The COVID-19 pandemic was a reckoning for the hospitality industry. Business structures that had proved successful for decades were tested and bent under the weight of record-low occupancy. The unexpected champions, then, of COVID-era hospitality were smaller boutique hotels who were able to financially withstand the sudden loss of guests brought on by the pandemic. […]
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Those seeking an SBA loan are likely familiar with the association’s sometimes confusing collateral requirements. Small business owners are required to name some amount of collateral when applying for an SBA loan, but it can be difficult to determine ahead of time how much collateral may be expected to finalize a loan or what necessarily […]
An effective means to expedite a business’s growth is tactical commercial financing. A factor that may dissuade businesses from finalizing a loan agreement, however, is fear of default and the subsequent recourse from lenders. There are actually several types of loans where lenders will agree to not seek recourse after borrower default, which are known […]
Corporate loans are one of the most effective financing options for companies seeking to fund a new project or simply improve their cash flow. A corporate loan accounts for any kind of financing offered to a business, not an individual. There, however, are several kinds of corporate loans, all with their own terms and requirements. […]
Even though none of us were in Philadelphia 245 years ago, the gravity of the signing of the Declaration of Independence still resonates today. While Americans enjoy 4th of July festivities, which for many is a return to tradition after a 2020 hiatus, let us think of the modern day revolutionaries: small business owners. Like […]
Maintaining a steady flow of working capital, otherwise known as operating capital, is the basis of a successful business. Many businesses, however, may have trouble keeping a steady flow of working capital even though they are profitable . Companies with seasonal highs, cyclical customers, or only a few clients accounting for large percentages of income […]
Did you know that an over-reliance on a regular customer base is an easy crutch that all too many small business owners lean on? This is especially dangerous when you have one or two clients that are responsible for the majority of your revenue, because businesses that become too comfortable with only serving their regulars […]
Non-notification factoring is a type of invoice factoring arrangement between a business and their factor that limits the interaction between the factor and the customer as much as possible. There are a variety of reasons why a business may pursue a non-notification factoring deal, but the results for the business, factor and client are often […]
The modern era has cemented businesses and companies as one of the most powerful bodies with the ability to shape social change. When companies make a statement, people often notice. It is critical then that companies and businesses know how to harness good attention and meaningfully address bad attention. The COVID-19 pandemic further proved that […]
For virtual, hybrid, or even fully in-person workforces productivity software has become the newest must-have technology for organizing team members and upcoming projects. Productivity software is any program that boosts team member productivity by putting all documents, calendars, databases, and files in an easily accessible digital format on one platform. Corporate giants have turned to […]