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Small Businesses: How To Manage Your Loans During A Recession
Understanding what a recession is and how small businesses should manage their loans during one are important steps in planning for the future. What is a Recession? A recession is a period of economic decline that lasts more than a few months, typically lasting six months or longer. It is characterized by reduced spending, unemployment,…
What are the Pros and Cons of SBA Loans For Small Businesses?
Small businesses have been vital to the health of our economy for generations. They create jobs consumers access to a variety of goods and services, and in many cases, even change entire industries with their innovations. But starting any business requires capital — and small business owners often don’t have deep pockets or easy access…
What is Compound Interest and How Does It Work?
Compound interest is an interesting financial concept that affects the lives of many people and businesses around the world. Compound interest is a type of interest which is calculated not only on the initial principal amount, but also on any accumulated interest from previous periods. This concept can be quite advantageous for those with long-term…
Should You Consolidate Your Small Business Debt?
Debt consolidation is a process that allows small business owners to consolidate their high-interest debt into one manageable payment. It involves taking out a single loan with a lower interest rate and using it to pay off multiple existing debts. Debt consolidation can help small businesses streamline payments, reduce stress and save money in the…
5 Steps to Lower the Cost of Your Debt
It’s no secret that debt can be crippling for a small business. Debt payments often eat away at profits, making it difficult to reinvest in the business or pay employees adequately. Fortunately, there are ways to lower the cost of your debt and free up more capital for growth. Here are some tips to help…