Business Resources Library

Understanding Liens: What Small Business Owners Need to Know

If you’re a small business owner who is considering applying for a loan, there are many things that you can do in advance to prepare. Understanding common lender concerns is essential, and an important consideration for lenders are liens. We’ve compiled a brief look at liens, including what they are, where they come from and how they can impact your small business. What is a lien? In the broadest sense, a lien is a legal claim against a party or entity’s property or assets. [...]

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Beyond Credit Scores: Additional Factors that Small Business Lenders Consider

While most small business owners know that personal credit scores are the primary factor that lenders consider for loans, many don’t realize that there are additional criteria that can influence lenders’ decisions. These can ultimately sway a decision one way or another, particularly for borrowers who may just meet or fall slightly short of lenders’ credit-score minimums. In this article, we look at several of the additional criteria that lenders may consider – knowing [...]

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Interim Financial Statements: What They Are and Why Your Small Business Needs Them

Two significant financial challenges that small businesses frequently face are cash-flow and liquidity issues, and without a solid grasp on financial management, many small business owners find themselves making difficult and costly decisions out of stress or fear. There are many tools that can help you better manage your finances to ensure that your business stays strong, and among the best are interim financial statements. In this brief article, we look at ways in which interim financial [...]

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How to Give a Successful Elevator Pitch

A great elevator pitch is an essential small business tool. In just about 60 seconds or so, an elevator pitch enables you to tell others the key points that distinguish your business and brand. They’ve been used throughout business history and the best ones help entrepreneurs open the door to funders and investors, engage new clients and gain great publicity. In this article, we look at the goals and primary components of an elevator pitch, and share tips to help you create a stellar [...]

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Building Financial Stability as a Small Business Owner

This article is a guest post from Fit Small Business Behind every successful business is a responsible bookkeeper reviewing the finances and making budgetary decisions. Oftentimes, that bookkeeper is also the owner, marketing team, and Human Resources Department. Without financial stability, your company could spend a lot, go broke, and end up having to close your doors. If you don’t have a background in accounting, you can still enjoy relative financial stability. Keep these steps in [...]

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