An employer-sponsored retirement plan that allows employees to add pre-taxed income to a retirement savings account. The funds will be taxed, however, once the employee makes a withdrawal from the account. Oftentimes, employers will also make contributions to the employee’s 401(k). 401(k)s are portable, so when an employee moves jobs their retirement account will go with them.
Accounting is the recording of financial transactions. Accounting for your business includes storing, sorting, retrieving, summarizing, and presenting the information in various reports and analyses. Potential lenders may ask for a summary of your business accounting as part of your loan application. Learn more about what you might need to collect for a loan application.
Accounts payable (AP) is an accounting entry detailing your debts to creditors. Accounts payable are sometimes be referred to as "payables," and usually refer to goods or services received. Your list of payables is an important part of your balance sheet.
Accounts receivable (AR) refers to money that customers and other institutions owe your business. Usually receivables are organized by notes, statements, invoices or other written evidence. You should include your receivables on your balance sheet to maintain a record of how money is flowing in and out of your business.
Los activos en una pequeña empresa incluyen todo lo que se puede usar para pagar deudas. Los activos "líquidos" o "tangibles" pueden venderse rápidamente y convertirse en efectivo, o utilizarse como bienes afectados por la garantía en una solicitud de préstamo. Ejemplos de activos tangibles incluyen edificios, vehículos o artículos de oficina.
Los activos fijos incluyen cualquier ítem que se compre para su negocio y se use para fines comerciales a largo plazo. Esto puede incluir equipos, edificios, maquinaria o herramientas.
An affiliate is a type of relationship between businesses in which one of the businesses owns some minority part of the other.
The Affordable Care Act, also known as the ACA or “Obamacare,” is a comprehensive healthcare reform law passed in 2010. The law has three primary goals:
Una afiliada es un tipo de relación entre empresas en el que una de las empresas posee una parte minoritaria de la otra.
Un alquiler comercial es un documento que describe el contrato de alquiler entre su empresa y la propiedad que se está alquilando (a menos que sea dueño de su propiedad). Antes de firmar un contrato de alquiler comercial, debe revisarlo cuidadosamente y, si puede, haga que lo revise un abogado o un experto legal. Los alquileres residenciales y comerciales son muy diferentes y, en general, las empresas no están protegidas por los alquileres de la manera en que lo están los inquilinos.
La amortización de deuda es la reducción gradual de la deuda durante un período específico de tiempo, a través de un calendario de amortización fijo. El pago debería ser suficiente para pagar el interés actual y eliminar el monto de la deuda al vencimiento. Los planes de amortización de deudas pueden ser una herramienta útil para ayudar a administrar sus préstamos y proyectar su cronograma de pagos.
Debt amortization is the gradual reduction of debt, over a specific period of time, via a fixed repayment schedule. The payment should be sufficient to pay current interest and to eliminate the debt amount at maturity. Debt amortization plans can be a useful tool to help manage your loans and project your payment schedule.
The annual percentage rate (or APR) is the amount of interest on your total loan amount. You pay the full APR annually (averaged out over the term of the loan). A lower APR translates to lower monthly payments. When calculating your monthly payments on a loan, be sure to include the interest amount.
A retirement savings option in which an individual pays money into an account administered by an insurance company in exchange for a guaranteed payment amount during retirement. In general, the concept of an annuity is similar to life insurance, except that an individual is able to receive payment while still alive. Annuities can grow tax-deferred, meaning investors pay no taxes on the earnings until they receive payments or make withdrawals.
Assets in a small business include anything that can be used to pay debts. "Liquid" or "tangible" assets can be quickly sold and converted to cash, or used as collateral in a loan application. Examples of tangible assets include buildings, vehicles, or office equipment.
Association health plans (AHPs) allow self-employed and small business owners to band together to purchase health insurance. Unlike ACA-compliant plans, they may charge different rates based on age, gender or location and they are not required to offer the same comprehensive benefits as ACA-compliant plans.
Financial assumptions and projections are a part of the business plan. Lenders and investors will review the research and calculations you make about projected profitability and your customer base. Be prepared to show how you made these calculations and assumptions.
Money your business is owed by another person or company that is considered "uncollectable," creating a bad debt. A debt becomes uncollectable when there is no longer any chance the amount owed will be paid. You must show tax agents and lenders that you have taken reasonable steps to collect the money, but were unable to do so. An example of a bad debt is if you loan money to a supplier or distributor for a business purpose, and they are unable to pay you back.
Your balance sheet is a financial document where you list your company's assets, liabilities, and net worth. The balance sheet will serve as a snapshot of your business' financial health.
In order to claim bankruptcy for your business, you must file with a federal district court and demonstrate that you cannot meet your debt obligations and require either reorganization of your business debts or liquidation of the business assets.
Los bienes afectados por la garantía se utilizan para proporcionar un recurso adicional de devolución del préstamo en el caso de incumplimiento de la devolución del préstamo. Activos tales como el inventario, los equipos y los edificios pueden ser comprometidos a favor del prestamista para respaldar la devolución de un préstamo.
You can secure a loan for your small business by accepting a blanket lien from a lender. A blanket lien gives lenders the right to seize almost all your business assets if you default on your small business loan. In the event of default, lenders can only take what is needed to settle your outstanding debt.
The break-even point is the time at which your business revenue will equal total expenses -- the point at which there is neither a profit nor loss. A breakeven analysis is used to determine when your business will be able to cover all your expenses.
Professional health insurance brokers provide expertise that can be helpful in finding a health insurance plan for your business and they can direct you to products offered by a range of companies. This is in contrast to a health insurance agent, who works with only one company and promotes that company’s products. If you do not use a broker, you will likely work with an agent at each company you contact.
Generally, every business needs some form of license or permit to operate legally. It's important to note that licensing and permit requirements vary depending on the type of business you have, where the business is located, and what government rules apply.
A business lease is a document that outlines the rental agreement between your business and the property you are renting (unless you own your property). Before signing a business lease, you should carefully review it, and if you can, have it reviewed by an attorney or legal expert. Residential and business leases are very different, and generally, businesses are not protected by leases the way residents are.
Your business plan is the comprehensive document that outlines everything about your business. The business plan is a living document, meaning that it should be reviewed and updated as your business output and needs change. Usually, the business plan projects your plans, projected debts and revenues, and growth for 3-5 years. The business plan will be required for most loan applications. Learn more about what you might need to collect for a loan application.
Cuando solicite un préstamo, el prestamista revisará sus estados financieros existentes y su solicitud para determinar si está calificado para recibir el préstamo. Al revisar sus ventas, proyecciones e investigaciones, el prestamista decide si usted podrá devolver el préstamo dentro del plazo establecido del mismo.
When you apply for a loan, the lender will review your existing financial statements and your application to determine if you are eligible for the loan. By reviewing your sales, projections, and research, the lender decides if you will be able to pay back the loan within the loan term.
Cash flow is the term that summarizes all of the cash that goes in and out of your business. Any lender will want to know what your cash flow is in order to determine your eligibility for a loan, or your capacity to repay.
En general, todas las empresas necesitan alguna forma de licencia o permiso para operar legalmente. Es importante tener en cuenta que los requisitos de licencia y permisos varían según el tipo de negocio que tenga, dónde se encuentra el negocio y qué reglas del gobierno se aplican.
Las 5 C de crédito son una forma práctica de recordar qué buscan los prestamistas cuando toman decisiones sobre préstamos.
Any loan for which funds have been disbursed and all required documentation has been executed, received and reviewed. For statistical purposes, first or total disbursement is counted as a closed loan.
The most active and expert lenders qualify for the SBA's streamlined lending programs. Under these programs, lenders are delegated partial or full authority to approve loans, which results in faster service from SBA. Certified lenders are those who have been heavily involved in regular SBA loan-guaranty processing and have met certain other criteria. They receive a partial delegation of authority and are given a three-day turnaround by the SBA on their applications (they may also use regular SBA loan processing).
Los prestamistas más activos y expertos están calificados para los programas de préstamos simplificados de la SBA. En el marco de estos programas, a los prestamistas se les delega autoridad parcial o total para aprobar préstamos, lo que resulta en un servicio más rápido por parte de la SBA. Los prestamistas certificados son aquellos que han estado muy involucrados en el procesamiento regular de la garantía de préstamo de la SBA y que han cumplido con ciertos criterios.
A federal law that may permit you to retain existing coverage if your employment ends, if you lose coverage through your spouse or other qualifying events. You are required to pay 100% of the premium for coverage as well as administrative fees. As an employer, you must comply with COBRA if you have more than 20 full- and part-time employees.
El programa de Certificado de Competencia (COC, por sus siglas en inglés) permite a una pequeña empresa apelar la determinación de un funcionario de contratación respecto de que no puede cumplir con los requisitos de un contrato gubernamental específico en el que aparentemente es el licitador más bajo. Cuando la pequeña empresa solicita un COC, los especialistas industriales y financieros de la SBA realizan una revisión detallada de las capacidades de la empresa para cumplir con el contrato.
The Certificate of Competency (COC) program allows a small business to appeal a contracting officer's determination that it is unable to fulfill the requirements of a specific government contract on which it is the apparent low bidder. When the small business applies for a COC, SBA industrial and financial specialists conduct a detailed review of the firm's capabilities to perform on the contract. If the business demonstrates the ability to perform, the SBA issues a COC to the contracting officer requiring the award of that specific contract to the small business.
In many health plans, patients must pay a portion of the services they receive. This payment is called “coinsurance” and is usually a small percentage of the service cost after the plan pays benefits. For example, if the plan pays 70% of the cost, the patient pays 30% of the cost. Coinsurance is common in PPO products and less common in HMOs.
A provision of the Affordable Care Act that prevents insurers from charging more based on an individual’s demographic characteristics like gender, age, pre-existing conditions or more.
The addition of interest to the principal sum of your retirement savings, or in other words, interest on interest. Compound interest rates grow faster than simple interest rates because they include all of the accumulated interest on your investments, allowing you to grow your wealth over time.
The Affordable Care Act mandated certain requirements to extend protections to healthcare consumers. These protections include preventing insurers from denying coverage to patients with pre-existing conditions, phasing out lifetime caps on coverage, allowing children to stay on their parents plan up to the age of 26 and mandating coverage on 10 essential health benefits like maternity and mental health coverage.
La contabilidad es el registro de las transacciones financieras. La contabilidad de su negocio incluye almacenar, ordenar, recuperar, resumir y presentar la información en varios informes y análisis. Los posibles prestamistas pueden solicitar un resumen de su contabilidad comercial como parte de su solicitud de préstamo. Obtenga más información sobre lo que podría necesitar para una solicitud de préstamo.
Un préstamo a corto plazo generalmente tiene una cláusula de reembolso de un año o menos.
This refers to how health plan costs are shared between employers and employees. Generally, costs are shared in two main ways: premium contributions, generally shared by the employer and employee, and cost sharing at the time of service, such as copayments, coinsurance and deductibles, generally paid by the employee.
A discount that lowers the amount you have to pay for deductibles, copayments and coinsurance. If you qualify, you must enroll in a plan in the Silver category to get the extra savings.
Los costos fijos en su negocio son los pagos regulares que realiza, que generalmente tienen el mismo valor en cada pago, independientemente de sus ventas. Estos costos fijos a veces se conocen como "gastos generales". Algunos ejemplos de costos fijos incluyen el alquiler, los servicios públicos e impuestos.
Los costos variables en su negocio están directamente relacionados con la venta de bienes y servicios. A diferencia de los costos fijos (como los gastos generales), los costos variables cambian con el tiempo. Los ejemplos de costos variables incluyen transporte, materias primas y mano de obra. A medida que las ventas aumentan, los costos variables aumentan.
Your personal credit score helps lenders calculate the risk associated with lending to you or your business. The credit score is determined by your debt and payment history on things like credit cards, mortgages, or other bills. Also known as a FICO score, credit scores can range from 300 (worst) to 850 (best). Things that can impact your credit score include bad personal payment history, little to no credit history, and high credit utilization (meaning you are using a high proportion of your available credit).
El crédito rotativo es un tipo de cuenta que le permite al prestatario extraer fondos según sea necesario. Las tarjetas de crédito se consideran una forma de crédito rotativo.
Cuentas por cobrar (AR, por su sigla en inglés) se refiere al dinero que los clientes y otras instituciones le deben a su negocio. Por lo general, las cuentas por cobrar se organizan mediante notas, estados de cuenta, facturas u otra evidencia escrita. Debe incluir sus cuentas por cobrar en su hoja de balance para mantener un registro de cómo fluye el dinero dentro y fuera de su negocio.
Cuentas por pagar (AP, por sus siglas en inglés) es un balance contable que detalla sus deudas con los acreedores. Las cuentas por pagar a veces se denominan "cuentas a pagar" y generalmente se refieren a bienes o servicios recibidos. Su lista de cuentas por pagar es una parte importante de su hoja de balance.
The amount a patient pays out-of-pocket for health services before the health insurance plan pays the remaining costs. Deductibles generally apply per person per calendar year.
If you do not pay the principal and/or interest on your loan by the due date in the loan terms, you will default. In the event of a loan default, the lender has the legal recourse to seize any collateral promised in the loan agreement. In the case of a blanket lien, the lender can go after your business assets if your loan becomes delinquent.
A type of employer-sponsored retirement plan in which the employer guarantees a fixed payment amount each year of retirement, typically based on the employee’s salary and length of time in the position. Pensions are the most common type of defined benefit plans, and are attractive to employees because retirement benefits are guaranteed and employers generally bear all the risk. However, use of these plans has declined significantly with the rise of new retirement options.
A type of retirement plan based on tax-deferred annual contributions to an investment account. Unlike with a defined benefit plan, the employee or contributor bears investment risk. A defined contribution plan can be employer-sponsored (also known as qualified or group trust plans) like a 401(k), or individual like an IRA.
Puede asegurar un préstamo para su pequeña empresa aceptando un derecho de retención amplio de un prestamista. El derecho de retención amplio otorga a los prestamistas el derecho a embargar casi todo los activos de su empresa si no paga su préstamo para pequeñas empresas. En el caso de incumplimiento, los prestamistas solo pueden tomar lo que sea necesario para cancelar el saldo de su deuda.
Otra persona o empresa le debe dinero a su empresa, que se considera "incobrable", y crea una deuda incobrable. Una deuda se convierte en incobrable cuando ya no hay posibilidad de que se pague el monto adeudado. Debe mostrar a los agentes tributarios y a los prestamistas que ha tomado medidas razonables para cobrar el dinero, pero que no pudo hacerlo. Un ejemplo de una deuda incobrable es si presta dinero a un proveedor o distribuidor por un motivo comercial y no pueden devolverle el dinero.
Insurers use an “employee census” to obtain specific information to estimate the healthcare costs your group is likely to incur. A census does not include health status, race, religion, sexual orientation (even if applying for domestic partner benefits), Social Security number, or U.S. citizenship/immigration status.
Many employers are required by the Fair Labor Standards Act (FLSA) to notify employees of coverage options available through the insurance marketplaces. These requirements generally apply to all employers with at least one employee. You can find sample disclosure notices, whether you offer insurance cover or not, on the Department of Labor’s website.
A federal law that governs many employee benefit plan aspects, including how employers must provide plan information to employees. ERISA also governs the claims and appeals procedures for qualified plans.
This is the amount of time an insured must wait before some or all of their coverage goes into effect. You may not receive benefits for claims filed during the waiting period. Waiting periods may also be known as elimination periods and qualifying periods.
The amount, usually a percentage, that an employer contributes to a retirement plan on behalf of an employee.
The Employee Retirement Income Security Act of 1974 (ERISA) is a federal law that sets minimum standards for most voluntarily established retirement plans and establishes protections for consumers, including standards about disclosing plan information and rules regarding fiduciary responsibilities for the plans.
The ACA requires that health insurance plans must cover at minimum the following categories of service: Ambulatory patient services, emergency services, hospitalization, pre and postnatal care, mental health, prescription drugs, rehabilitative and habilitative services and devices, laboratory services, preventive services and pediatric services.
Un estado de resultados (también conocido como estado de pérdidas y ganancias) registra los ingresos, gastos, ganancias y pérdidas totales. Este balance le muestra dónde se mueve el dinero dentro y fuera de su negocio. Con el tiempo, sus declaraciones de ingresos se pueden ser tomadas en conjunto para ayudarlo a pronosticar las ganancias y los gastos futuros.
El término "estándar de tamaño" describe la definición de una pequeña empresa. Un negocio se considera "pequeño" si cumple o está por debajo de un "estándar de tamaño" establecido. Verifique los términos del préstamo para asegurarse de que su negocio reúne los requisitos de una pequeña empresa.
Anyone who provides financial advice who is ethically obligated to do so in your best interest.
Puede pedir dinero prestado en función de su inventario actual. A medida que vende el inventario, usa sus ingresos para pagar el préstamo. Algunas compañías de financiamiento sobre inventario le proporcionarán dinero en efectivo por adelantado para comprar inventario.
The financial forecast is an account document, usually included in your business plan, that projects the revenues and expenses you expect over the next 1-5 years.
The 5 Cs of credit are a handy way to remember what lenders are looking for when they are making decisions about loans.
Fixed assets include any items that are purchased for your business and used for long-term business purposes. This can include equipment, buildings, machinery, or tools.
Fixed costs in your business are the regular payments you make that generally cost the same for each payment, regardless of your sales. These fixed costs are sometimes referred to as "overhead." Examples of fixed costs include rent, utilities, and taxes.
A special account you put money into to use to pay for certain out-of-pocket healthcare costs. You don’t pay taxes on this money, which means you’ll save an amount equal to the taxes you would have paid on the money you set aside.
El flujo de efectivo es el término que resume todo el dinero que entra y sale de su negocio. Cualquier prestamista querrá saber cuál es su flujo de efectivo para determinar su elegibilidad para un préstamo, o su capacidad para devolverlo.
Si alguien acepta ser garante de su préstamo, esa persona será responsable de todos (garantía ilimitada) o parte (garantía limitada) de los pagos de su préstamo si usted no cumple.
Group medical coverage refers to a single policy issued to a group (typically a business with employees, although there are other kinds of groups that can get coverage) that covers all eligible employees and sometimes their dependents.
Under the Affordable Care Act, individuals and small employers are guaranteed coverage should they choose to purchase it, regardless of an employee’s health status, age, gender or other factors. Guaranteed issue does not limit the amount an insurer can charge you for enrolling, but prevents an individual from being denied the right to purchase insurance.
Under the ACA, states may set up online marketplaces (also called health insurance exchanges) that allow individuals and small businesses to pool their buying power and purchase health insurance. Some states have set up their own marketplaces, while other states operate under the federal marketplace at Healthcare.gov.
A federal law that allows employees to obtain health insurance when they lose their group health insurance or change their job, even if they have a preexisting health condition. If an employee qualifies, that person cannot be denied insurance because of their medical history.
A type of health insurance plan that usually limits coverage to care from doctors who work for or contract with the HMO. It generally won't cover out-of-network care except in an emergency. An HMO may require you to live or work in its service area to be eligible for coverage. HMOs often provide integrated care and focus on prevention and wellness.
Also known as health reimbursement accounts, HRAs permit businesses to offer pre-tax dollars to employees to help pay premiums and/or other out-of-pocket costs associated with medical care and services up to a maximum dollar amount for a coverage period. While an HRA may be offered with other employer-provided health plans, employees need not be covered under any other healthcare plan to participate. Employers own and fund the account for employees, and unused amounts may roll over to the next year.
These savings accounts are typically combined with a high-deductible health plan that allows users to put aside pre-taxed money. Because high-deductible plans generally cost less than low-deductible plans, HSAs are a good option for employers who cannot afford a comprehensive (low-deductible) health plan.
The IRS defines a HDHP as any plan with a deductible of at least $1,350 for an individual or $2,700 for a family. An HDHP’s total yearly out-of-pocket expenses can’t be more than $6,650 for an individual or $13,300 for a family.
Your investment portfolio is tailored to your specific needs, High-risk portfolios tend to be looking for large and fast pay-out. This could mean investing start-ups, hedge funds or crypto currency while low-risk portfolios are more likely to succeed but at a slower rate such as treasury securities.money market accounts and lending clubs.
Su balance es un documento financiero en el que se detallan los activos, pasivos, y el valor neto de su empresa. El balance general servirá como una instantánea de la salud financiera de su negocio.
In-network providers contract with your health insurance company plan to negotiate set payment amounts. This means your copayments for in-network providers are typically lower than to out-of-network providers.
An income statement (also known as a 'profit and loss' statement) tallies the total revenue, expenses, gains, and losses. This statement shows you where money is moving in and out of your business. Over time, your income statements can be taken together to help you forecast future earnings and spending.
Si no paga el capital y/o los intereses de su préstamo en la fecha establecida en los términos del préstamo, usted estará en mora. En caso de mora en el préstamo, el prestamista tiene el recurso legal de embargar cualquier bien afectado por la garantía comprometidos en el acuerdo de préstamo.
Individual coverage refers to healthcare coverage that is not tied to employer-based coverage, whether purchased for an individual or a family. This can refer to coverage purchased through Healthcare.gov or an individual state marketplace.
Accounts set up at a financial institution that allow an individual to save for retirement with tax-free growth or on a tax-deferred basis. There are two types of IRAs: Roth and Traditional.
Inflation refers to a general increase in prices and a decrease in the purchasing value of money. Inflation has a greater impact once you are retired and can't adjust your savings to accommodate the rising costs.
La insolvencia es la incapacidad de un prestatario para cumplir obligaciones financieras con el prestamista a medida que los pagos vencen. La insolvencia podrá dar lugar a acciones legales y es posible que se deban liquidar los activos para pagar deudas. Los derechos del prestamista en los procedimientos de insolvencia se incluyen en la documentación del préstamo original.
Insolvency is the inability of a borrower to meet financial obligations with the lender(s) as payments become due. Insolvency may result in legal actions and assets may be liquidated to pay debts. The lender's rights in insolvency proceedings are included in the documentation of the original loan.
In an installment loan, the interest amount is included in the principal loan amount, and the borrower repays the debt periodically.
An interest rate is the percentage of money paid by the borrower to use the money provided by a the lender. Normally, loan interest is expressed in APR, which is the interest rate compounded monthly.
Mercancía que se compra y/o produce y almacena para su eventual venta.
Merchandise that is purchased and/or produced and stored for eventual sale
You can borrow money based on your existing inventory. As you sell the inventory, you use your revenue to pay the loan. Some inventory financing companies will provide you with cash up front to purchase inventory.
Your liabilities include any debts you owe, including loan debt.
Prior to the passage of the ACA, insurance providers could impose a limit on the total amount of benefits you could receive throughout your lifetime. For example, the lifetime cap could be set at $1 million, and if an insurer reached that amount of spending on your health coverage, they could stop paying for your coverage. ACA-compliant plans are prohibited from imposing lifetime caps, but non-ACA compliant plans may not provide this protection.
The total amount of money, including interest, that you need to pay your lender by the end of your payment period is the loan payoff amount.
Under managed care plans such as HMOs and PPOs, the insurer or health plan pays doctors or hospitals directly for some or all of the cost of the medical services its members receive. For example, physicians may be paid a fixed annual per-member (“capitation”) rate, regardless of how many times the covered individual visits the physician.
A government-sponsored, or public, health insurance program that provides comprehensive publicly funded health insurance coverage to low-income residents who meet specific eligibility criteria. This generally includes those falling below certain income guidelines, or those with disabilities, children, expectant mothers and other individuals with specific healthcare needs.
The Affordable Care Act provided federal funding to expand Medicaid eligibility to those with incomes up to 138% of the federal poverty level (FPL). While the Supreme Court ruled that states could opt out of this Medicaid expansion, as of May 2019, 37 states (including Washington, D.C.) have expanded Medicaid.
Refers to a provision of the ACA that requires insurers to spend a specific amount of premium dollars on actual care or activities that improve quality for consumers. For example, a MLR of 80% indicates that every 80 cents per premium $1 is spent on customers’ claims, while the remaining 20 cents can be used on administrative costs. The ACA-set MLRs vary by region, and some states have set additional limits.
A government-sponsored/public health insurance program for adults who are 65 years or older.
La cantidad total de dinero, incluidos los intereses, que debe pagar a su prestamista al final del período de pago es el monto de cancelación del préstamo.
An investment program funded by shareholders that trades in diversified holdings and is professionally managed.
If the total debt you owe exceeds your business profits, your business is considered to have negative net worth.
Your business' net worth, or equity, is equal to all assets minus all liabilities (including debts and obligations).
Su empresa tiene obligaciones con los prestamistas y otras compañías o individuos en forma de pedidos realizados, servicios recibidos u otras transacciones. Cualquier dinero, mercadería o servicio que se deba a otra persona es una obligación.
Your business has obligations to lenders and other companies or individuals in the form of orders placed, services received, or other transactions. Any money, merchandise, or service owed to someone else is an obligation.
Every year, employees have the option to change their medical coverage during the annual “open enrollment” period. Open enrollment for small employers usually is the month prior to renewal date of the policy and lasts about one or two weeks. During this time employees receive plan materials, have a chance to ask questions about plan choices and enroll in a plan. They may add or drop dependents, choose a different medical plan or sign up for new plan offerings, such as an optional chiropractic plan or dental plan.
Your out-of-pocket maximum is a limit on the total amount you pay for healthcare in a given year. Once you have spent this amount on all coverage, including deductible, copayments and coinsurance but excluding your monthly premium, your health insurer will pay 100% of your remaining healthcare costs for the coverage year.
Sus pasivos incluyen todas sus deudas, incluida la deuda del préstamo.
Algunos prestamistas cobran una tarifa si paga más de lo acordado en los términos de su préstamo. Esto generalmente se hace para proteger al prestamista y garantizar que reciba el pago completo del préstamo y el interés a lo largo del tiempo.
A type of defined contribution plan in which you receive a set dollar amount upon retirement, typically based on your last few years of earnings.
Su plan de negocios es el documento completo que describe todo sobre su empresa. El plan de negocios es un documento vivo, lo que significa que debe revisarse y actualizarse a medida que cambian los resultados y necesidades de su negocio. Por lo general, el plan de negocios proyecta sus planes, deudas e ingresos proyectados, y el crecimiento a 3-5 años. El plan de negocios se requerirá en la mayoría de las solicitudes de préstamos. Obtenga más información sobre lo que podría necesitar para una solicitud de préstamo.
A type of healthcare plan that offers cheaper service if you use doctors, hospitals and other providers in-network for your insurance plan. These plans typically require you to receive a referral from your primary care provider to see specialists, making them more flexible than an HMO plan but less flexible than a PPO.
By dividing your assets into categories of investment (ie. stocks, bonds, cash, etc.) you can reduce the risks that are traditionally associated with investing.
A health problem, like asthma, diabetes, or cancer, you had before the date that new health coverage starts. Under the ACA, insurance companies can't refuse to cover treatment for your pre-existing condition or charge you more. Note: Plans that are not compliant with the ACA may still charge more for those with pre-existing conditions.
A type of health plan that contracts with medical providers to create a network of participating providers. You pay less if you use providers that belong to the plan’s network. Typically PPOs goffer a wider choice of providers than HMOs. Premiums may be similar to or slightly higher than HMOs, and out-of-pocket costs are generally higher and more complicated than those for HMOs.
The total amount that must be paid in advance in order obtain coverage for a particular level of services. Usually health insurance premiums are billed and paid on a monthly basis.
A tax credit you can use to lower your monthly insurance payment, or premium, when you enroll in a plan through the health insurance marketplaces. The tax credit is based on your income estimate and household information provided in your health insurance application. If your estimated income falls between 100% and 400% of the federal poverty level for your household size, you qualify for a premium tax credit.
Some lenders charge a fee if you pay more than is agreed upon in your loan repayment terms. This is typically done to protect the lender and ensure that they receive the full loan payment and interest over time.
Cualquier préstamo cuyos fondos se hayan desembolsado y toda la documentación requerida se haya firmado, recibido y revisado. Para fines estadísticos, el desembolso inicial o total se cuenta como un préstamo cerrado.
En un préstamo en cuotas, el monto del interés está incluido en el monto de capital del préstamo, y el prestatario paga la deuda periódicamente.
La Administración de Pequeñas Empresas (SBA) no hace préstamos ella misma. En cambio, garantiza los préstamos ofrecidos a las pequeñas empresas por los bancos y otras instituciones de crédito. Conozca más acerca de la SBA y los Préstamos SBA.
El crédito asegurado se refiere a los préstamos para los que su empresa puede estar calificada si compromete bienes afectados a la garantía, tales como equipo o bienes inmuebles. Si incumple con un préstamo garantizado, el prestamista puede embargar la garantía y otros bienes para devolver cualquier parte del préstamo que no se haya pagado.
Los préstamos no garantizados generalmente no requieren afectar bienes a las garantías. Debido a que estos préstamos no están "garantizados" por bienes afectados a dicha garantía, generalmente son más caros y, por lo general, solo están disponibles para los prestatarios con puntajes crediticios altos.
Customers with high credit ratings may be qualified to receive the best, or prime, interest rate on loans from banks and other lenders.
A type of employer-sponsored defined contribution plan that allows an employer to make contributions to an employee’s account from a company’s annual profits, although an employer is not required to make contributions in any given year.
El pronóstico financiero es un documento de contabilidad, generalmente incluido en su plan de negocios, que proyecta los ingresos y los gastos que espera durante los próximos 1 a 5 años.
La propiedad es la forma legal más común de propiedad comercial. En una propiedad, el propietario del negocio es responsable de todos pasivos y obligaciones.
Proprietorship is the most common legal form of business ownership. In a proprietorship, the business owner is responsible for all liabilities and obligations.
Su puntaje crediticio personal ayuda a los prestamistas a calcular el riesgo asociado con los préstamos para usted o su empresa. El puntaje crediticio está determinado por sus antecedentes de deudas y pagos en cuestiones tales como tarjetas de crédito, hipotecas u otras facturas. También conocido como puntaje FICO, los puntajes de crédito pueden variar entre 300 (el peor) y 850 (el mejor).
El punto de equilibrio es el momento en que los ingresos de su negocio igualarán los gastos totales, el punto en el que no hay ganancias ni pérdidas. Un análisis de punto de equilibrio se usa para determinar cuándo su empresa podrá cubrir todos sus gastos.
Para reclamar la quiebra de su negocio, debe presentarse ante un tribunal federal de distrito y demostrar que no puede cumplir con sus obligaciones de deuda y requerir la reorganización de sus deudas comerciales o la liquidación de los activos del emprendimiento.
The amount of income you will receive from qualified retirement plans, or the amount that you think you need annually to live on.
Revolving credit is a type of account that allows the borrower to draw funds as needed. Credit cards are considered a form of revolving credit.
The process of moving one retirement account to another. Usually account rollovers need to be handled in a certain way to avoid taxes and/or penalties.
A type of individual retirement account in which your contributions are taxed, but your withdrawals are tax-free.
Secured credit refers to loans your business can qualify for by promising collateral, like equipment or real estate. If you default on a secured loan, the collateral and other property can be seized by the lender to satisfy any part of the loan that has not been paid. Loans can also be secured by the lenders putting a blanket lien on your business.
A Simplified Employee Pension (SEP) plan provides business owners with a simplified method to contribute toward their employees’ retirement, as well as their own retirement savings.
Businesses with 50 or more employees are required to offer their employees health insurance or pay a penalty.
A short term loan typically has a repayment stipulation of one year or less.
Also known as “junk insurance,” short-term plans are meant to fill a gap in an individual’s coverage due to an unexpected occurrence such as a gap in employment. Short-term plans typically have high deductibles, exclude coverage for people with pre-existing conditions and are not required to cover essential benefits like prescriptions or preventive services such as cancer screenings.
SIMPLE stands for Savings Incentive Match Plan for Employees. Perhaps the best way to describe the SIMPLE IRA plan is as the little brother of the more robust but more costly 401(k) plan. Much like the traditional 401(k) plan, the SIMPLE IRA Plan allows for both employer contributions as well as employee salary deferral contributions.
The term "size standard" describes the definition of a small business. A business is considered "small" if it meets or is below an established "size standard." Check loan terms to make sure that your business qualifies as a small business.
SHOP was a marketplace created under the ACA to serve as a place for small businesses with fewer than 50 to browse for health coverage and find a broker or agent to purchase insurance.
The ACA established a tax credit for small businesses to help offset the cost of offering health insurance. To qualify for a tax credit, small business owners must pay at least half of employees’ healthcare premiums and have 25 or fewer full-time equivalent employees who earn an average of $50,000 or less per year.
Generally refers to the insurance marketplace for employers with fewer than 50 employees seeking group coverage. While employers with fewer than 50 full-time employees are not required to provide group insurance, group plans are offered in most states to businesses of this size. These employers can use the SHOP website to find a broker or agent in their area to help navigate their insurance options.
A national benefit program funded by tax dollars to ensure economic security for those who can no longer work because of their age or a disability. Those who qualify for Social Security benefits receive monthly stipends based on their reported income.
A version of a 401(k) available to solo-entrepreneurs that allows you to contribute to the plan using both your personal and business income, without subjecting your company to the requirements of ERISA. This plan is only available to small business owners with no employees other than themselves and their spouse.
Una empresa se considera solvente si tiene las capacidades financieras adecuadas para cumplir con cualquier obligación o responsabilidad y continúa equilibrada u obteniendo ganancias.
A business is considered solvent if it has the appropriate financial abilities to meet any obligations or liabilities and continue to break even or make profit.
A special enrollment period (SEP) allows you to potentially enroll in coverage outside of the open enrollment window if you miss the general open enrollment period due to losing health coverage, moving, getting married, having a baby, adopting a child, etc. Visit Healthcare.gov to learn more about SEPs and check if you qualify.
Los supuestos y proyecciones financieras son parte del plan de negocios. Los prestamistas e inversores revisarán la investigación y los cálculos que usted haga sobre la rentabilidad proyectada y su base de clientes. Esté preparado para mostrar cómo hizo estos cálculos y suposiciones.
La tasa de interés es el porcentaje de dinero pagado por el prestatario para usar el dinero proporcionado por el prestamista. Normalmente, el interés del préstamo se expresa en la Tasa de Porcentaje Anual (APR), que es la tasa de interés compuesto mensualmente.
Los clientes con altas calificaciones crediticias podrán estar calificados para recibir la mejor tasa de interés, o prima, en préstamos de bancos y de otros prestamistas.
La tasa de porcentaje anual (o APR) es la cantidad de intereses en el monto total de su préstamo. Usted paga la APR completa anualmente (promediada respecto del plazo del préstamo). Una APR más baja se traduce en pagos mensuales más bajos. Al calcular los pagos mensuales de su préstamo, asegúrese de incluir el monto del interés.
Allows you to contribute to retirement savings without paying income taxes on the funds used to contribute to your retirement investment account. For example, contributions to traditional IRAs are made from current income before you have paid income tax, reducing your current taxable income.
Refers to investment growth that is not subject to taxes immediately, but is taxed at a later date when you withdrawal or use funds.
A type of individual retirement account in which your contributions are tax-free, and you are taxed on withdrawals.
Turnover is the number of times that an average inventory of goods is sold during a fiscal year, or some other designated time period. You may need to calculate turnover as part of your preparation for loan applications. Learn more about what you might need to collect for a loan application.
Unsecured loans typically don't require collateral. Because these loans are not "secured" by collateral, they are usually more expensive and are usually only available to borrowers with high credit scores.
El valor neto de su negocio, o patrimonio, es igual a todos los activos menos todos los pasivos (incluidas las deudas y las obligaciones).
Si la deuda total que usted tiene excede las ganancias de su negocio, se considera que su negocio tiene un valor neto negativo.
Variable costs in your business are directly related to the sale of goods and services. Unlike fixed costs (like overhead), variable costs change over time. Examples of variable costs include shipping, raw materials, and labor. As sales increase, variable costs increase.
El volumen de negocios es la cantidad de veces que un inventario promedio de bienes se vende durante un año fiscal u otro período de tiempo designado. Es posible que deba calcular el volumen de negocios como parte de su preparación para las solicitudes de préstamos. Obtenga más información sobre lo que podría necesitar para una solicitud de préstamo.
