Chime is a financial technology company that offers personal banking services through a user-friendly mobile platform. While it offers banking features similar to traditional banks, it is not a bank. Instead, it partners with FDIC-insured institutions: The Bancorp Bank and Stride Bank. This partnership ensures account holders receive the same level of deposit insurance as they would with a traditional
A business bank account is a financial account used to manage a company’s funds. Unlike a personal checking account, a business account separates personal and professional finances, essential for accurate recordkeeping, tax reporting, and liability protection.
ChexSystems is a consumer reporting agency governed by the Fair Credit Reporting Act. It collects data on closed bank accounts, unpaid overdraft fees,
Cash-back business credit cards are tailored explicitly for business owners. They offer a smart and straightforward rewards-earning solution for all your business basics. These cards give cash back on eligible business purchases, helping business owners save money and reinvest in their businesses. Cash-back rewards are different from traditional rewards cards. Most importantly, they keep it simple, delivering businesses a clear-cut
LegalZoom, Incfile, and ZenBusiness are three top providers of business formation and management services designed to assist entrepreneurs with their ventures. Each platform simplifies tasks such as LLC formation, business compliance management, and more to help you build and manage your business. Though they’re all similar at their core, their features, pricing, and additional offerings vary greatly.
Tradeline Supply Company LLC, founded in 2017 and based in San Diego, California, has established itself as a trusted marketplace for buying and selling authorized user tradelines. The company’s mission is to help individuals improve their credit scores by offering a variety of tradelines for purchase.
With a user-friendly online platform, customers can browse available tradelines and choose the
For small business owners in the manufacturing industry who need immediate working capital and don’t want to add debt, traditional loans won’t work. One financing solution is manufacturing invoice factoring. In factoring, a company sells its accounts receivable in exchange for an upfront cash advance.
For many government contractors, waiting for payments puts them in a cash flow bind. Cash is the lifeblood of your business, and cash flow interruptions limit your company’s ability.
Government invoices are valuable assets, and some companies use invoice factoring to convert those assets into cash.
Financial institutions must apply for approval to offer SBA loans. The government agency helps small business owners connect with SBA-approved lenders with its Lender Match tool.
This brief guide is designed to help you use the tool and your other options for finding a lender.
SBA lenders often require a down payment on SBA loans because it demonstrates financial responsibility as well as a willingness to share some risk of the loan. When you make a down payment, you put some “skin in the game” and show that you’re invested in paying off the loan.
One of the more challenging aspects of SBA loans is that you must meet both SBA and lender requirements. The SBA does not set minimums for personal credit scores, time in business, or revenue. It does, however, set basic eligibility and FICO SBSS requirements.
Even if you meet the SBA’s requirements, each lender sets credit score, time in business, and
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Please be aware that individuals have been fraudulently misrepresenting to business owners (and others) that United Capital Source, Inc. (“UCS”) can assist small businesses in receiving government grants and other forgivable business loans, when in fact those grants or loans do not exist or are not available. These individuals have ulterior motives and are engaging in the unauthorized use of the names, trademarks, domain names, and logos of UCS in an attempt to commit fraud upon unsuspecting small business owners.
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