Financial tools & management
You’ve got the business plan down, but you need some help managing your finances and cash flow. Accounting, taxes, payroll—you deal with enough numbers every month to make your head spin. But you don’t have to tackle the numbers alone. These resources can help you keep your business in good financial health.
Build your creditworthiness: Rethink credit inquiries
Whenever a company or individual accesses your personal credit reports or scores, the credit reporting agency that fulfilled that request must, by law, record that “inquiry” on your credit report. Because certain inquiries have been found to be associated with greater credit risk, they may affect your credit scores. In other words, recent inquiries on your credit reports can cause your credit scores to drop.
Small Business Borrowers' Bill of Rights
You have a right to see the cost and terms of any financing you are offered in writing and in a form that is clear, complete, and easy to compare with other options so that you can make the best decision for your business.
Why have a mentor
One of the best ways to help yourself, and your business, is to get a business mentor, someone who has been there and done that to be your support.
Tips for writing a business plan
You’re working on your business plan, great! Here are a few tips as you work.
Understanding the 5 Cs of credit
Your credit score is an important part of your loan application that’s impacted by five main factors, commonly known as the 5 Cs of credit. Lenders will often use these factors to determine and assess your creditworthiness. The higher you score on each of these factors, the higher your overall credit score will be.
Why you should separate your personal & business finances
As you navigate business financing, it may be tempting to use your personal finances to help out when your business needs a boost, but that is not always the best solution in the long run. Separating your personal and business finances can help ensure you treat your business like the independent entity it is, while safeguarding your personal finances.