and help you find the best vendors for your business at the same time.  Sign up for a free business credit consultation today.

The post Straight Talk: Is Divvy Really a Tool You Want In Your Business Toolbox? appeared first on Credit Suite.

The post Straight Talk: Is Divvy Really a Tool You Want In Your Business Toolbox? appeared first on BUSINESS DEMO WEBSITES.

The post Straight Talk: Is Divvy Really a Tool You Want In Your Business Toolbox? appeared first on Buy It At A Bargain – Deals And Reviews.

Ruggs' attorneys want medical records sealed

Attorneys for former Raiders wide receiver Henry Ruggs III are fighting to keep his medical records out of the hands of prosecutors charging him with driving under the influence in a fiery crash that killed a woman and cost Ruggs his NFL job. The post Ruggs' attorneys want medical records sealed appeared first on Buy … Continue reading Ruggs' attorneys want medical records sealed

10 Google Secrets You’ll Want to Know

Do you consider yourself a Google expert? Think you know all the ins and outs of the search behemoth?

If you answered yes to either of those questions, you might be in for a surprise.

Google contains myriads. The search giant constantly evolves its algorithms and offerings, from secret search functions to in-house SEO guides.

Read on to learn more about Google’s secrets.

1. Google Has Advanced Search Functions: Boolean Operators

We’re all incredibly familiar with the Google search bar, given that 84 percent of us admit to searching Google at least three times a day. However, the search engine also comes equipped with some pretty cool, advanced search functions many don’t know about. These built-tools range from a hashtag search function guides that enable users to optimize for search engine optimization (SEO) and everything in between.

Below, we break down the four most useful secret Google search functions so you can start mastering these secret tricks.

Search for Similar Google Results With Related

Adding “related:” to your search terms lets you include similar or identical topics. This can be beneficial in broadening your search but allow you to keep the results in the same thematic area.

This search feature can aid online business owners or marketers in identifying competitors. By assessing business type, content, and category, Google can show vendors offering similar products and services. This often makes research into competitor search ranking, social strategy, and other marketing functionality easier.

Searching Social Media Profiles and Mentions With Google

With over 49 percent of the global population using social media, it’s safe to say there’s an overwhelming amount of profiles to sort through.

With the social media search Google secret, you can use the @ symbol followed by the handle of an account. Google will compile results for that user, including web pages and tweets.

Google Secrets - Google Has Advanced Search Functions

You can also narrow your search by typing those terms followed by the site you want to search, like Twitter. This could show you the person’s account, mentions of their account, and accounts using similar handles or owned by people with the same actual name.

This can help you isolate mentions of competitors or brands you want to explore further.

Use Google to Search for Hashtags

Much like the above @ function, you can find much more than profiles with Google search functions.

Use the # symbol to aggregate hashtag results, including the social presence associated with the words or phrases.

For example, if you search #digitalmarketing and change the search date to the past 24 hours under “Tools,” you’ll see the most recent posts across social media that discuss digital marketing.

Google Secrets - Hashtag Search

If you want a tight lens, change the result type to verbatim using quotation marks—”#digitalmarketing”—to exclusively see the use of the hashtag.

This search functionality lets marketers see which keywords align with your brand’s message while simultaneously investigating how competitors use social media.

Google Lets You Access a Site’s Cache

From identifying how frequently your site is crawled to relaying information about a page that’s currently down, you can learn a lot from caches.

To access the saved copy of a website, simply use the cache: search command before a site’s URL.

You can view the most recent version of a site within the cache copy, so don’t expect to find a years-old draft.

Within the cached copy, you can view the full version, text-only version, or view source. You will also see the timestamp and snapshot taken by Google.

2. Google Makes Thousands of Updates Each Year

While in its infancy, Google didn’t make many updates to its algorithms annually. Now, the algorithm is updated countless times a year.

Why should you care about this (fairly open) Google secret?

Updates mean changes to how pages display in the search engine result pages (SERPs) and can impact your search visibility.

While these updates have historically ranged from removing spam to ad placement on the SERPs, there’s a significant update on the horizon impacting how marketers gather information about their intended audience.

Google plans to remove all third-party cookies from its engine. Used as a tool for tracking individual movement across the web, cookies have not only long been a marketer’s best friend but also a security threat.

While cookie removal is a massive update, tons of additional updates can impact your digital strategy in other ways.

To stay ahead of these updates, take steps to ensure that you build agile, editable sites and pages that can roll with the changes, setting you up for digital success.

3. Google Knows When Users Exit a Page [Bounce Rate]

Have you struggled to boost email sign up, increase site search traffic, or get more leads?

If you answered yes, the root cause of your problem may be your bounce rate.

Your bounce rate refers to the number of individuals who visit your landing page and leave without conducting any other interaction.

Bounce rates are important metrics because they allow you to understand audience on-page behavior.

And Google has a clear record of this behavior through Google analytics.

If you’re experiencing high bounce rates and struggling to achieve your marketing goals, don’t fret. There are several steps you can undertake to reduce your bounce rate:

Improve Content Readability

Does your content look like one big chunk?

If so, you need to break it up.

Ideally, your content should be quick and consumable. Here are a few tips for making your pages more readable:

  • Use images to break up the labor of reading.
  • Use quotes to underscore reliability and break up the text.
  • Use subheading.
  • Bold keywords.
  • Ask questions to engage readers.
  • End your landing page or content with a subheading titled conclusion.

Write Strong Meta Descriptions

Meta descriptions are HTML attributes that explain what a searcher can anticipate finding on a given page. Search engines use these descriptions to determine what your page is about.

Google Secrets - Meta Descriptions

Ideally, meta descriptions should be 155 characters long. If you exceed this length, the searcher will see an ellipsis (…) at the end of the description. This can result in a higher bounce rate since your site may not have been adequately described.

To optimize your meta descriptions, try to reach that ideal character length of 155 and include relevant keywords.

Use Interactive Content

Are you looking to engage site visitors? There’s no better strategy than using interactive content.

Interactive content entices users to take action rather than simply bouncing from your site. This way, you can lead visitors to explore your site to learn more about your organization.

Examples of interactive content include infographics, e-books, lookbooks, quizzes, and checklists, all of which create and maintain engagement.

4. Google Releases Their Own SEO Guides

While some things at Google may seem hidden, Google releases its own SEO guides.

These tools vary depending on skill level and familiarity and even include a starter guide and developer guide.

These guides cover nearly everything you need to know about succeeding with SEO on Google.

5. Google Holds Secret Conferences

For the last decade, Google has hosted an event dubbed Google Camp during the summer.

Don’t let the cutesy name fool you—this isn’t a bootcamp for coders or developers.

It’s a star-studded meeting of the minds that occurs during the summer months.

Annually themed, the camp has covered humanitarian topics like global warming and education.

You can find former presidents and current starlets, fashion designers, and tech leaders attending these events.

And while admittance to this event is highly selective (not to mention expensive), attendees allegedly enjoy in-depth conversation and relaxation.

6. Google Is Loaded With Fun Easter Eggs

While Google may be the world’s most-used search engine, it is also arguably the world’s most fun search engine. Chock full of Easter eggs that range from solitaire to the functionality to create a heart-shaped graph, you can find a way to entertain yourself when taking a break from customer research. We break down our current three favorite Easter eggs below.

Animal Sounds

Whether you’re teaching your kids the nuances among varying animal sounds or simply want to have some nature-themed time, this secret feature is endlessly delightful.

To access Google’s animal sounds feature, enter the search phrase “animal sounds” into the search bar and let the fun begin.

Tic Tac Toe

If you’re in search of another distracting Google Easter egg and are craving nostalgia, you can try your hand at a classic game of X’s and O’s.

Simply enter the term tic tac toe into the search bar, and you’ll be on your way to a competitive game with Google AI.

Coin Flip

Found yourself sitting with a yes or no question that the flip of a coin can only decide?

If you don’t have a quarter on hand, don’t fret. Google has one for you. Simply enter the phrase flip a coin into the search bar, and you’ll have your answer.

7. Google Provides Directions Directly From the Search Bar

While you probably use Google Maps in your day-to-day life, you can also score directions to any location directly from the search bar. For example, simply type “directions to [destination] from [location]” into the search bar, and Google will provide step-by-step directions. You can even choose whether you’d prefer directions by car, public transit, or foot.

8. Google Enables Search Within Websites

If a website doesn’t include a search function, don’t fret. With Google, you can search a website’s content for a specific query. Simply add site:[website] to the beginning of your search, and you’ll be directed to results from that particular site rather than the entirety of the web.

9. Google Enables Search for Movies, Books, and News

While most Google users know how to conduct image and video searches, did you know you can further vary your search results by medium?

If you’re searching for a book, click the menu item entitled “More.” From here, you can select books, news, or movies and remove any other search clutter that gets in the way of your aim.

10. Define Your Number of Search Results

While we all aspire to land on Google’s first page, sometimes the information you need doesn’t land there. To view more search results, select “Settings” below the right-hand of your search bar on the results page. From here, you can adjust the number of search results that appear.

Google Secrets Frequently Asked Questions

Does Google Have Secret search functions?

Yes! While you may be using standard search queries in the search bar, Google possesses deeper functionality than meets the eye.

Does Google update its search algorithm, and should I care?

Yes, and yes. Google makes thousands of updates to its search algorithm annually. These updates can significantly impact how your site manifests on the SERPs.

How can I keep up with Google’s changing algorithm?

While the answer here is two-fold, we believe that the best offense is a good defense. While many of Google’s more extensive changes are publicized before they go into effect, some are not. By building an adaptive and agile site, you can prepare for whatever updates come your way.

Does Google Really Hold Secret Conferences?

Yes, they do. Every year, guests gather in the summer at a themed retreat focused on a humanitarian issue.

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Google Secrets: Conclusion

Regardless of whether you’re a digital marketer or a business owner, it never hurts to learn more about the search engine that drives the majority of traffic to your website.

If we’re honest, we all want more legitimate site visitors, better optimized SEO, and high-converting web pages, right?

As you learn more about Google secrets, you can use them to your advantage.

That SEO guide? We would suggest getting very familiar with its contents.

And while you may not find yourself in Southern Italy at Google Camp, you will have a much better chance at finding your site ranking on the first page of Google’s SERPs.

What Google secrets do you know?

Colts' Darius Leonard on not getting COVID-19 vaccine: 'I want to get more educated about it'

Indianapolis Colts linebacker Darius Leonard spoke to reporters on Thursday about being unvaccinated. The three-time All-Pro said not getting the COVID-19 vaccine is a “personal decision” and he believes in getting “comfortable with something” before putting it into your body.

5 Alternative Funding Secrets Traditional Lenders Don’t Want You to Know

Traditional lenders are large banks and small community banks.  They offer term loans based on your personal credit score.  The problem is, if you do not meet their requirements, you can’t get a loan with them.  Many small businesses do not meet the minimum credit score requirements to get terms they can afford, or sometimes any funding at all.  

This is even true of SBA loans. They are typically processed through traditional lenders. If you cannot get one, you need to find SBA loan alternatives. This is where alternative funding options enter the scene. 

Here’s What Traditional Lenders Don’t Want You to Know About Alternative Funding

There are plenty of alternative business financing options available. There are alternative business lenders that offer term loans and lines of credit similar to what traditional banks offer.  However, they determine creditworthiness based factors other than credit score. This can make them a good option for those that do not have good credit. 

Some of them even offer alternative types of financing that many business owners have not heard of.  Due to this, most business owners can find options that will work for them. 

Find out why so many companies use our proven methods to get business loans.

1. Alternative Financing Options May Consider More than Just Credit Score

This is the crux of why many businesses do not qualify for financing at traditional banks. The credit score is the main indicator of creditworthiness. However, with alternative funding, often the lenders understand that a bad credit score does not necessarily mean that a borrower is a bad credit risk. They take other factors into consideration. 

Fundbox 

Fundbox  is one such lender. At Fundbox, they consider business merit as opposed to personal credit.  For application purposes, they will do a soft pull on your personal credit. This will not affect your credit score.  When you make your first draw, they will do a one time hard pull that could affect your score, but the minimum is only 550.

2. Many Alternative Lenders for Small business Use Innovative Technology

There is really no reason for a lender to not use the technology available today to help them make better lending decisions. Some lenders believe they could miss out on some good borrowers if they look only at credit scores.  They use technology to help them do better. 

Upstart

Upstart uses a completely innovative platform for loans.  They choose to use a combination of artificial intelligence (AI) and machine learning to gather alternative data for use in making credit decisions.

This may include such things as mobile phone bills, rent, deposits, withdrawals, and even other information less directly tied to finances.  The software they use learns and improves on its own. You can use their online quote tool to play with different amounts and terms to see the various interest rate possibilities.  

3. Some Alternative Funding Options Can Help You Build Business Credit

A separate business credit profile can help you get more business funding, while at the same time protecting your personal credit from your business debt. However, there are not a lot of creditors that will report payments to you business credit profile. That makes it hard to build a score. Some alternative lenders will report, which is a huge bonus. 

Grameen 

Grameen offers microloans to women business owners.  The loan amounts range from $2,000 to $15,000, and they also offer financial training and support.  In addition, they do report payments are reported to Equifax and Experian, meaning these loans help borrowers build their credit.  

4. Alternative Lenders Often Show Preference to Women, Minorities, Veterans, and Others 

If you fall into a specific category as a business owner, you may have some special options available to you. Like Grameen, there are other lenders that focus on helping specific groups. 

Streetshares 

 Streetshares  offers a variety of financing and investment products with fast application processes and funds deposited almost immediately. Lending products never have a prepay penalty, and the credit check is a soft one.  There is never any impact on your credit score for applying.

They lend to various types of businesses and business owners.  Still, their early mission was to help veteran business owners, and they remain true to that mission today.

Find out why so many companies use our proven methods to get business loans.

Accion 

Accion is a nonprofit lending network dedicated to helping small businesses.  They offer small business loans, some grant opportunities, and other resources designed to help both startups and established small businesses grow and thrive. 

They lend to small business owners in general, from all backgrounds and most industries. However, they specialize in underserved populations like minorities. 

5. Some Alternative Business Financing Options Offer 0% Interest

This is a secret that almost no one knows.  It is actually possible to get 0% financing on alternative funding and it is not a scam. 

Kiva 

Kiva is an online lender that is a little different. The interest rate is 0%.  That means even though you have to pay it back, it is absolutely free money. They do not check credit at all. Here’s the catch. You have to get at least 5 family members or friends to give to the cause.Furthermore, you have to pitch in a $25 loan to another business on the platform. 

Credit Line Hybrid

This is a form of alternative business financing rather than a specific alternative lender.  The Credit Line Hybrid is a flexible product that can serve your business needs in many ways. First, you can fund your business without putting up collateral.  Then, you only pay back what you use.  

Your personal credit score needs to be at least 680.  In addition, you can’t have any liens, judgments, bankruptcies or late payments. Also, in the past 6 months you should have less than 6 credit inquiries, and you should have less than a 45% balance on all business and personal credit cards.  There are some other requirements as well.

However, If you do not meet all of the requirements you can take on a credit partner that does meet each of these requirements.  Many business owners work with a friend or relative to fund their business.  If a relative or a friend meets all of these requirements, they can partner with you to allow you to tap into their credit to access funding. 

Other Types of Alternative Funding for Small Business

In addition to the Credit Line Hybrid program, here are some other alternative funding options that Credit Suite can help you with. 

Retirement Account Financing

This Credit Suite program offers a unique and powerful way for a new or existing business to leverage assets that are in a 401(k) plan or IRA. 

In as little as 3 weeks you can invest a portion of these funds into your own business. Then, you not only have more control over the performance of your retirement plan assets, but you also have the working capital you need.

It has to be a plan that you are no longer contributing to, and you can no longer work for the employer that it was opened with.  Lastly, it has to have at least a $35,000 balance. 

Business Revenue Lending

If a business has revenue of at least $120,000 per year, it may qualify for this type of funding. Lenders verify revenue using bank statements.  There can be no recent bankruptcies, but the minimum credit score to qualify is 500.  

The business must also be in operation for a year or more, and it must do over 5 small transactions each month to get business revenue financing. 

Find out why so many companies use our proven methods to get business loans.

AR Financing

Outstanding account receivables can be a source of funding for your business.You can get as much as 80% of receivables advanced.  Not only that, but you can have the funds in less than 24 hours. You get the rest of the accounts receivable amount once you collect full payment for the invoice. Closing takes 2 weeks or less. 

Receivables should be with the government or another business. 

Merchant Cash Advance

A business that accepts credit card payments and has at least a 500 FICO can get up to $750,000 in a merchant cash advance. There must be $100,000 or more per year in credit card sales, and typical approval equals one month’s credit card financing volume. 

Wait! Don’t Apply With an Alternative Lender Before You Read This

Nothing is perfect. That includes financing alternatives for small businesses. Even top alternative lending companies sometimes get a bad rap because of the prevalence of predatory lenders in the industry. Do your research and make sure you are working with a company that is trustworthy. 

The best way to do this is to work with a business credit expert like the ones at Credit Suite.  This is someone who has a relationship with many reputable lenders and can help not only find the best lender for you, but also the best funding options for your business right now. They specialize in options like the Credit LIne Hybrid, lines of credit, merchant cash advances, accounts receivable Financing and more.

In addition, they can help you analyze your current fundability, and walk you through the process of improving it so that you can qualify for even more funding and better terms in the future.

The post 5 Alternative Funding Secrets Traditional Lenders Don’t Want You to Know appeared first on Credit Suite.

How to Use Public Stocks as Business Loan Collateral – and Why You Want to

What You Need To Know About Bank Loans

Seeking the best sources of funding for your business can feel complex and overwhelming. Most young entrepreneurs today feel like bootstrapping their business feels safer and perfect for their needs. 

Unfortunately, most start-up businesses cannot thrive without adequate funding. Since few businesses start with a generous budget, you must seek alternative sources. Loans, sponsorships, partnerships, angel funding, co-investors, and grants are some of the options known to many.

Most of these options require collateral of some sort. Collateral is an asset that you can use to secure a personal or a business loan. In layman’s speak, it’s a promise that you can still cover your loan when you cannot make the payments. 

Collaterals can be seized and resold to cover the remainder of the loan. For business loans, assets like business equipment, vehicles, buildings, and inventory can be used as business loan collateral. You can even use accounts receivables to pay off the loan if necessary. 

Like any other lenders, banks put a lien on the asset pledged as collateral for the loan. If the borrower falls on hard times and cannot keep up with the payments, the lender has the right to seize the collateral. It is a guarantee that the lender still gets paid no matter what. By pledging collateral, a business owner shows that they are not a high-risk borrower. It leads to reduced interest rates and a more reasonably affordable loan plan.

Alternatives

Today, most business loans and credit lines do not come from conventional banks. There are alternative lenders and investors like Credit Suite who can help you with the steps needed to secure a business loan. 

We have a wide array of legitimate funding solutions, each with its own different and unique terms that can match your credit profile. Credit Suite’s business loan programs manage the rates and requirements to help increase your chance of getting approved.

High-value collateral often gets matched with a higher loan value which can be beneficial for the lender. It is logical for business owners to choose a loan option that reflects their capacity to pay. However, not many are aware that they can use less popular options as business loan collateral instead of their properties.

The good news? If you own a public stock, you may use that as collateral to secure a business loan. This article explores how public stocks can be your collateral and what makes them such a good option.

Why Use Public Stocks As Business Loan Collateral?

Public stocks are liquid assets which makes them an acceptable form of collateral. Everyone in the industry knows that these stocks have passed compliance standards. Hence they guarantee against the unlikely event of a default. It is natural for any individual to feel a degree of protectionism on what they hold dear. It includes real estate, properties they own like vehicles or artwork, and it extends to stocks. However, in the unfortunate event of a seizure, public stocks affect you differently. 

You can still operate your business, protect your image, and operate as usual. Treat your public stocks as one of the assets that can help your business continuity process. It is a lifeline that can save you when you cannot make payments without sacrificing the assets that help your business move (i.e., laptop, vehicles, house, etc.). 

Overall, what matters is that you are protected from your liability against future payments—the benefit trumps, especially when the need for funding is huge. Most people are unaware that you can use public stocks as such and so the next section will guide you on how to use them so that you can feel more confident in deciding that this is the best option for you to take. 

Demolish your funding problems with 27 killer ways to get cash for your business.

5 Tips In Using Public Stocks As Collateral To Secure Business Loans

  • Track your assets’ worth.

Lenders will assess your company’s history, business credit, balance sheet, and equity contributions. When you pass the audit, that’s the time when you submit your collateral for review. 

Defaulting on a loan has dire consequences for your business and personal life. It would help if you took a realistic stance when you track your assets. Specifically, your public stocks require an exhaustive review. Consider asking for professional help to help you see how your stocks fare.

Feel more confident in your investment decisions by staying up to date on research-based information, current trends, and market analysis. When it comes to your business and money, a serious reputation is important. You can rely on professional advice from experts like Charlie Shrem, Matt McCall, David Stein, and Josh Bannerman to navigate key investing issues.

  • Negotiate if you can.

A good credit rating increases your loan approval. Using public stocks as collateral, how your stocks perform, your investment history, and your level of stock ownership can all influence your loan-to-value ratio. Look for wiggle rooms in terms of restructuring, repayment, frequency, and scheduling. These are basic areas you can cover in negotiating.

  • Ask for lower interest rates.

Public stocks can help you get lower interest rates because the collateral is being held. It is because of the reduced risk associated with public stocks. This reduction makes lenders more comfortable because there is little chance of default. Depending on your stock’s value and performance, lower interest rates may be warranted. It does not hurt to ask for an interest reconsideration. 

Demolish your funding problems with 27 killer ways to get cash for your business.

  • Ask for greater repayment flexibility.

This country is built on its fair and reasonable business practices. It extends to flexible loan repayment options. Additionally, it is beneficial to both parties as this essentially guarantees loan payment and profit based on interest. 

There are common repayment flexibility schemes in the market to minimize the chances of default. These are accelerated repayment which leads to loan recalculation, step-up loans where the value matches a borrower’s growth potential, and balloon repayment scheme where the loan amount is paid in the last installment.

High-performing stocks can be your leverage for greater repayment flexibility. In the event of trouble making payments, you may adjust the rates or payments depending on your lender’s programs and assistance.

  • Consider alternative lenders.

Sometimes, conventional banks are not the right fit for your business. Other start-ups claim that alternative lenders can offer funding that aligns with their goals, structure, and profitability. At Credit Suite, our contemporarily diverse strategies can help your business secure the funding you need. Our client’s testimonials prove how effective we are in our role.

Demolish your funding problems with 27 killer ways to get cash for your business.

Understanding The Risks 

There are no personal guarantees when you use public stocks as collateral. How your public stocks perform on the market will vary for sure. If the borrower defaults, the lender can seize and sell the business loan collateral. However, if the collateral sells for less than the debt value, the lender cannot seek that deficiency balance from the borrower. 

Therefore, public stock collateral is considered as nonrecourse debt. Due to the risks, lenders generally allow only 50% to 60% loan-to-value ratios. Typically, lenders underwrite these collaterals with more care compared to full recourse loans.

Depending on the kind of loan and the value you are applying for, public stocks as collateral are primarily attractive only when you own significant ownership in the company’s stock. Owning penny stocks or junk bonds will only matter if the value is high, but until it does, you have a better chance of securing your business loans with stocks that have high market value.

When we talk of public stocks, the image and quality of the company also matter. It communicates stability which helps secure the loan. The lender communicates with a broker who tracks the daily value of the stocks.

What if the Value of the Stock Decreases?

Should the value decrease, the lender may require more money (or additional collateral). Before you decide to submit your stock portfolio as business loan collateral, ask yourself whether this is a risk you are willing to take.

Remember when Apple stocks went down? Everybody seems to know when this happened, and for good reasons. All eyes watch when the big players lose. When we talk about stocks used as collateral, only significant stocks are considered. At the most basic, this can mean market value, the number of stocks, and degree of ownership.

When your stock’s market value drops, your collateral’s value might go down as well. Though this does not immediately mean that you need to submit more collateral, there’s a line drawn to secure your lender’s threshold. If the market drops far enough, there is a risk that you may owe more than the original amount.

Some Friendly Reminders

Most business owners who want to push forward understand these risks. Your chances of completing loan payments are significantly increased when coupled with confidence in their product or service, along with sensible market research.

Out-of-the-box thinking pays off in business. Look for additional income streams that you can integrate into your business. At Credit Suite, our Partner Program offers you a unique way to boost your sales and exceed your targets. 

… And

Whatever kind of service or product you sell, you can point your customers to our program to complete the sale. We also provide you with all the training and information you need when you become our partner. It’s a win-win situation for the both of us.

Business Loan Collateral Credit Suite

 

Janine Ikan is a teacher, mental health advocate, and freelance writer for The Stock Dork. She has written on psychology, digital marketing, sustainability, and new age spirituality. Her passions include arts, culture, travel, food, social sciences, and community development. She lives in the Philippines with her husband, their energetic toddler, and six cats.

The post How to Use Public Stocks as Business Loan Collateral – and Why You Want to appeared first on Credit Suite.

If the supplies begin at simply under a buck, exactly how can a capitalist want to prosper in the long run?

If the supplies begin at simply under a buck, just how can a financier intend to prosper in the long run?

To obtain one of the most acquires out of your cent supply financial investments, it’s crucial that you grab info regarding specific firms prior to the information strikes the main media stream.As quickly as word is produced concerning a business, the rate of the dime supply rises till it no more drops in the group of cent supplies whatsoever. Exactly how do you obtain this kind of info if the media isn’t distributing it to the public?

You need to do your very own due dilligence on the cent stock.As dime supplies are not complied with by the major stream common funds you can normally enter prior to they do.
You need to come to be a detective of kinds as well as identify which business have the most effective possibility for you to benefit from a financial investment of their dime supplies. Occasionally you’ll discover a little story where supplies aren’t also pointed out as well as it offers you simply sufficient details to take advantage of a financial investment of dime supply prior to the firm begins greatly advertising their supplies about the information.

In order to accumulate a ton of money in dime supplies it does indicate you are mosting likely to need to take large opportunities. Some capitalists choose to see as well as wait what will certainly occur with a business prior to they get supply.

This type of strategy squashes the chance they need to make use of the reduced supply price, since when capitalists understand without a doubt that a business gets on the increase, every person will certainly be clambering for the supply as well as a share rates will swiftly climb up.

One means to remain abreast of promising cent supply business is to sign up with among the several dime supply guidance discussion forums online and also enjoy what others need to state concerning the options offered to dime supply capitalists.
Constantly ensure you do your very own examination right into the business also, yet having various other capitalists with a similar perspective can assist you discover what to try to find prior to spending excessive cash as a junior.

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