If you own a business, then you’ve undoubtedly heard about rising prime rates. And those predictions are in fact coming true, with the first rate hike occurring just yesterday, March 16, 2022. What does this mean for your organization, and how can you plan for success with increased interest rates in mind? Addressing Rising Prime Rates You may already know that increased interest rates affect every facet of the economy. People often associate this rise with changes in their mortgage or...

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There comes a time for every business where you will consider a loan. You may need the additional funds for an expansion, equipment, inventory, or even hiring new talent. If you see a small business loan in the future, you may wonder about your credit score's importance. Just how important is your credit profile when applying for a loan? Follow our guide and learn more about how your credit profile plays a role. What Credit Score is Needed for Small Business Loans? There is no magic...

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For many businesses, preparations and year-end organization planning look very different this year. It may seem like a little early to be making the decisions, setting strategies, and buying new equipment for the new year, but there are a few additional factors at play that can disrupt your business.  Year-end business purchase decisions need to be completed faster this year because of delivery shortages and other delays. Customers and business owners alike have not missed the impact supply...

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For equipment retailers, leveraging affordable financing options is almost as important as the product features you are selling, when closing the deal. Conversations between dealers and their clients usually start with defining what is needed to do the job: features, functionality, model and manufacturer options. The discussion typically moves into pricing and affordability.  Letting buyers know, early in the sale process, that financing is available moves that buyer one step further down...

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Have you ever heard or repeated the phrase, “You have to spend money to make money”? If so, you might be the owner of a small business. Access to a business line of credit allows small businesses to execute daily functions, cover daily expenses, purchase inventory, hire staff, and much more. Business owners know that keeping a company’s ship afloat means understanding cash flow and profits–it’s not all about how much you have in the bank at one time. Fortunately,...

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As the economy begins to recover from the pandemic, mortgage rates are beginning to climb from record lows. The beginning of March saw mortgage rates rise above 3% for the first time in seven months. Even so, lower-than-average mortgage options are driving people to want to buy at a quicker pace or make a commercial investment for the first time. It’s not just home loans that offer investment opportunities. Commercial real estate is a hot topic right now as well. If you are considering...

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When you are younger and need some spare money to fix your car or pay an unexpected bill, you might borrow money from your family or get a part-time job. When a new business needs start-up capital to get on their feet, the options are much more deliberate and thoughtful. There are two main options when earning capital to start a business: taking out a business loan from a financial institution or partnering with an investor. Of course, there are benefits and drawbacks to each option. Borrowing...

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