by Christina Lee on April 1st, 2009
Using bailout funds to expand existing small business credit lines is what two senators called a “common-sense solution” – one they hope to discuss soon with the Treasury Department.
Sens. Mary Landrieu, D-La., and Olympia Snowe, R-Maine, representing the U.S. Senate Committee on Small Business and Entrepreneurship, wrote a letter addressed to U.S. Treasury Secretary Timothy Geithner. It results from a March 19 hearing, where entrepreneurs discussed how credit and loan options have diminished despite perfect payment histories.
“Without our help, small businesses won’t be able to fulfill their role as the engine of economic growth at a time when... Read more »
by Carrie Hinkel on February 29th, 2008
If you’ve shied away from getting a business credit card because you think you don’t need one, that it costs too much, or that you don’t make enough purchases, then think again! Using a business credit can actually save you money and time – yes really! And for small business owners, those are your two most precious business commodities.
Advantages for having a credit card for your small business
Perks – With so many companies offering credit cards, there’s a lot of competition for your business. Today, credit cards are offering cash back, airline miles, hotel stays, merchandise and a... Read more »
by Danny Brown on November 15th, 2007
One of the key areas for any sized business is having a product or service to sell – after all, without this, where will you get your customers? This is why arranging credit with wholesale suppliers is so important, especially for smaller businesses. With credit in place, you can concentrate more on how best to service your customers, with the knowledge you have a line of credit with your wholesale suppliers for your goods.
Yet arranging credit with wholesale suppliers can be difficult if you’re unsure of the process or if this is your first start-up business. Thankfully, there are... Read more »
by Leeia Ladipoh on October 3rd, 2007
One of the buzz phrases that will often come up in small business dialogue is the business line of credit. This is basically an amount of money forwarded by a financial institution (usually a bank) which the business owner can use at her or his discretion for business expenditures.
There is usually a cap on how much the business owner can spend, such as $100,000, but any amount up to this can be used. In this article, we will take a look at some of the advantages and disadvantages of business lines of credit. Hopefully, you can use this information... Read more »