When you are looking for ways to increase the start-up capital of the business you are putting up, there are many financial institutions that offer the type of loans that will fit your business needs. These entities include commercial, trust and saving banks; straight commercial lenders and even credit card companies for individuals who are holding high valued credit cards with a very high credit limit. When contemplating in filing for a business loan, you must first know and understand the various types of business loans available on the market today. This will enable you to review and select the most appropriate loan package that would suit your need. Line-of-Credit is one type of business loan available from any loan company that exists in the market today.
Line-of-Credit loans are business loans more suited for small businesses. It is a kind of a bank loan that is more permanent in nature because it basically protects the business from cash flow emergencies. Line-of-credit loans are usually intended for the purchase of inventory goods and payment for the operational cost of the business. They are never intended for the purchase of any fixed assets such as business equipment or properties for the business. The main function of a line-of-credit loan is to extend or automatically increase the checking account of the business to a specific amount but enough to cover any payment shortage transaction made by the business. The extended cash is actually a form of cash advance from the lending institution and this, of course, will incur interest from the time the cash was advanced by the bank until such time it’s paid back in full.
In most banks and lending companies, line-of-credit incurs the least interest rate and the loan is sometimes considered to be a form of flexible loans because of the following reasons. First, the borrowers are given the right to cancel the loan in the event their businesses are compromised; second, interest remittances can be done on a monthly basis or depending on what was agreed on between the bank and the borrower. Third and most important of all, the principal amount can be paid off at the borrower’s convenience. Because of the loan’s flexibility, most lending institutions only provides a one year term on its applicability. However, there can be an agreement between the borrower and the lender to include a condition on the contract allowing an automatic renewal of the loan but with an annual fee to pay by the borrower.
Like any other forms of financial loan packages, line-of-credit is neither healthy nor unhealthy for businesses and the advantage or disadvantage of this loan to any commercial trade depends entirely on how it is used. Just like in any situation, anything excessive can be bad and excessive borrowing against line-of-credit can be bad for business. As in the case of any other type of business loan, borrowers should seriously study the terms and conditions of loans including fees, interest rates, and repayment schedules. A serious and thorough study of loan packages you intend to avail of will protect you from any legal problems that may occur in the future.
Poor conversation rates, failed to generate new topics to write, no weekly updates on the website are just some of the alarming signs you should consider outsourcing a pool of writers.
Almost 80% of business owners prefer to study and gain knowledge about a company or direct competitors, by reading an article compared to simple advertisements. Content gives them the idea about the strength and weaknesses of the competitors in the industry.
If you are hesitant and not willing to delegate content creation, let these signs to wake you up and start outsourcing writers.
Tight content schedule
Are you running out of time, does your competitor is excessively ahead of you? this is not good for your business. Outsourcing a writer can help you lessen your worries of being beaten by your competitors. A professional writer can produce a minimum of five articles (300 words each) per day, just imagine the advantages it offers to you as the business owner.
You love writing but it doesn’t love you back at all.
Anyone can write but it takes someone to compose multiple articles that drive leads and increase your conversion rates. Without outsourcing a writer, there’s no guarantee that you can prevent in publishing poor quality content. A poor quality content is not a good idea if you want to be an authority or expert in your niche.
Researching takes up too much of your time.
An outsourcing writer can conduct research for you, make a list of topics ideal for your business and wait for your approval. Let the outsourcing writer do the dirty work and produce high-quality and SEO-friendly content for your business.
Outsourcing a professional writer for your business’ content creation can help you to be productive in other important aspects of your business such as client acquisition, client retention, generating leads, and customer relationship management.
Due to the economy these past few years, husband and wife should work to make ends meet and provide a better future for their kids. Meanwhile, for the stay at home moms who have no choice but to take care of the little ones, the internet has made your lives easier. Establishing an online business is never a problem anymore.
If you can’t stop thinking about earning money simultaneously and your entrepreneurial spirit keeps on bugging you, here are some of the online business you can start in the comfort of your home.
The travel website is one of the best niches you can take consider. People are always on the lookout for new places, restaurants to eat and exhilarating activities. If you keep on updating your website, uploading new articles and add more freebies, you may get more audiences. In addition to that, you can also apply affiliate marketing to your website.
Meaning, you get a commission every time a site visitor clicks any of the ads you have on the site. If you’re affiliated with Amazon or Lazada you may also get commission fees for each purchase.
Sell Online Courses
Many freelancers and interested individuals are now enrolling in online courses to improve and add more skills. Compared to the traditional schools, online courses offer cheaper rates and convenience to everyone enrolled.
You can automate the payment and offer online courses is definitely not time-consuming, as the lessons are recorded ahead of time. To start selling online courses as your online business, here are some of the topics:
- Graphics Design
- Personal Development
- Health and Fitness
If you love baking cookies, cake, bread and of course cupcakes, you can create a profile to Instagram and Facebook to post your products. Then, partner with a reliable courier near your area to deliver the goods to your customers. This is an example of turning your hobbies into an online business to make a profit. Positive results in your online business will never happen overnight. Thus, you need to work it out and you must have the perseverance to make it grow.
Outsourcing has been embraced by many businesses in the past years. However, not all get the services that they expect. This is because many business owners fail to get the right transcription services from the right outsourcing companies.
A business credit card can bring a lot of advantages for a business. It can help in keeping track of the employee’s expenditure and monitoring if they are going beyond what is allowed to a point where the business takes advantage of the reward points it generates for all the expenditures the company and its employees take.
Fast cash loans or business credit cards are also becoming a necessity that can be used inconveniently paying for services or purchasing goods from suppliers. But how do we identify if a business is ready to get a business loan or credit card? Here are a few points that the business may consider before getting one.
- The need to stay organized
When you identify that you need a more organized way of keeping track of your expenses, a business credit card can help. A business credit card comes with the use of an accounting software tool that will help you manage the expenses your business may have. And if you issue business credit cards to your employees, their company related expenditures will be tracked as well.
- The need to build credit
One good way for a business to build credit is to maintain a business credit card. This gives you an advantage of increasing the business’ credit scoring. A business credit card expenditure can be reported to a business credit reporting organization who will keep track of the business credit standing.
- The need to delegate spending
Issuing a business credit card to employees allow you to delegate and monitor spending for one person. This may be in the case of a group activity where avoiding multiple expense reports that need to be filed by each employee. Issuing a business credit card simplifies the expense reporting under a single account. Also, with the accounting software tool that comes with the business credit card, it simplifies the bookkeeping as well.
- The need to purchase protections
Finally, there are certain purchase protections that business credit card issuers offer. They may refund items that are purchased and damaged, extend warranties or even reimburse purchases even in cases where the merchants do not accept returns. Purchase protections can be advantageous to the business and its owners.