SIC codes significantly influence business credit scores. Companies with high-risk SIC codes might experience difficulty securing loans, face higher interest rates, or have limited funding options. Conversely, businesses with low-risk SIC codes often benefit from improved credit scores, better financing terms, and enhanced business opportunities.
For example, a company operating in SIC code 5044 (Office Equipment) will likely receive more
The Costco Anywhere Visa Business Card by Citi is a rewards-based credit card exclusively available to Costco members. This card is designed to help business owners maximize their spending by earning cash back on essential purchases like gas, travel, and dining. With no foreign transaction fees and an attractive rewards structure, this business credit card can be an excellent choice
A slush fund in the world of small business would be a misnomer. In practice, the term has a very negative connotation, implying secret slush funds or other devious uses of money. If done right, a slush fund can be an intentional financial strategy for your business.
A slush fund refers to a reserve of money set aside for discretionary
Commercial auto insurance is a specialized form of business insurance designed to protect vehicles used for business purposes. Unlike a personal auto insurance policy, which is intended for personal use such as commuting, commercial auto insurance provides higher liability limits and broader coverage tailored to the risks associated with business operations. This type of insurance safeguards businesses from financial losses
Sending someone to collections occurs when a creditor has exhausted all efforts to recover a debt, often involving a collection agency. This process typically begins with a demand letter requesting payment.
Debt collection is vital for creditors to recoup unpaid debts like credit cards, medical bills, and student loans. However, if unresolved, it can harm the debtor’s credit score
Fortunately, there are money-saving tax programs to help small business owners reduce the financial burden of purchasing equipment or machinery. The ability to save on qualifying equipment helps small businesses that don’t have the money to afford a significant capital expenditure.
If you need to purchase equipment or business vehicles in 2022 and want to learn more about Section 179,
The Melio Payments platform is an online accounts payable solution that allows businesses to conveniently make ACH bank transfers, debit card, and credit card payments to their vendors.
The main difference between W2 employees and 1099 contractors is that 1099 contractors are hired for specific projects or tasks. W2 employees have a full-time job with the company, and benefits often come with that position.
Many people ask, “How long does it take to get an SBA loan?”. The answer is that it depends on several factors, including the type of business, location, and credit score. However, most small business owners can expect to wait anywhere from 30-180 days before being approved for their grant or business loan. This article will break down the steps
After a long few months of news, loss, economic crisis, and uncertainty, the world is slowly learning to adapt to a new way of living as we try to find ways to manage a global pandemic. COVID-19, an unprecedented and unpredicted occurrence that has impacted individuals, families, and business owners alike. Although shocking in its nature, the world has been
Fraud Disclosure:
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.
UCS will never communicate with a prospective client on Facebook, Facebook Messenger, or any other type of social media. Further, any email communications will always come from an official UCS email address and not a Gmail, Yahoo, or other email domain. If you believe you have been contacted by someone posing as an employee of UCS, please email [email protected].
