In this article, we discuss the requirements for a business debt consolidation and refinancing loan. Qualification requirements vary by lender. However, most lenders in this market have similar requirements. In our case, we work specifically with small companies that have: At least $500,000 in debt A minimum history of 3 years in business Equipment and/or […]
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How to Refinance Expensive Business Debt
Getting a loan with good terms can be difficult for small business owners. New business owners are especially affected by this problem. Consequently, many small companies have to make do with ‘less-than-perfect‘ financing. They get loans that aren’t well suited for the company and can be very expensive. Expensive loans become a drag on your […]
How Does Business Debt Consolidation Work?
Companies can encounter financial trouble if they have too much debt. All too often, they also have too much of the wrong kind of debt. This situation is financially unsustainable. Debt payments take a substantial portion of revenues. Therefore, the business cannot keep up with payroll, supplier payments, and other important expenses. Ultimately, the situation […]
Pros and Cons of Invoice Factoring
Factoring invoices has been gaining popularity as a way to finance companies that have cash flow problems due to slow-paying commercial clients. Factoring works by providing an advance on these invoices. This advance provides cash flow to operate the business and grow. To learn more details about factoring, read “What is invoice factoring?” You can […]
Government Contract Receivables Factoring
Summary: Getting a contract from the U.S. federal government has several advantages for small business owners. The government can provide your company with a steady flow of work if you know how to find it and bid for it. It can be an excellent source for projects that help you take your business to its […]
Supplier Financing for Companies that Sell to Retailers
Getting a contract from a large retailer can be very exciting for any business owner. It can certainly be a defining moment in your career – if you are prepared for it. But large contracts can also be a double-edged sword that can hurt a business that is not well prepared. They can tie up […]
Financing Options for Walmart Suppliers
For many business owners, becoming a Walmart supplier can be a defining moment in their business careers. Walmart’s massive scale, when approached correctly and strategically, can help your business grow exponentially. The bottom line is that Walmart is a great company with stores in the US and Canada (among other countries) and can make for a great client. […]
How to Fix Your Trucking Company’s Cash Flow Problems
Every company runs into cash flow problems at one time or another. However, many of these problems can be prevented with some planning and diligence. In this article, we cover nine common cash flow problems that affect carriers, along with some solutions: 1. You don’t charge enough Many trucking companies experience cash flow problems because […]
How to Grow a Trucking Company
Growing a successful trucking company takes a lot of hard work and dedication. But, above all, it takes a disciplined approach to make the right decisions and take the right actions. This article helps owner-operators and small fleet owners accomplish this goal. It summarizes the seven key steps to take to grow your trucking fleet […]
How to Finance a New Trucking Company
Most truckers use financing to launch their businesses. In this article, we discuss the ways you can finance new and growing trucking carriers. We discuss: What to do first How to pay for startup costs How to finance equipment Financing operations and growth Conclusion 1. Getting started – do this first Many entrepreneurs jump into […]