Month: November 2022

7 Tips for Building a Great Business Credit Score

7 Tips for Building a Great Business Credit Score

We’ve explained why your business credit score matters — it can help you secure financing, receive better insurance rates, and negotiate the terms of your lease. Now we’re focusing on the ways you can improve your business credit score, so you can enjoy those benefits and more.

Basics for Building Business Credit

To build positive business credit history, you should follow many of the same principles for building personal credit. We’ll go over them here, along with business-specific tips.

  1. Make sure your personal credit is separate from your business credit. 

To establish good business credit, you’ll first want to make sure your business credit profile is actually established. That means opening a commercial banking account to keep your business’s funds separate from your personal funds. From there, you can apply for and receive business funding separate from your personal credit.

  1. Pay early or on time.

Once you’ve been approved for business credit, it’s critical that you make all payments for your outstanding debts on time. This will be the most impactful part of your business credit score. Not only will you improve your credit score by paying on time, but you won’t have

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How to Increase Security at Your Small Business

How to Increase Security at Your Small Business

Whether you have a dedicated IT team, sell your products online or simply use a computer for work tasks, it’s important to follow the latest security guidelines to help protect your data. Although security threats are ever changing, you can help safeguard information with a few solid tactics. Read these everyday tips we follow at The Business Backer to help keep your business more secure.


Follow Password Safety Best Practices

Weak passwords are one of the biggest security vulnerabilities when it comes to cyberattacks and account takeovers. In order to avoid password-related breaches, you may want to set up network guidelines to require a new password every couple of months, or talk to an IT professional to help set up password regulations for your work computers. Ideally, all computer users should regularly update all passwords used with a combination of letters, symbols and numbers. You can make managing passwords easier and more secure with the following technology:

  • Two-Factor Authorization: This option requires an additional step, like entering a code from a trusted device, to verify the identity of the user upon login.
  • Password Manager: You can use an encrypted password manager to
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Learn How To Start A Debt Collection Business

New Business WebsiteDefining websites is more sophisticated now than ever thanks to the diversification and improvement of sources and technology. Below is a breakdown of various kinds of web sites you’ll be able to encounter on the World Wide Web.

You most likely don’t need your prospective customers to see that you just’re using a Gmail e mail address equivalent to jane@. All companies want promotion. Take your first step into on-line marketing with an entry within the digital equivalents of phone book, or for full-fledged search engine advertising. Getting a customized business e mail handle is fairly straightforward, fast and low-cost. Our advice is to use G Suite which is powered by Google. Just as you may hire an expert to design your website, you may also want to consider hiring an expert to jot down and structure your content material.

There is no such thing as an ideal web site builder for everyone. Some business website builders will work better for some folks. As lengthy as you aren’t getting facet-tracked by fancy tools that you simply might probably use 5 years down the highway, you’ll be high-quality. Hey Connie Wong , That’s really simple and straightforward steps to create enterprise …

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What Is an EBS? – The Business Backer

What Is an EBS?

When you apply for a small business loan, you may be asked to provide an EBS, or electronic bank statement. Generally, a special type of software is used to interpret and transmit data from an EBS file to other financial technology. This software, sometimes referred to as a data transfer service, helps provide a safe way to send information across financial institutions, lenders and other services. The Business Backer uses Plaid, a secure data transfer service that can quickly connect to your bank account for fast and easy transmission.


Why Was I Asked To Provide an EBS?

Lenders generally ask you to provide bank statements, financial data and/or link to a data transfer service in order to verify the information provided on loan applications, as well as to make sure that you can reasonably afford to take out the loan. Using an electronic bank statement can help save time when you apply for a loan when compared to other document submission methods.


What Is Plaid?

Plaid is a popular data transfer service that safely and securely transmits data from your bank account when needed, like when you apply for a loan or

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How to Choose the Right Type of Loan for Your Needs

How to Choose the Right Type of Loan for Your Needs

Funding your business with outside capital is often necessary to help it grow and realize its full potential. If you’re in the market for small business capital, you may quickly realize there are many funding methods available. Read our guide to learn what to look for when choosing the right financing method for your company.


Determine Your Funding Needs

There are a few different types of business financing available to suit your funding needs. One of the main differences is whether you need ongoing capital from some type of revolving credit, or a larger lump sum from a small business loan.

Additionally, the funding timeline varies widely by lender. Small business creditors like The Business Backer work hard to make the funding process as easy and efficient as possible. Other business lenders, including banks and credit unions, can take much longer to review applications and fund approved borrowers.


Assess the Available Business Funding Options

You may qualify for more than one type of loan to help fund your business. Some businesses choose to leverage more than one financing method to manage larger business expenses and pay for everyday costs. Some business funding

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Does Cash Flow Affect My Business Loan Application?

Does Cash Flow Affect My Business Loan Application?

When you apply for small business funding, lenders take a variety of factors into consideration before making a decision. Details such as your credit score, time in business and revenue are important, but what you may not have considered is your business’s cash flow. Read our quick guide to learn more about cash flow and how it can impact a small business loan application. 


What Is Cash Flow?

Cash flow is defined as the net amount of money transferred into and out of a company over a set time period. A positive cash flow indicates that more money is moving into the company than out of it, whereas a negative cash flow means that the business is spending more cash than it generates in revenue. Read this guide to learn how to calculate cash flow and access free cash flow statement templates.


How Does Cash Flow Affect My Loan Application? 

Small business lenders typically ask for bank statements and other financial data to determine whether you have positive cash flow and can afford to take out the loan. If you have a history of positive cash flow, you’re more likely

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Pope Warns Media Over ‘Sin’ Of Spreading Fake News, Smearing Politicians (2)

Business MagazineSteve Steinour has been involved in more than 30 mergers and acquisitions over the course of his career. But Huntington Bank’s acquisition of FirstMerit Corp. last yr for $three.4 billion was the largest in the financial institution’s historical past.

The finest recommendation at this stage? Read on, learn from what I did and persevere. I am now full time, purely as a result of I even have so many sources of on-line writing jobs and journal work that I cannot manage all of it half time anymore – so believe me once I say it CAN be completed. In the end it all relies on whether or not you are able to put within the effort or not. There are plenty of on-line writing gigs out there for everybody – to not mention all of the magazines you can write for as nicely.

It could be very easy to start publishing content on the Internet. There are many free instruments like Blogger () and WordPress () that will let you immediately launch an internet site. However if you wish to run a critical on-line magazine with a personalized design and multiple income streams you have to to speculate it getting …

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How to Dispute Errors on Your Credit Report

How to Dispute Errors on Your Credit Report

If you’re in need of small business financing, both your personal and business credit can affect your ability to secure a small business loan. Your personal credit health is especially important if your business is relatively new or hasn’t taken out a loan in the past.

Although credit reporting errors are relatively rare, such errors can negatively impact your credit scores. Learn how to access your full credit reports and dispute any reporting errors with our helpful guide.


Step 1: Access Your Full Credit Reports

There are three major personal credit reporting bureaus and three major business credit bureaus. Make sure to monitor your full credit reports from all major credit bureaus to get the full picture of your credit health.

To access your personal credit reports, head to or use the links below:


To access your business credit reports, contact each bureau directly:


Step 2: Review Your Credit Report

Next, make sure all your information is complete and correct. It’s especially important that your financial data is accurate and free of errors, including your payment history, credit accounts and outstanding debt.

Personal credit reports may include:

  • Personally identifiable information
  • Credit
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25 Small Business Ideas You Can Start With Low Capital

Starting A Small BusinessThe concept of beginning their very own small enterprise is very exciting to some people, and some of them go ahead with it. Nonetheless, most new companies fail. With no additional hire or utility payments, and the power to make use of your existing cellphone, pc and internet set-up you are able to get your online business started with no real risk. Operating your small business from house also means you do not need the extra expense of commuting. A small business can generally be run by just one or two folks, which means no want to rent further workers, cope with payrolls and different difficult areas that larger companies face.

At its core, writing a business plan is about considering by means of and answering tough questions about your small business—questions that, when thought-about, will pressure you to contemplate the purpose of your corporation, the market you serve, and challenges you won’t have thought of otherwise. When achieved appropriately, the method of writing your business plan will lead you to refine your initial thought into one thing much more resilient and clear, which guarantees future success.

What expertise do you’ve gotten? Figuring out methods to begin a small business …

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4 Ways Multiple Financing Options Can Help Grow Your Business

4 Ways Multiple Financing Options Can Help Grow Your Business

Running a business is full of challenges, and growth can add new ones. Adequate funding helps you meet every opportunity head-on.

In today’s unpredictable environment, it’s important to know what options are available — and how they can work together to help your business grow. Each unique situation calls for a unique approach.

Looking to tackle the next chapter of your business? Here are four reasons why you may want to combine multiple financing options to do it.


1. Combining Financing Options Can Provide Additional Funds

A small business loan can be a great way to give your company the boost it needs to get off the ground. But what happens when you encounter a new growth opportunity that requires additional funding?

Combining multiple financing options is one way to keep the momentum up. Do you need to cover expenses? Has growth started to outpace your ability to keep up? Is there an unexpected opportunity you want to take advantage of? There are many types of financing that work in conjunction with your current plan to give your business the boost it needs.

Explore your options by talking with your lender —

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