Tags: bad credit, business credit, loans for women In today’s challenging economy, business owners should be diligent in protecting and, if necessary, repairing their business credit reports.

Unfortunately there’s not much helpful information regarding business credit repair and how you go about correcting errors, inaccuracies or obsolete information on your files with the three main business credit bureaus.

Just the other day one of my members was debating whether to purchase a shelf corporation or work on his existing entity which had two derogatory marks on its DNB file.

He felt it would be much easier to start over instead of working on repairing his existing file because he had no idea of how to go about correcting it.

I suggested he follow some simple steps to initiate an investigation and after one business day his file was updated and the negative marks were both deleted on his file.

This is why it’s so important to monitor your files because the only one who is policing them and ensuring that the data being reported is accurate is you!

There are currently no laws that protect business owners from unfair business credit reporting, like the Fair Credit Reporting Act does for consumers. Business credit repair starts with you and in order to help you I’ve put together several steps you will need to take to initiate an investigation with the business credit bureaus.

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With this present economic situation, no wonder why everybody is concerned about the future. More employees are been laid off from their companies and finding another job is difficult. With this unemployment arising many people turn to small businesses to have stable source of income. In fact, it is said that small businesses are now considered as the backbone of the American economy.

Are you thinking about starting your own small business as well? If yes, Read the rest of this entry »

Small business finances can be confusing unless you know the trick to negotiating the best deals, sourcing funding, and most important of all, knowing how to keep the cash flowing. More and more financial experts are recommending invoice factoring as a proven financial strategy for a small business stay afloat during these tough times.

Invoice factoring has been around for more than 4,000 years. During the last 15-year period, small businesses created some 65 percent of the net new jobs in the private sector, according to “An Analysis of Small Business and Jobs,” a March 2010 report.(Source: Small Business Administration and the Office of Advocacy.)

It seems like the most important tip to remain successful in your business is to have sufficient cash flow. this is why you need to plan a budget a year out, and you need to think about how outside events will affect your budget planning.

Today, people need to be realistic, and have a plan in case their main customer goes bankrupt. Or what if another good customer decides to move? For example, do you know how much of your sales these customers have been generating? What if two or three of your customers don’t pay your invoices on time?

Invoice factoring is not a lending service – it’s really a discounted purchase. Factoring can help resolve some of these types of issues and it can also make your marketing budget work better, and help you improve operations, increase profits, buy more supplies and pay your bills on time. It does not matter if you are a start up business or one that has been around for many years, companies everywhere in the United States are struggling to make a profit. One of the world’s oldest methods of finance, invoice factoring, also known as accounts receivable factoring, provides small to medium-sized business owners with working capital when traditional funding is not available – such as bank loans or credit. The financial practice of factoring dates back to the ancient Roman civilization.

Using invoice factoring is one of the most effective ways for a business to raise working capital for ongoing operations or planned expansion. There are a number of other items that factoring resolves:

1. Has no limits and provides fast results Stimulates economic growth, allowing expansion without debt.
2. Provides a small business with continuous working capital, increasing their cash flow.
3. Is accessible and flexible.
4. Increases production and sales.

There are a variety of ways that a business can survive an economic slowdown, including reducing business costs, planning for future growth and measuring the growth.

It is more important than ever today to remain cash rich during this economic recovery. Through careful budget planning, watching expenses and the use of invoice factoring, small businesses can survive and come out of the recent recession on top, which will ultimately create more jobs, and fuel a better economy in the future.

Author-Bio: Kristin Gabriel works with The Interface Financial Group, North America’s largest alternative funding source for small business. The company provides short-term financial resources including accounts receivable factoring and serves clients in more than 30 industries in the United States, Canada, Australia and New Zealand. IFG offers expertise in factoring, accounting, financing, law, marketing and banking. http://www.ifgnetwork.com