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Showing posts from May, 2019

Get a Business Credit Card to Build Your Startup’s Credit

Building business credit creates more financial opportunities for your business. Banks, lenders, and other suppliers all rely on business credit reports to assess the creditworthiness of your company. According to the Small Business Administration,  46 percent of businesses used personal credit cards  for business expenses. This statistic shows that many businesses fail to separate business and personal expenses, which is necessary to establish business credit. Why should I use a business credit card instead of a personal credit card? Business credit acts as your business’s financial reputation. If you can borrow money as an individual, why go through the trouble of borrowing in the name of your business? 1. Business credit cards help separate personal and business finances If you’re looking to borrow or  apply for credit or loans  using your personal information for your business, you’ll use your Social Security Number. Any problems with your business would then go on

The 5 Best Credit Card Processing Companies for Startups

As an entrepreneur, you’ve got 100 things to check off your list before you can open for business. Among the most important, but often overlooked, is providing a means through which your customers can pay you. Given that  over 75% of transactions  involve either a debit, credit, prepaid, or gift card, that means finding a credit card processor. For most entrepreneurs, the search for merchant services starts with their bank, as most banks either offer their own credit card processing service, or have a relationship with a provider that they recommend. Although you may love your banking services or trust the brand name you’ve seen over the years, those credit card processing companies generally aren’t the best solution for startups, because they are expensive and because they don’t offer the flexibility or services provided by startup-oriented providers. While compared to choices that startups face like where to sign a lease, or what equipment to buy, choosing your credit card