COVID-19 has thrown all small business owners into a panic. 75% of small business owners have 28 days or less of cash reserve. An indefinite shutdown of business is terrifying when that’s the case. I am a small business owner. I know the fear of losing your business, but I work in the financing industry, […]
Business Funding: Is the Cure Worse Than the Disease? Read More »
What the heck happened over the last few weeks? One day everyone is talking about a theoretical impending recession, and the next, millions of people are losing their jobs. It’s hard not to have the REM song, “It’s the end of the world as you know it” playing over and over in your head right
Three Tips to Protecting Your Business During COVID-19 Read More »
We have entered into uncharted territory. There have been many predictions of some form of recession happening at some point, but we’ve never seen such a rapid shutdown of so many businesses. We don’t yet know what the full impact will be on our economy long term, but with some degree of optimism, we have
Keeping Your Business Going During COVID-19 Pandemic: 6 Tips on How to Get Paid Read More »
The items being shipped have shifted from consumer items like beauty products to home goods and health essentials like food, cleaning supplies, and other necessities during a viral outbreak. These supply chains are vital to keeping people inside and containing the spread of COVID-19, but the challenge facing truckers is the federal restrictions and state
Trucking During the COVID-19 Outbreak Read More »
Trade wars, global uncertainty, and a steady domestic economy make for a lot of talk about business performance this year. Rising costs of materials, uncertainty about international exporting, and cash flow gaps are the biggest challenges for small business owners according to a 2019 Global Business Monitor Report. Even still, small business optimism is high
Can Small Business Expect Growth in 2020? Read More »
On this episode of #TheMoneyFactor, CEO of Eagle Business Credit Ian Varley and CEO of ASC Group Alan Adcock discuss cyber security and top risks to small businesses. There are IT issues that can cost your business and cyber security risks that a small business owner needs to be aware of. Will Anti-Virus Software Protect
Small Business Cyber-Security Risks Read More »
Assess how the business performed in 2019 Prepare an updated business plan for 2020 Involve your staff in setting goals for the year Prepare a simple financial forecast, to include estimated revenue Make sure you have enough money to do what you need to do Review 2019 Business Performance The first step in preparing your
Growing Your Business in 2020 | #TheMoneyFactor Read More »
Missing a repayment on an MCA may seem like the end of the world. Many cash advance companies structure their repayments to be daily or weekly. This will drain a small business’ cash flow and make it harder to make the repayments over time. What does a business owner do to compensate for the lack
What Happens if You Miss an MCA Repayment? Read More »
What is invoice finance? Why choose invoice finance? Who offers invoice finance? How do you set up invoice financing? What is Invoice Finance? Invoice financing, or invoice factoring, is a way to fund your business besides a bank loan. In essence, invoice financing gives immediate payment to your business for an open invoice. You submit
What Is Invoice Finance? Read More »
For many small business owners merchant cash advances or MCA loans pose a tempting offer of quick business financing. Unfortunately, an MCA comes at a high cost and often damages your cash flow through frequent withdrawals. When cash flow is the lifeblood of your business, it can be impossible to grow with daily or weekly
The Difference Between an MCA Loan and Invoice Factoring Read More »
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