The Internal Revenue Service is not a lender of last resort. By not paying taxes, you are ultimately borrowing from the Government, at extremely costly rates. The addition of compounding interest and penalties will make a bad situation much worse. Any unpaid taxes due will garner a daily interest rate, plus a monthly 5% penalty [...]

Entrepreneur online mag found three bankers who actually want to make loans to small businesses. In their interview they discuss the current climate and what they like to see when a business approaches them for a loan. If you’ve never applied for a business loan, approaching a bank can seem daunting, and add to that [...]

Sounds great doesn’t it? Well that is exactly what businesses do everyday when they offer credit terms to their customers. Sure it’s considered normal to allow a customer thirty days to get their bookkeeping in order to pay the bills. But many large companies take advantage of credit terms and take 60 – 90 days [...]

Business owners who are operating revenue driven companies often turn to outside sources of capital when looking to grow faster. Either a company can sell shares (and shared ownership) to raise capital or they can borrow against collateral. Collateral usually means some sort of tangible asset such as equipment or account receivables. When using collateral [...]

Great blog post by Thursday Bram who writes for the OPEN Forum: When you’re running a small business, it may seem like deciding between cash and accrual accounting is just one more thing on the long list of things you need to get done. But the fact of the matter is the decision on which [...]

For receivables factoring, securing direct payments is critical to the factoring company. After the factor wires an advance of a creditworthy customer invoice, the factoring agreement requires the proceeds of the invoices are to be sent directly to the accounts receivable finance company. The actual payment has been purchased and belongs to the factor. All [...]