Food trucks have become a popular and affordable way to break into the food industry. Although cheaper than opening a restaurant, the initial costs of the truck, cooking equipment, and permits can all add up. Financing these costs can ease this pain with benefits like lower upfront costs, better cash flow, and potential tax deductions.... Read more » The post How to Get Financing for a Food Truck appeared first on The Bottom Line by National Funding ..read more

As a small business owner, your dream of expanding, innovating, and running your operations efficiently lies in one critical factor: acquiring the right equipment. Whether you’re a startup or an established company, acquiring heavy machinery, up-to-date technology, or specialized tools is essential. How Does Heavy Equipment Financing Work? When you need to acquire equipment for... Read more » The post How to Finance Heavy Equipment for Small Businesses appeared first on The Bottom Line by National Funding ..read more

Revolving utilization, also known as credit utilization or debt-to-credit ratio, refers to the percentage of available credit you’re using on your revolving accounts, such as your business credit cards. It’s a crucial metric that directly impacts your credit scores. Essentially, it shows how responsibly you manage your credit. So what is revolving utilization, and how can you improve it? Here’s what you need to know. How Revolving Credit Works Revolving credit accounts have a “revolving” balance, like credit cards. When you’re approved for a credit card, you receive a credit limit (e.g., $1,00 ..read more

Building business credit is crucial for small businesses as it enhances their ability to secure financing opportunities and improves financial stability. A strong credit profile can lead to better interest rates, higher credit limits, and more favorable terms from lenders and suppliers. This financial flexibility supports business growth and operational stability. However, business owners often worry about the time required to build robust business credit. New businesses face challenges due to the lack of credit history, making the process longer and more challenging compared to established bu ..read more

Profit margin is crucial for small businesses as it indicates efficiency and sustainability. It represents the percentage of revenue that remains as profit after accounting for expenses. A healthy margin ensures financial stability, allowing for reinvestment in operations, expansion, or addressing unforeseen challenges. By managing margins effectively, businesses can improve cash flow, attract investors, and weather economic fluctuations. Ultimately, maintaining a healthy profit margin is integral to long-term growth and viability in the competitive marketplace. Types of profit margin There’s ..read more

For healthcare practices, securing the latest medical equipment is essential to delivering top-tier patient care. However, updating or acquiring new devices can be a challenge, especially given the high procurement costs and rapid technological advancements. This is why most medical practices rely on medical equipment leasing and loans as an alternative path to outright purchasing. Compared to loans, leasing has significant benefits, like financial flexibility, access to the latest technology without the hefty price tag, and customized post-lease options. In this article, we will outline the b ..read more

You can consider heavy machinery the unsung heroes of the construction world that are shaping our skylines. Construction equipment like bulldozers and cranes play an irreplaceable role in day-to-day operations. However, when a backhoe’s engine stalls or a hydraulic leak halts a crane mid-air, the entire project comes to a stop. Downtime due to equipment breakdowns can disrupt schedules, causing financial losses for business owners and missed deadlines. Purchasing new construction equipment outright poses a few hurdles: the high initial upfront costs, depreciation value over time, and rapid adv ..read more

Figuring out your taxes as a small business owner can feel like a guessing game since there isn’t a single tax form or single tax rate for all businesses. Not only do you need to plan around your future uncertain income — you also need to keep track of changing federal laws. As you get ready for another tax season, these strategies can help you determine your small business tax rates. What Is the Federal Small Business Tax Rate? Your tax rate depends on the structure of your business. C Corporations must pay the flat corporate tax rate, which is currently 21% as of 2024. Sole proprietorships ..read more

Equipment is the backbone of many small businesses. The decision to replace or repair existing machinery can have many factors to consider. Business owners may not have the working capital on hand to make necessary upgrades or want to use their extra funds for other important business expenses. The equipment, labor, and operating costs are all considerations when planning for an equipment replacement or repair. There is a fine line that business owners must think about when deciding whether to replace or repair their equipment because making the wrong choice can have serious financial conseque ..read more

Writing a business plan is important in guiding small businesses toward success. Research indicates that entrepreneurs who create formal business plans are 16% more likely to achieve viability than their counterparts who don’t. It’s a common myth that business plans are only for startups. In reality, these plans are also valuable for established businesses, aiding growth, expansion, identification of potential challenges, planning for downturns, and securing funding. This article looks into the significance of business plans, backed by empirical evidence, and takes you through crafting an effe ..read more