The Source

This week in The Source

Collateral Coverage Ratio: What You Should Know

5 minute read

February 10, 2021

Collateral is an asset you pledge in order to secure a loan from a financial institution. Types of collateral may include real estate, inventory, or equipment. If you default on your loan, your lender typically...

Working Capital

4 Reasons to Consider a Second Draw PPP Loan

5 minute read

February 9, 2021

While they weren’t without controversy, Paycheck Protection Program (PPP) loans helped many small businesses that were struggling due to the COVID-19 pandemic. However, once the money ran out, millions of other small business owners remained...

Technology

10 Business Credit Card Scanner Apps to Consider

5 minute read

February 9, 2021

As a small business owner, you know that credit card payments are more popular today than ever before. Most customers prefer to pay with credit cards over cash and check. Not only are credit cards...

Small Business

Credit Cards vs. Debit Cards: What’s Right for a Business?

5 minute read

February 4, 2021

As a business owner, you have many choices when it comes to almost every aspect of your company’s finances. This is particularly true when it comes to choosing whether to manage your daily spending with...

Working Capital

How to Select the Right Minority Business Loans and Grants

5 minute read

January 31, 2021

Minority-owned businesses in the United States generate more than one trillion dollars in annual revenue. Therefore, if you’re a minority business owner, you’ve played a critical role in the success of the U.S. economy.

Working Capital

PPP Loan Forgiveness: What You Should Know

5 minute read

January 22, 2021

In response to the coronavirus pandemic, the Small Business Administration (SBA) launched the Paycheck Protection Program (PPP) in April 2020. It was part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The goal...

Working Capital

How to Apply for Bridge Financing

5 minute read

January 22, 2021

As a small business owner, you may find yourself needing funds to cover costs for a short time before you can secure permanent financing, improve cash flow, or receive customer payments.

Working Capital

Should You Pay Off Your SBA Loan Early?

5 minute read

January 19, 2021

If you’ve secured an SBA loan, congratulations! You’ll reap a variety of benefits including a lengthy repayment period.

Working Capital

What Are The Top Pros and Cons of Payroll Business Loans?

5 minute read

January 19, 2021

Failing to pay employees on time and in full comes with serious consequences. As a small business owner, you could face lawsuits, legal actions, fines, a tarnished reputation, and damaged employee relationships. Therefore, it’s smart...