The Small Business Administration (SBA) offers a line of credit program where funds can be used to cover temporary, short-term, and cyclical working capital needs. Some examples of what an SBA line of credit can be used for include inventory, labor costs, administrative expenses, and funds to help with the rehabilitation or repair of commercial... The post SBA Line of Credit: CAPLine Rates, Terms & Qualifications appeared first on Fit Small Business ..read more

As a business owner, it’s possible to use a home equity loan (HELOAN) for business purposes. Although you’ll need to own a home with sufficient equity, it may be more suitable compared to a traditional business loan because its qualification requirements can be easier to satisfy. You can get a home equity business loan by... The post How To Get a Home Equity Loan to Finance Your Business appeared first on Fit Small Business ..read more

If you need a funding source to support your small or startup business, consider how crowdfunding might be a suitable option. You’ll need to give thought to the various types and platforms, create a plan to market your business and its crowdfunding needs, and communicate with and keep your promises to your backers. The following... The post How To Crowdfund a Business: A Beginner’s Guide appeared first on Fit Small Business ..read more

A business credit card offers a line of credit to finance your business’s purchase transactions while a business debit card is either prefunded directly or linked to a bank account. Both are important tools that provide convenience for business owners when making purchases in-store and online. They may look similar, but they don’t work the... The post Business Credit Card vs Debit Card appeared first on Fit Small Business ..read more

Angel funding is a way to raise money for your business with the help of angel investors, who offer seed money to promising startups or small businesses in exchange for an equity stake in your company. To receive angel funding, you’ll need to do your due diligence in vetting an angel investor best suited to... The post How To Raise Angel Funding for Your Business appeared first on Fit Small Business ..read more

Angel investors are qualified individuals or entities who provide seed money to invest in promising small and startup businesses. They are typically offered a stake in the business in exchange for their financial assistance and are a source of alternative financing for new businesses with limited resources. If you think that angel funding might be a... The post Pros and Cons of Angel Investors Funding Your Business appeared first on Fit Small Business ..read more

While national banks might be better for businesses that need larger branch networks and product selections, having a smaller scope helps community banks provide services that are faster, cheaper, and more personalized. Choosing a community bank business account also helps stimulate your local economy by creating local bank jobs, funding local businesses, and providing revenue... The post 7 Benefits of Using a Community Bank for Your Business appeared first on Fit Small Business ..read more

A letter of credit is issued by a bank or other financial institution as a way to guarantee payment in the event the customer does not pay. This can be especially useful when conducting business internationally or when making large complex purchases where failure to receive payment could result in cash flow issues. Companies that... The post What a Small Business Letter of Credit Is & How It Works appeared first on Fit Small Business ..read more

U.S. Bank Business Altitude™ Power World Elite Mastercard® is U.S. Bank’s newest business credit card that offers up to 6x points after meeting spending conditions. It does not charge any foreign transaction fees, and there is no cap on the amount of points rewards you can earn. However, it does not offer a 0% introductory... The post U.S. Bank Business Altitude™ Power World Elite Mastercard Review for 2024 appeared first on Fit Small Business ..read more

An operating lease is an agreement to utilize an asset without ownership rights. This agreement is similar to a rental agreement, in that the lessor allows the lessee to use the asset for a set period and under conditions permitted by the lessor. Assets commonly associated with an operating lease include equipment, automobiles, and real... The post What an Operating Lease Is & How It Works appeared first on Fit Small Business ..read more