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
Sometimes businesses technically have the revenue to cover expenses, but it’s tied up in accounts receivable. Unpaid invoices are almost like unsold inventory – the value is in the asset rather than liquid capital you can spend on the business. And just like unsold inventory, the longer it goes, the less profitable it becomes, as you still have daily expenses.
SBA loans refer to several programs administered and backed by the Small Business Administration. With the backing of a government agency, these loan programs usually offer the highest loan amounts, lowest interest rates, and longest repayment terms.
However, securing a loan through the SBA requires working with an approved third-party lender. Each lender has different requirements and may only offer
Investing in a tractor-trailer (aka semi-truck, big rig, 18-wheeler, etc.) is a major expense, but one that could yield high revenue. Whether you’re an independent owner-operator or own a freight business, most truckers don’t have the available liquid capital to purchase a new or used truck directly.
Most small business owners turn to financing options to fund a commercial truck
One small business financing option for companies that don’t have established credit is invoice factoring, also known as accounts receivable factoring. When you factor your invoices, you sell them in exchange for upfront cash and don’t incur additional debt.
Plenty of companies will work with your business to factor your invoices. Finding the right one is a challenge, though.
Small businesses use invoice factoring to turn unpaid invoices into working capital. The fee and payment structures get complicated, adding to the already complex nature of accounts receivable accounting.
If your company is using or considering an invoice factoring service, you must understand how to account for factored receivables.
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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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