Day: June 2, 2020

Top 2 Bedford News Websites To Follow in 2020 (City in Texas)

Top 2 Bedford News Websites
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Bedford News Websites



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1. Bedford BubbleLife

Bedford, Texas, United States About Website Bedford BubbleLife is a digital newspaper, bringing together all of the local news, information and events in Bedford, Texas. Frequency 2 posts / day Website bedford.bubblelife.com
Facebook fans 31 ⋅ Twitter followers 760 ⋅ Domain Authority 45 ⋅ Alexa Rank 158.1K View Latest Posts Get Email Contact

2. City of Bedford | News

City of Bedford | News Bedford, Texas, United States About Website Bedford is a quality residential community balanced with an environment for planned economic vitality. Follow this feed to read the latest news, updates and information from the official website of Bedford, TX. Frequency 2 posts / week Website bedfordtx.gov/CivicAlerts.aspx
Facebook fans 9.4K ⋅ Twitter followers 2.4K ⋅ Domain Authority 39 ⋅ Alexa Rank 1.4M View Latest Posts Get Email Contact

The post Top 2 Bedford News Websites To Follow in 2020 (City in Texas) appeared first on Feedspot Blog.

Top 2 Niagara Falls News Websites To Follow in 2020 (City in New York)

Top 2 Niagara Falls News Websites
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Niagara Falls News Websites



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1. Niagara Gazette | News

Niagara Falls, New York, United States About Website From inception in 1854, the Niagara Falls Gazette has been the record of local news and events in and around Niagara Falls. Frequency 1 post / day Website niagara-gazette.com/news
Facebook fans 21.1K ⋅ Twitter followers 6.6K ⋅ Instagram Followers 1.6K ⋅ Social Engagement 5 ⋅ Domain Authority 63 ⋅ Alexa Rank 300.8K View Latest Posts Get Email Contact

2. The Niagara Reporter

The Niagara Reporter Niagara Falls, New York, United States About Website The Niagara Reporter is a newspaper publication that has served Niagara & Erie County since 2000. Follow the website to get the latest local news, stories and updates in Niagara Falls, NY. Frequency 1 post / week Website niagarafallsreporter.com
Facebook fans 11.7K ⋅ Twitter followers 1.3K ⋅ Social Engagement 75 ⋅ Domain Authority 55 ⋅ Alexa Rank 849.9K View Latest Posts Get Email Contact

The post Top 2 Niagara Falls News Websites To Follow in 2020 (City in New York) appeared first on Feedspot Blog.

A Business Loan for Every Situation

Are you a startup? Do you have a temporary cash shortage you need to cover?  Is your credit not so great, or do you need cash to purchase in bulk? Whatever is going on rest assured, there is pretty much a business loan for every situation. Yes, you can even get a business loan now. Pandemic or no pandemic, you can get business money.

Sometimes a Business Loan Is Not What You Need

Even if, somehow, there isn’t a business loan in the traditional sense to help, there are still options.  Sometimes, a traditional business loan isn’t even the right answer. Something else might actually be better. 

Going on the assumption that most folks understand what a standard term loan from a traditional lender is, we are going to discuss alternatives to this solution.  After all, if you don’t know what’s out there, you’ll never know what might work best for you.

Business Loans and Other Options for Startup

When it comes to starting a business, you can get a business loan if you qualify.  There are other options too though.

Check out our best webinar with its trustworthy list of seven vendors to help you build business credit.

Investors

You probably know what investors are.  Finding traditional investors for your business involves a number of things.  First, you have to find investors with deep enough pockets that are willing to hear your pitch.  Then, you have to actually create a pitch, and hope they like it.  

Then there are angel investors.  They work a little differently.  Angels are usually more informal than other investors. They can be people you know. They can be people you connect with through networking or other means. Even your mom can be an angel investor.

Crowdfunding

While the average person that wants to start a business needs funding, it is not always possible to find one or two large investors. With crowdfunding, you can access a lot of investors to fund your business $5 and $10 at the time. 

There are many crowdfunding sites.  Still, the most popular are Kickstarter and Indiegogo. They are similar to each other.  However, there are some major differences as well. The most obvious is the timing of when you get the money that others give your company.

Kickstarter requires you to set a goal first.  You do not receive your funds until you reach your goal. For example, if you set a goal of $5,000 when you start your campaign, you will not receive any money that investors offer up until you reach that $5,000. 

Indiegogo requires a goal as well.  However, they offer the option to receive funds as you go. In addition, they have an option called InDemand. This program lets you keep raising funds even after your original campaign is over.  That means you do not have to start a whole new campaign. It’s more like an extension. 

There are other crowdfunding sites out there also. Different ones work better for certain businesses and vendors. To figure out which one might work best for your needs, you’ll have to do some research. Keep in mind your type of business and the specific business each one appeals too. 

Crowdfunding is a good starting point for a new business.  Yet, don’t put all your eggs in this basket. You need a backup plan.  Only a small percentage of campaigns are successful.  Furthermore, take into account the state of the economy before you rely too heavily on crowdfunding.  If it isn’t strong, people will not be as likely to invest. 

Business Loans and Other Options for Getting Back on Your Feet

If you are struggling for a season to keep things going, these options could help.  Remember though, none of them are a permanent solution. To be successful your business has to eventually support itself.  Be sure to use the time these funds may buy you to figure out the problem and how to fix it. 

Non-Traditional Business Loans

These are business loans from companies other than banks.  Typically, they are referred to as private lenders or alternative lenders.  A lot of them have popped up in the past decade as starting your own business has become more popular.  A need for financing options from somewhere other than traditional banks has encouraged this growth. 

There are a few benefits to using private business loans over traditional loans.  The first is that they often have more flexible credit score minimums.  Even though they still rely on your personal credit, they will usually accept a score much lower than what traditional lenders require. Another benefit is that they will sometimes report to the business credit reporting agencies.  As a result, they can help build or improve business credit if you pay them responsibly. 

The tradeoff is that private business loans tend to have higher interest rates and less favorable terms.  However, the ability to get funding and the potential increase in business credit score can make it well worth it. 

Business Credit Cards

Credit cards often get a bad rap all around.  It’s no wonder. If you are irresponsible, they can cause a lot of problems.  However, if you handle them properly, they can be an amazing business tool. The thing is, using them to get back on your feet does propose a new set of potential issues.  Since most of them come with fairly high interest rates, you need to be especially diligent to find and solve the issues that cause you to need this additional funding. 

Grants

While there are not a lot out there, grants are probably more common that you think. Usually, these are offered by professional organizations. There are some government grants available as well. Competition can be tough, but they are definitely worth trying for if you think you may qualify. 

Requirements vary from grant to grant.  Most are only awarded to a certain number of recipients.  If you fit into one of these basic categories however, they are worth considering. 

  • Businesses in low income areas

There are also some corporations that offer grants in the form of contests.   These usually don’t require much other than that you meet the corporation’s definition of a small business and win the contest. For example, FedEx offers such a context each year. 

Check out our best webinar with its trustworthy list of seven vendors to help you build business credit

Business Loans and Other Options for Bridging Cash Gaps

Sometimes you aren’t really down on your luck.  You may just have a cash gap that is obviously temporary. Seasonal businesses see this on a regular basis. Another situation that may cause this is that you have some large invoices that just do not get pain fast enough.  These things can easily be handled with some of the following tools. 

Lines of Credit

The most basic definition of a line of credit is that it is a revolving line of credit, similar to a credit card. You have a limit, but you have access to funds at all times.  You only make payments on the portion you use each month. 

For example, if you have a $10,000 line of credit, you can use however much of those funds you need each month for whatever you want.  That is, unless your lender issues some sort of restriction. Access is most typically granted through checks or a card connected to the line of credit account.

Invoice Factoring

If you are an established business with accounts receivable, invoice factoring is one of the available business funding types that you have access to. This is where the lender buys your outstanding invoices at a premium, and then collects the full amount themselves. You get cash without waiting for your customers to pay the invoices.

This is a good option if you need cash fast.  It’s also good if you don’t qualify for other available funding types. The interest rate varies based on the age of the receivables.

Merchant Cash Advance

If you accept credit cards, you may be able to get a merchant cash advance.  This is similar to invoice factoring, but instead of buying your open invoices, the lender advances cash based on average expected credit card sales.  

Business Credit Cards

Credit cards can help in this instance as well, and they work a lot better here.  In the case of a temporary cash gap, you know the money is coming. Using credit to cover a gap temporarily, and maybe collecting some rewards while you do so, isn’t terrible.  This is also useful in the discount inventory situation. If you can get a great deal on bulk inventory, you can use a credit card to take advantage and buy at the lower cost. In theory, when you sell this lower cost inventory, you will actually increase your profit.

Open the Door to Any Type of Business Loan and Other Options by Building Great Fundability

Fundability is the ability of your business to get the funding it needs.  Highly fundable businesses are able to get business loans quickly and easily.  The thing is, few businesses start out fundable. There are many, many factors that affect the fundability of a business.  This includes details ranging from something as simple as your business address to things as complicated as liens on your personal record from years ago.  

Each and every aspect of fundability is important, and you need to know where you stand with each one.  However, one specific piece of the fundability puzzle that is often neglected is business credit. This neglect typically stems from the fact that so few business owners really understand what it is. Many are under the belief that business credit is just debt that is in the business name.  That isn’t really the case however. 

About Business Credit

Credit cards and loans with your business name on them are still going on your personal credit report unless you take some very specific steps to build separate business credit.  First, you have to set up your business to be a separate entity from yourself. Coincidently, this setup process is also what needs to happen to begin building strong business fundability.

Check out our best webinar with its trustworthy list of seven vendors to help you build business credit

Set Up Your Business to Be Fundable

To set up your business to be fundable you need to ensure you have the following: 

  • Separate contact information including phone number, address, and email
  • EIN
  • D-U-N-S number
  • Separate bank account
  • Business Website

In addition, you absolutely have to incorporate.  You can choose to be an LLC, S-corp, or corporation, but you must choose one.  Any of them work when it comes to separating business from owner, so talk to your attorney or tax specialist about which option will work best for your business’s other needs. 

How to Build Business Credit to Strengthen Fundability

Once you are all set up, you can start to get accounts reporting to your business credit report. You can ask vendors that you already work with if they will extend credit and report payments.  They don’t have to, but they might.  

You can also ask those companies you already pay monthly, like utilities and rent, to report your payments.  Again, they do not have to, but they may.

Another secret to getting accounts reporting is to work with starter vendors. These are certain vendors that will extend net invoices without a credit check, and then report your payments to the business credit reporting agencies. When you get enough of these reporting, your score will be strong enough to apply for store cards like those offered by Best Buy or Office Depot.  

After you get enough of those store cards and make on time payments, you’ll be able to get fleet cards like those offered by Shell and Fuelman.  After more of those cards are reporting on-time payments, you should be able to get approval for any business cards out there. For example, those standard credit cards that are not tied to where or what you purchase will be an option.  These are the credit cards that can really help bridge a cash gap or, as a last resort, help you get back on your feet.Biz Loan Credit Suite

Get a Business Loan – Conclusion

Getting a business loan doesn’t have to be hard.  There are options to cover any situation that may come up.  The problem is being eligible for the loans that best fit your needs.  You need to be aware of non-financing options and which situations they are best suited for as well.  Then, if your work to build business credit makes your fundability stronger, you can be sure that eventually you will be able to get funding to fit any situation that may come up.

The post A Business Loan for Every Situation appeared first on Credit Suite.

Prosper and Economic Downturns

Prosper can be a decent choice even now, during the COVID-19 situation. Economic downturns are difficult – but you can get through them with financing from a peer to peer lender like Prosper.

A Prosper Bank Review for Economic Downturns

This online lender is one of several online lending companies out there. In our Prosper loans reviews, we look at just what sets this online lender apart from the others. It’s important to make your best decision during economic downturns.

They offer personal loans for business use. However, it seems as if applications for business loans always went to their partner, OnDeck (https://www.ondeck.com/), regardless of personal credit rating or amount of credit requested. We look at the specifics and drill down into the details with respect to this company.

Recession Period Financing

The number of American financial institutions as well as thrifts has been decreasing progressively for a quarter of a century. This is coming from consolidation in the marketplace in addition to deregulation in the 1990s, minimizing barriers to interstate banking. See: https://www.fundera.com/blog/happened-americas-small-businesses-financial-crisis-six-years-start-crisis-look-back-10-charts 

Assets concentrated in everlarger financial institutions is problematic for local business proprietors. Big banks are a lot less likely to make small loans. Economic slumps imply banks end up being much more cautious with lending. Luckily, business credit does not count on financial institutions.

Background

The company is located online here. Their physical address is:

Prosper Funding LLC
221 Main Street, Suite 300
San Francisco, CA 94105.

You can call them at: (866) 615-6319. Get in touch with them via their contact page.

Code of Ethics and Business Conduct

They abide by a Code of Ethics and Business Conduct

The main thrust of the Code is to support standard disclosures of conflicts of interests.

Employees have restricted access to company loans, in order to make it harder to exploit inside information. This is somewhat similar to the SEC’s insider trading rules for publicly traded corporations.

The Code also means their employees cannot accept substantial gifts.

However, this may be to deter overly enthusiastic but well-meaning clients who have a hard time taking no for an answer. With the Code, the company can be the ‘bad guy’.

The Code also specifically protects whistle blowers in case an employee witnesses and reports wrongdoing to management.

Prosper Personal Loans for Business Use During Economic Downturns

From $2,000 – 35,000 is available but be sure to do your own Prosper personal loans review. They will check your personal credit score. But there is no information on a Prosper loan minimum credit score. Rates are “low” yet otherwise unspecified. For a Prosper personal loan, the company offers a fixed term of 3 or 5 years. You have a single monthly payment. There is no information on Prosper personal loan rates.  So beware during economic downturns.

The Prosper Credit Score

Per their prospectus, the company calculates a score for borrowers, “… calculated using the historical performance of previous Borrower Loans with similar characteristics”. The score is based on data from Experian.

The Score predicts the probability of a loan going “bad”, e. g. going more than 60 days past due within twelve months of the application date. The score works as the foundation of Prosper lending requirements. There’s no proof whether it changes during economic downturns.

Risk Modeling

To calculate the company credit score, the company developed a custom risk model by using their historical data in addition to a data archive from a consumer credit bureau. They use this Prosper loan calculator to determine if you’re a good credit risk for them.

They built the model based upon a population of users who applied for a Borrower Loan. This was so that their model would incorporate behavior which is unique to that population.

A Prosper loans credit score is in contrast to a credit score from a credit reporting agency. That is based on a much broader population.

However, borrowers from this lender are only a small subset of those under consideration when developing a standard consumer credit score. The company then uses both the Prosper loan credit score and a borrower’s credit score to best gauge the level of risk. Their Prosper loan application will, of course, be under review.

Fees

There are no hidden fees or prepayment penalties. There shouldn’t be any difference during economic downturns.

Advantages

Advantages include fixed terms and no hidden fees. They say there is no Prosper origination fee. This should not change during economic downturns.

Disadvantages

Disadvantages include an unspecified interest rate. Also, they will perform an inquiry on your personal credit. Are you wondering, “is Prosper loan safe?” The answer is: maybe. In particular, during economic downturns, you need to be careful.

An Alternative During Economic Downturns: Building Business Credit

Small business credit is credit in a small business’s name. It doesn’t connect to an owner’s consumer credit, not even if the owner is a sole proprietor and the only employee of the small business. 

Therefore, a business owner’s business and personal credit scores can be very different.

This helps to secure a small business owner’s personal assets, in case of a lawsuit or business bankruptcy.

Also, with two distinct credit scores, a business owner can get two separate cards from the same merchant. This effectively doubles buying power.

Another benefit is that even startup businesses can do this. Heading to a bank for a business loan can be a recipe for frustration. But building small business credit, when done the right way, is a plan for success.

Personal credit scores are dependent on payments but also various other components like credit use percentages. 

But for business credit, the scores really merely hinge on if a business pays its debts punctually.

The Process

Establishing company credit is a process. It does not happen without effort. A small business needs to proactively work to build small business credit. 

However, it can be done easily and quickly, and it is much swifter than building personal credit scores. 

Merchants are a big aspect of this process.

Accomplishing the steps out of sequence leads to repetitive denials. No one can start at the top with business credit. For example, you can’t start with retail or cash credit from your bank. If you do, you’ll get a rejection 100% of the time.

The best part? This works during economic downturns.

Company Fundability

A business has to be fundable to loan providers and merchants. 

For that reason, a small business needs a professional-looking web site and e-mail address. And it needs to have site hosting bought from a merchant like GoDaddy. 

And also, company telephone and fax numbers should have a listing on 411. You can do that here: http://www.listyourself.net

At the same time, the company telephone number should be toll-free (800 exchange or the equivalent).

A business also needs a bank account dedicated solely to it, and it must have every one of the licenses necessary for running. 

Licenses

These licenses all must be in the particular, correct name of the company. And they need to have the same company address and telephone numbers. 

So note, that this means not just state licenses, but possibly also city licenses.

Economic Downturns Recession Credit Suite

Learn more here and get started with building business credit with your company’s EIN and not your SSN. Get money even in a recession!

Dealing with the IRS

Visit the Internal Revenue Service web site and get an EIN for the small business. They’re free. Choose a business entity such as corporation, LLC, etc. 

A small business can start off as a sole proprietor. But they probably wish to switch to a type of corporation or an LLC. 

This is to limit risk. And it will optimize tax benefits.

A business entity matters when it pertains to taxes and liability in case of litigation. A sole proprietorship means the business owner is it when it comes to liability and taxes. Nobody else is responsible.

Setting off the Business Credit Reporting Process

Start at the D&B web site and get a free D-U-N-S number. A D-U-N-S number is how D&B gets a small business into their system, to produce a PAYDEX score. If there is no D-U-N-S number, then there is no record and no PAYDEX score.

Once in D&B’s system, search Equifax and Experian’s web sites for the business. You can do this at www.creditsuite.com/reports. If there is a record with them, check it for accuracy and completeness. If there are no records with them, go to the next step in the process. 

This way, Experian and Equifax have something to report on.

Economic Downturns Recession Credit Suite

Learn more here and get started with building business credit with your company’s EIN and not your SSN. Get money even in a recession!

Vendor Credit

First you need to build trade lines that report. This is also called vendor credit. Then you’ll have an established credit profile, and you’ll get a business credit score. 

And with an established business credit profile and score you can begin to get retail and cash credit.

These kinds of accounts often tend to be for the things bought all the time, like marketing materials, shipping boxes, outdoor work wear, ink and toner, and office furniture.

But to start with, what is trade credit? These trade lines are credit issuers who give you starter credit when you have none now. Terms are in most cases Net 30, rather than revolving. 

Hence, if you get approval for $1,000 in vendor credit and use all of it, you must pay that money back in a set term, such as within 30 days on a Net 30 account.

Retail Credit

Once there are 3 or more vendor trade accounts reporting to at least one of the CRAs, then progress to retail credit. These are service providers such as Office Depot and Staples. 

Just use your Social Security Number and date of birth on these applications for verification purposes. For credit checks and guarantees, use the company’s EIN on these credit applications.

Fleet Credit

Are there more accounts reporting? Then move onto fleet credit. These are businesses like BP and Conoco. Use this credit to buy fuel, and to fix and maintain vehicles. Only use your SSN and date of birth on these applications for verification purposes. For credit checks and guarantees, make sure to apply using the business’s EIN.

Cash Credit

Have you been sensibly handling the credit you’ve up to this point? Then move onto more universal cash credit. These are service providers such as Visa and MasterCard. Just use your SSN and date of birth on these applications for verification purposes. For credit checks and guarantees, use your EIN instead.

These are commonly MasterCard credit cards. If you have more trade accounts reporting, then these are in reach.

A Word about Building Business Credit

Always use credit smartly! Don’t borrow more than what you can pay off. Keep an eye on balances and deadlines for repayments. Paying off punctually and fully does more to boost business credit scores than virtually anything else.

Establishing small business credit pays. Good business credit scores help a small business get loans. Your loan provider knows the company can pay its financial obligations. They recognize the company is bona fide. 

The small business’s EIN attaches to high scores and lending institutions won’t feel the need to demand a personal guarantee. This is especially key during economic downturns.

Economic Downturns Recession Credit Suite

Learn more here and get started with building business credit with your company’s EIN and not your SSN. Get money even in a recession!

Prosper Rates and More During Economic Downturns, on Balance

Given that the company likely to go public soon, their Board of Directors will be beholden to shareholder demands. This is as opposed to the requests of either borrowers or employees.

Furthermore, the company seems to shunt all small business loans off to OnDeck, anyway. It seems the best action for a small business owner to take is to bypass the middleman and go straight to OnDeck.

And finally, as with every other lending program, read the fine print and do the math. Go over the details carefully, and decide whether this option will be good for you and your company. Be vigilant during economic downturns.

In addition, consider alternative financing options that go beyond lending, including how to build business credit, to best decide how to get the money you need to help your business grow. Share this if you agree with our Prosper loan reviews.

The post Prosper and Economic Downturns appeared first on Credit Suite.

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