A secured business credit card requires a cash security deposit. This deposit acts as collateral for the lender. If a secured card user fails to pay, the lender can use the deposit to cover the debt. This reduces risk for lenders, making it easier for businesses to get credit. Using a secured business credit card responsibly can improve a company's business credit score. Timely payments and low credit utilization show lenders that a business is reliable. Over time, this responsible use can lead to better offers, including unsecured business credit cards with higher limits and lower interest ra ..read more

Soft credit pull credit cards allow you to check your eligibility without affecting your personal credit scores. This is a good option for small business owners with a lower credit score or who want to protect a good or excellent score. The post Best Business Credit Cards with a Soft Pull Only: The Essential Guide appeared first on United Capital Source ..read more

What are Commercial Loans? Commercial loans are business loans used to finance various business activities. They help businesses purchase equipment, fund real estate investments, or cover operational costs. These loans differ from personal loans. Instead of catering to individuals, commercial loans focus on businesses. The terms, interest rates, and approval processes also vary significantly. Commercial loans can be secured or unsecured. A secured loan includes collateral, such as business property or inventory, which provides security to the lender in case of a default. Unsecured business lo ..read more

What is a Wingstop Franchise? Image Source: Wingstop Inc. Wingstop is a popular chicken wing franchise that began in 1994. After the success of the first Wingstop location, the company started a franchising program in 1997 and sold its 1 billionth wing in 2002. Since then, it has grown rapidly. Today, there are over 1,400 Wingstop restaurants across the United States and beyond. This growth shows the success of the famous Wingstop business model. One reason for Wingstop’s success is its unique flavors. It’s known for wings, chicken sandwiches, and French fries, all available in various flavor ..read more

What does a 0% Introductory APR on a Business Credit Card mean? A 0% introductory APR means you won’t pay interest on your purchases for a set time. This period usually lasts from 9 to 18 months. During this time, businesses can save money. They can use the funds for other needs without worrying about interest costs. Many business owners find this feature helpful. It allows them to manage cash flow better. For example, if a company needs to buy new equipment, it can do so without paying extra interest. This helps keep expenses down while still getting necessary items. It can also help with de ..read more

What is the Price Elasticity of Demand? Price elasticity of demand measures how much the quantity demanded of a good changes when its price changes. It helps businesses understand consumer behavior. For instance, if the price of a candy bar increases, will people buy less? This relationship is crucial for setting prices. Understanding price elasticity is essential for businesses and economists. It shows how sensitive consumers are to price changes. If demand is elastic, small price changes lead to significant changes in the quantity demanded. Conversely, inelastic demand means price changes d ..read more

What are T&E Expenses? T&E can stand for travel and expense or travel and entertainment expenses, with both usages commonly accepted. It encompasses costs related to employee travel for work purposes, such as meeting with or entertaining clients or sales leads. These costs can vary from actual expenses to allowable expenses, all documented through expense forms. In the business world, T&E expenses are crucial in tracking spending, ensuring compliance with expense policies, and facilitating expense reimbursements. They provide insights into overall operating costs, helping companie ..read more

What is Mileage Reimbursement? Mileage reimbursement is a process where a business repays employees for the miles they travel for work-related purposes. Examples include traveling for client or sales meetings, training, meeting with business partners, or shopping for business goods and supplies. It doesn’t include employee travel from home to a regular workplace. Employers typically calculate the amount owed to employees using a standard mileage reimbursement rate. This practice ensures that employees are fairly compensated for using their personal vehicles for work. Mileage reimbursement for ..read more

What is Meta Pay? Meta Pay is a digital payment system owned by Meta that offers users a convenient way to make online transactions. It can be accessed through the Meta Pay button on various apps, simplifying the payment process. Meta Pay provides quick and secure transactions for its users. Users can create Meta Pay accounts by verifying their information and setting up a PIN for added security. The platform also allows Meta Pay users to customize their settings according to their preferences. Businesses can benefit from Meta Pay by setting up a business account to facilitate customer transa ..read more

What is Business Credit? Most small business owners are familiar with personal credit, such as FICO scores, which lenders use to determine creditworthiness for financing options like personal credit creds, auto loans, and mortgages. However, your business has a credit profile and score that’s separate from your personal score. Your business credit profile contains credit history for any business credit cards, loans, trade lines, or other credit accounts in your business’s name. It may also include payment history and accounts for rent or utility bills. It’s distinct and separate from personal ..read more