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Why Should a Small Business Use an In-House Accounting Software Solution?
When you run a small business, there’s always the question of whether you should perform your accounting yourself or hire an accounting firm. It often depends on the size of the company as to what option is chosen. There’s also a hybrid position where either the bookkeeping or complete accounts are completed on accounting software…
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How LenCred Helps Real Estate Investors Get Unsecured Business Line of Credit Financing
A business line of credit is a form of short-term financing from banks to investors. This financing works by allowing clients to withdraw funds anytime from the line of credit. The bank or financial institution sets the maximum balance the investors are allowed to have on the loan. This loan can be used to meet…
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What to Do About Your SBA Loan Default
Defaulting on any type of business loan can feel like a migraine for business owners. The truth of the matter is while defaulting is a serious matter, the SBA does have a process in place for situations when borrowers cannot afford to repay their debt in full.. The first step is knowing what options are…
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What Entrepreneurs Should Know About Building a Good Credit Score
Building a good FICO credit score is critical for entrepreneurs and small business owners. At some point you may need to obtain capital from a bank or lender. These banks and lenders may require you to have a good credit score to get approved for financing. If you don’t have a good credit score, getting…
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Defaulted on an SBA Loan? SBA Loan Forgiveness Explained
After calculating the cost to start a business, you’ve finally got the funding. The SBA backed your idea and solid business plan to get you a bank loan. Your dream of having your own company is finally coming true. But what happens when loan bills outweigh the business revenue? If you’ve gotten behind and default on…