SMB Compass Blog
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Read business loan blogs at SMB Compass. It will not only help you in increasing your knowledge but also give you tips to grow your business. SMB Compass is a bespoke business financing company focused on providing financing and education to small businesses across the United States.
SMB Compass Blog
2w ago
Business | Business Management | Small Business | Small Business Management
Top 7 Tools for Project Cost Management
Ezra Cabrera | April 19, 2024
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In today's competitive landscape, effective project cost management is vital for businesses striving to maintain profitability and drive sustainable growth. Organizations of every size—from startups to multinational corporations—need to understand the complexities of project cost management to ensure optimized project efficiency and profitability. There are a plethora of ..read more
SMB Compass Blog
3w ago
Business | Business Management | Human Resources | Small Business | Small Business Management
How to Create a Workplace Culture That Attracts and Retains Top Talent
Ezra Cabrera | April 10, 2024
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The numbers are in, and they don’t look good: 33% of employees in 2023 self-identified as quietly quitting their jobs. Quiet quitting is the practice of doing the absolute minimum required, sticking to the letter of a job description, and refusing to take initiative or go above and beyond prescribed duties.
In an economy t ..read more
SMB Compass Blog
1M ago
Business | Business Management | Small Business | Small Business Management
10 Tips for Enhancing Your Small Business Cybersecurity
Ezra Cabrera | March 29, 2024
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In 2017, a cyber attack was released on 230,000 computers worldwide. WannaCry ransomware locked up personal files on computers running Microsoft operating systems. The software demanded $300 in Bitcoin from each user or it would delete their data. While it was shut down quickly, many of the encrypted files were lost forever, costing millions of dollars.
O ..read more
SMB Compass Blog
1M ago
Business | Business Financing | Business Loans
What is a DSCR Loan and How Does It Help Your Business?
Ezra Cabrera | March 14, 2024
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Small business owners often struggle to secure financing due to strict requirements and lengthy approval processes from traditional lenders. Fluctuating revenue further complicates matters, making it challenging to predict cash flow accurately and discouraging lenders. This can leave entrepreneurs scrambling to cover expenses during slow periods.
In this article, we’ll look into DSCR ..read more
SMB Compass Blog
2M ago
Business | Business Management
9 Ways to Tailor Your Small Business to Customer Needs
Ezra Cabrera | February 29, 2024
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Whether you run a small medical practice or a long-distance moving company, your business’s effectiveness — and its long-term success — is going to depend largely on how well you can meet your customers’ needs.
When we talk about customer needs, we’re talking about more than just your product. The term encompasses everything from your customers’ need for prompt, friendly service, to their need to ..read more
SMB Compass Blog
3M ago
Accounting | Business | Business Financing | Business Management
4 Tips for Building a Resilient Small Business in Tough Financial Times
Ezra Cabrera | February 6, 2024
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Small businesses everywhere often operate under unpredictable conditions. Global uncertainties and economic downturns impact markets and supply chains that can hinder an organization’s ability to grow.
Building a resilient small business — one that not only survives but continues to perform despite changes to its economic surroundings — requires st ..read more
SMB Compass Blog
3M ago
Business | Business Financing | Business Loans | Small Business Loans
Can I use an EIN to Apply for a Small Business Loan?
Ezra Cabrera | February 2, 2024
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Getting a small business loan can be tricky, especially if your personal credit score isn't great and your business is still new. Most lenders check your personal credit score, and if it's under 650-700, traditional banks and the Small Business Administration may hesitate to give you a loan.
But here's a solution: find a lender that looks at your business's cred ..read more
SMB Compass Blog
3M ago
Business Management
Pros and Cons of Outsourcing for Small Businesses: When and How to Do It
SMB Compass | January 17, 2024
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For many small businesses trying to keep costs as low as possible, outsourcing can be a lifeline. And small business owners have never had access to such a huge, truly global pool of talent. Today’s founders don’t have to pack up and move across the globe to take advantage of more affordable labor. Now they just have to contact an outsourcing agency and hop on Zoom.
Of course, not all ..read more
SMB Compass Blog
4M ago
Bridge loan | Business Financing | Small Business
How to Get Bridge Loans Arizona: A Comprehensive Guide
Ezra Cabrera | December 13, 2023
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Are you an entrepreneur in Phoenix, Chandler, Surprise, or any other city in Arizona looking to finance your business? If so, you may have come across the term "bridge loans."
In this guide, we will delve into the details of bridge loans, their purpose, eligibility requirements, Arizona lenders, and their pros and cons.
What are Bridge Loans?
A bridge loan, sometimes known as ..read more
SMB Compass Blog
4M ago
Business Financing | Small Business | Working Capital
Is It Possible to Get a Business Line of Credit with No Credit Checks?
Ezra Cabrera | December 8, 2023
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Key Takeaways
While traditional lenders may be strict about credit checks, a business line of credit no credit checks may be possible with alternative lenders.
A business line of credit provides small business owners with an option to draw funds from a credit line and use it for urgent expenditures. Unlike with a small business loan, a line of credit won’t r ..read more