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Posts Tagged ‘Business’

Question by matt c: What small business loans are available for national guardsman?
Looking to start a towing business and I am in search of start up funds. My brother in-law is in the national guard and would be willing to get the Business loan for me due to my credit being fairly low. Are their any special Small business loans available for people in the military, or would we be better going through a traditional bank? Any help is appreciated.

Best answer:

Answer by Henry
Go to http://www.score.org/ and in the upper left hand corner, enter your zip code. On the next screen, you will get information on the nearest SCORE chapter. Call them and arrange for a free meeting with a volunteer SCORE counselor. They will guide you through the process.

SCORE is a nonprofit association dedicated to entrepreneur education and the formation, growth and success of small business nationwide and is a resource partner with the U.S. Small Business Administration (SBA).

SCORE has 350 chapters in locations throughout the United States and its territories, with 13,000 volunteers nationwide. Both working and retired executives and business owners donate time and expertise as business counselors.

What do you think? Answer below!

by davidciani

Article by Mark Shrigley

What percentage of your customers would prefer to pay you with their credit card? It may be higher than you think…

When interviewed, people usually reply that shopping with their credit card is simple and more flexible – hence, most people prefer to use their credit card due to convenience, and in some cases, rewards offered by the issuing company.

Let’s evaluate the primary benefits of accepting credit cards in today’s economy:

1. Accepting credit cards captures the impulse customer – there are many people who buy on impulse. They see something, they like and before they think of the pros and cons of buying it, they have already charged it to their card.

The businesses that don’t accept credit cards, will accept payment by either check or cash or electronic transfer, which takes much more time. During this time (as is often the case), the customer might realize that they actually can do without the product – and the sale is ultimately lost.

2. Accepting credit cards can help acquire international customers – If you sell products online, or if you use EBay(R) to sell items, then accepting credit cards from your customers makes it easier for overseas customers to pay you more promptly – especially when compared to check payments or wire transfers (for large-ticket items).

3. Accepting credit cards makes it drastically safer and easier to get paid – businesses that accept credit cards bank on the high security system the credit card providers have established the world over. Though “headaches” can still occur from time to time, the risks are far more reduced when accepting payment by credit cards than any other form of payment.

Businesses that do not accept credit cards leave themselves open to several hassles through false checks, bounced checks, rejection of COD and so on.

4. Accepting credit cards can often cause the customer to buy more, and more often – businesses that accept payments by credit cards can often profit from a higher average order size due to the ease and flexibility of paying for something on credit. Hence, they allow their customers to stretch their limits of purchase while the businesses that do not accept credit cards cannot benefit from this aspect. People cannot buy more on fixed amounts of cash.

5. Accepting credit cards encourages the buyer to buy now and pay later – as well as benefiting from seasons discounts and rewards that the credit cards providers announce from time to time. This aspect is not available for those who buy on cash or by check, and hence these customers are not tempted to make more purchases.

In most cases, sales volume will increase for the business that accepts credit cards, simply because of the extra motivation they get.

6. Accepting credit cards is very convenient for the customer – if a customer has to choose between paying by credit card or cash, they will often choose to pay by credit card. This is because this payment method is extremely easy.

The business that does not accept payment by credit card will risk losing out on the sale. And consumers are becoming more and more “lenient” with smaller price points – make no mistake. It’s becoming increasingly common for purchases like a $ 4.50 sandwhich to be paid for with a credit card.

7. Accepting credit cards makes the sales process faster – the shopper will always opt to get the things they paid for as fast as possible. Since the credit card payment is instantly credited to the seller, the processing of the purchase is done much faster than through any other type of payment (except for cash).

Hence, customers will prefer to do whatever it takes to get what they want faster. Again, the business that doesn’t accept CC payments loses out…

The above 7 points clearly show some of the benefits a merchant account may provide for your business.

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by Rev. Xanatos Satanicos Bombasticos (ClintJCL)

If you have a new business and are thinking of the best ways to manage your money, then maybe you should consider getting a new business credit card for your company needs. If you have a credit card for your business, it makes money management and purchase monitoring so much easier for your accounting purposes. This may mean that you will have to make extra precautions on paying bills on time and choosing the right trustworthy employees to use them, but in the end the advantage will be that you will have better records.

Having a new business card has several advantages. First, itemization of expenses is done automatically by the credit card company which makes monitoring easy for you. Second, you can prevent mixing personal and business money by using the credit card for purely business expenses.

Third, this is a good way to manage the expenses of the business and to control the purchasing that your employees will do for you.

Because of the transactions records that will come to your business regularly from the credit card company, expenses are easily traceable and accountable. Fourth, getting a business card will also help your business build up its credit history and credibility as an entity.

By creating and maintaining a good credit history for your company, you can be sure that banks will be more than willing to extend your business a good loan at low interest when that time approaches. Fifth, by availing of a company credit or store card, you can be guaranteed that many banks and companies will give you great deals and rewards whenever you use your card to purchase supplies and equipment.

www.Rex.SBCAlliance.com – Does your business need a cash infusion? In thhis time of the Credit Crunch, entrepreneurs are finding Business Credit Cards to be the answer.

Question by cindasl: What is the difference between personal credit cards and business credit cards?
I have a few personal credit cards and I want to consolidate them. I also am self-employed, but I dont’ have a business credit card; although I get LOTS of ads for them in the mail. I’ve always wondered, what is the difference? Are there different rules or fees? Can you only use them for business purchases? Do you have to spend a certain amount to keep them?

Any advice appreciated…

Best answer:

Answer by SCHLANGEMANN
The fees and spending limits for one thing and business credit cards are usually associated with a business and not a given individual, but a business credit card will be tied to the business owner for credit purposes. Business Amex has an annual fee that must be paid and pretty high interest charges, so it’s not a card for everyday use.

Give your answer to this question below!

Some cool Business Credit Cards images:

Credit Cards


Image by Andres Rueda

Gold metal business card


Image by Photasia
18kt gold business card by PureMetalCards.com

by ☼zlady

Article by Pamela Williams

Finding a credit card that suits your business can be a daunting task. With a long list of business credit cards available in the market, choosing one can be confusing. How can you choose a card that matches your business? What important factors should affect your choice? What particular features of a business credit card should you look for?

Comparing Small Business Credit CardsUnlike corporate cards, credit cards for small businesses involve a less complicated process. Small business credit cards are easily available online and you can in fact, get an approval within minutes after submitting your application. The internet is also a convenient tool in comparing different credit card, particularly the ones offered for businesses. You can also read reviews from credit card review websites to learn more about what each card offers.

Usually, the interest rate is one of the primary factors that prospective card holders check on when looking for possible credit cards. Naturally, you’ll want a business credit card that offers the most reasonable rate of all. Nevertheless, the interest rate alone doesn’t determine the true potential of a credit card.

Aside from a reasonable interest, you should also examine the rest of the fees associated with your card. For instance, how much is the annual fee of the card? How much is the late penalty cost? Exactly how much are the transaction fees involved? In addition, some credit cards have more than one APR so you need to be sure which of your payments the low interest applies (purchases, balance transfers, cash advance).

Small Business Credit Cards with RewardsThe type of reward that a business credit card offers should play a major factor with your final decision. To get the most out of the card’s reward program, it is very important to choose a credit card that complements the nature of your business. Are you into buying and selling? Perhaps a business credit card with a cash back reward program is the best choice for you. Do you often travel abroad to meet clients or promote your business? Then maybe a travel reward credit card would enable you to save more from your travel expenses.

Again, your choice of reward credit card would depend on the kind of business that you do. If you’ve decided to apply for a small business credit card with rewards, take your time in exploring your options. In addition, remember that most reward credit cards require good to excellent credit. Is your credit rating good enough to qualify you for the best reward business credit cards in the market? To avoid getting rejected, it’s best to check on your credit report first before submitting your application.

Once you’ve narrowed down your choices to only two or three business credit cards, it’s time to dig deeper about the card’s terms and conditions. Read the fine print in full even if it means spending more of your time. The real costs of a credit card are revealed in the agreement and if you won’t take the initiative to understand the agreement, you could end up with a credit card that doesn’t work for your business.