Business Loan

Lenders Entice Small Businesses with Credit Card Reward Programs

Capital Solutions Bancorp — Mon, 30 Jan 2012 10:33:42 -0500

The National Small Business Association reports that 42% of small business owners carry over a credit card balance according to data from July 2011. This has serious effects on small businesses owners and their credit scores because small business credit cards don't have the same protections that the Credit Card Accountability Responsibility and Disclosure Act of 2009 (CARD Act) gives to consumer credit cards.

Four Must Dos to Buying a Company

Capital Solutions Bancorp — Wed, 16 Nov 2011 19:35:00 -0500

This insufferable economy has worn out many people especially owners who can no longer give their all to their business. Even so, many of these businesses hold a lot of potential and can thrive with the right owner. Now may be a good time to buy a company in order to grow your business, expand your offerings and get more customers.

Score with Your Business Credit Report

Capital Solutions Bancorp — Mon, 03 Oct 2011 12:23:00 -0400

If you need financing services or a bank loan, your credit score will be a big player as creditors use it to determine your company's credit worthiness. Creditors often review a company's credit report whenever the company requests a line, takes out a line of credit or applies for a credit card.

How a Small Business Can Get More Cash Upfront

Capital Solutions Bancorp — Mon, 19 Sep 2011 11:44:45 -0400

A successful event management business has nine employees with an income of $2.7 million in 2010. Despite its success, the owner is struggling to get enough cash up front to prepare for its upcoming projects. The Globe and Mail article describes how this successful small business finds itself in this situation in spite of landing bigger and more projects.

How Expenses, Debt and Accounts Receivables Affect Cash Flow

Capital Solutions Bancorp — Mon, 22 Aug 2011 09:17:10 -0400

A financial statement can show a business has $100,000 when in reality it has much less. Not all financial reports show how much cash a company has in its hands. So a company with plenty of customers and sending out regular invoices could be close to bankruptcy. Take a look at these stories from Basics of Accounting Are Vital to Survival for Entrepreneurs.

Managing Credit Cards for Business

Capital Solutions Bancorp — Mon, 08 Aug 2011 10:06:14 -0400

Some small businesses use personal credit cards for business transactions and working capital. One reason for this is the protections that consumer credit cards get under Credit Card Accountability Responsibility and Disclosure Act (CARD) don't apply to business cards. As a result, businesses use a consumer credit card as a work around to the fees and other drawbacks that come with a business credit card.

Growing Use of Small Business Credit Cards for Working Capital

Capital Solutions Bancorp — Fri, 29 Jul 2011 11:48:35 -0400

As explained in Business Credit Cards Exempt from Credit Card Protections, business credit cards don't receive the same protections as consumer credit cards from the Credit Card Accountability Responsibility and Disclosure Act (CARD) of 2009. The Truth in Lending Act prevents business and commercial credit cards from getting protections covered in CARD.

Current Problems with Small Business Credit Cards

Before You Pursue a Small Business Loan ...

Capital Solutions Bancorp — Tue, 19 Jul 2011 13:31:07 -0400

Before seeking a loan, do a review as suggested in 5 Ways Small Businesses Can Get a Loan. This means considering two things. First, the cash may be available somewhere in your business.

Business Credit Cards Exempt from Credit Card Protections

Capital Solutions Bancorp — Fri, 15 Jul 2011 13:50:44 -0400

In 2009, Congress passed the Credit Card Accountability Responsibility and Disclosure (CARD) Act to protect consumers from unfair practices, such as hidden fees and unexpected rate hikes. As a result, credit card issuers can't increase interest rates in the first year and must send a rate increase notice 45 in advance. You'd think it'd be 45 days before the rate goes up, but it's not.