Small Business Loans

November 13, 2017
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Whatever the size of your business, a well-managed budget plays an essential role in your success. Nevertheless, being a small business owner, you might be pressured to manage your budget correctly. You will also encounter a difficulty with back-up funds. For you to make a profit and balance other expenditures, you have to create a strong, concrete and effective budgeting plan ahead of time.

Money or finances is a complicated topic to deal with. But lack of efficient financial planning could cause your startup to fail in an instant. By spending your time to focus on your budget, you will not use your precious time on expenses. You will heed on your business instead. So, how are you going to manage your principal effectively?

Budget by department

Even though your startup might be small and may not have many departments, it is imperative to manage your budget just like large corporations do. You can take your past financial plan as your guideline and base your future budget on it. That way, you can determine where your leftover budget came from, which departments met their goals, etc.

You can also hire a professional who specializes in this process for a more effective and efficient departmental budget.

Always plan ahead

Looking ahead at the calendar of your business is useful. You can start by asking yourself what your future expenses will be. It is also significant to focus on the larger aspects of your business such as new staff recruitment and office renovation.

To utilize your money properly, plan out your expenses and consult with your team, so you don’t find yourself at a point where you have underestimated your budget.

Be ready to experience the worst scenarios

Unexpected expenses can be your worst nightmare. You have to be prepared to experience such problems. You should always have an emergency fund in case you fall into a financial dilemma.

In case you do not have a backup budget, do not worry as there are companies that provide small business loans. OneBox Funding can help you find the right loan for your business.

Learn how to prioritize

If your business has been  making high revenues for the past few months, make sure to prioritize your expenses so you don’t find your self in a loss. It will help you reduce unnecessary costs and balance your financials.

When your budget is not enough to meet your goals, why not consider OneBox Funding. As long as you can pay your debt, you have high chances for a loan approval with fair interest rates.


October 19, 2017
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Every business operates successfully as a result of its stability when it comes to finances. However, there are some companies who would avail business loans in order to maintain the operations. But not all companies are able to pay their debts successfully. As a result, they acquire bad credit and their credit score is affected.

A business with bad credit may harm its reputation. As we all know, consumers trust companies that they know are stable and will never have a problem when it comes to money. If your business has bad credit, you better fix it right away to avoid affecting your credit score.

Furthermore, there are companies who don’t give importance to their credit score. Without knowing, having a good credit score is their ticket in acquiring small business loans since this score shows that your finances are in a healthy state.

Also, with a good credit score, your way to bad credit is far and will be able to acquire business loans which you can use for your business’ capital and fund the growth of your venture.

Fixing Business Bad Credit: How?

It is not easy to fix your business bad credit but you can do it one step a time and eventually, you may be free from the bad credit and start earning good credit score again.

Here are some actions you can take to fix your bad credit in your business.

Always be on time when paying your bills

Your credit score can be affected by the way you pay your bills. If you always fail to pay on time, you will surely end up having a bad credit. On the other hand, if you are always on time when it comes to bills payment, your credit score will surely increase.

Separate personal and business funds

If you want to fix your bad credit, don’t let your personal funds mix up with your business funds. Thus, whenever you would purchase something, it is best if you have separate accounts for your business and personal funds. This way, you can easily track your finances.

Establish good relationship with vendors

Having a well-established relationship with vendors will help you get out of bad business credit. Thus, you should build a good connection with your suppliers and merchants for them to always report on time to credit bureaus. Your relationship between vendors can be a good way to let them report that you have good payments on agencies that handle credit reporting.

Having bad credit for a business is not good because it may risk your reputation and may harm your business’s operations. If you have bad credit, don’t wait for it to get worse, act immediately and fix it in order to regain the good credit score you once had. When you have a good credit score, you will be able to apply for different small business loans which you can use as capital or as a fund for your operations. OneBox Funding experts will take you through all the steps of acquiring a loan for your business.