Day: June 16, 2020

Should You Apply for Temporary Jobs?

Should You Apply for Temporary Jobs?

Not every task hunter is able to land their desire task or also a long-term task if that. If you are having difficultly locating work, you may be in the procedure of taking a look at short-lived work, however are they right for you?

There are a number of crucial elements that you will certainly desire to take right into factor to consider when it comes to figuring out if you ought to use for short-term work. These elements can assist you make sensible work options. A few of the lots of variables that you will certainly intend to think about, when taking a look at short-lived work as well as momentary work, are detailed listed below for your comfort.

One of the numerous variables that you will certainly desire to take right into factor to consider, when analyzing short-term work, is your existing work condition. As you most likely currently recognize, momentary tasks can last for as little as one week or as lengthy as a couple of months. It is crucial to keep in mind that absolutely nothing is assured with momentary work.

In maintaining with your present work condition, if you are out of work, you might desire to put an emphasis on short-lived work and also momentary work. This additionally consists of analyzing short-lived tasks in your location. What is perfect concerning short-lived work is that many companies recognize that their short-term workers are browsing for even more long-term work.

While there are some variants, you will certainly locate that companies that are looking for short-term workers transform to staffing companies that specialize in short-term work. Depending on where you stay, you ought to have accessibility to one or 2 various short-lived work firms. The aid of a momentary company must be totally free of fee; nevertheless, you might additionally be needed to pay a tiny regular monthly solution charge, depending on the firm that you pick to look for support from.

One more one of the several elements that you will certainly desire to take right into factor to consider, when checking out whether or not short-lived work is appropriate for you, is wellness insurance coverage. If you do and also if you are not able to obtain health and wellness insurance policy via your partner, must you have one, you might desire to take into consideration holding off on looking for short-lived work. This is since nearly all momentary companies do not provide wellness insurance policy to their short-term workers.

The above stated variables are simply a few of the numerous variables that you will certainly intend to think about, when checking out momentary work. Obviously the choice is your own to make, yet, essentially, you will certainly locate that short-lived work is suitable for those that are presently out of work as well as require cash as soon as possible.

If you are having difficultly locating work, you may be in the procedure of taking a look at short-lived work, yet are they right for you?

A few of the numerous aspects that you will certainly desire to take right into factor to consider, when analyzing momentary work and also short-term work, are laid out listed below for your comfort.

In maintaining with your existing work standing, if you are jobless, you might desire to put an emphasis on short-term work as well as short-lived tasks. What is optimal concerning short-lived work is that a lot of companies recognize that their short-lived staff members are browsing for even more long-term work. While there are some variants, you will certainly discover that companies that are looking for short-term workers transform to staffing companies that specialize in short-term work.

The post Should You Apply for Temporary Jobs? appeared first on ROI Credit Builders.

Work Taxes– Depositing With The IRS

Work Taxes– Depositing With The IRS

You need to pay work tax obligations if your organisation has workers. The settlement system can be a little bit complex, so this post goes over exactly how to deal with transferring work tax obligations with the IRS.

Transferring Employment Taxes

To pay work tax obligations, you have to transfer the cash with the IRS. As is regular with tax obligation scenarios, the repayments are not really made to the IRS. Rather, you have to transfer the work tax obligations with a government vault.

To transfer the tax obligations, you ahead cash per the financial institution requirements. You will certainly additionally require to submit a Federal Tax Deposit Coupon, Form 8109, with the down payment.

When To Deposit

As soon as or two times a month, you need to transfer work tax obligations either. The IRS will certainly send you a timetable at the end of yearly for the succeeding year. As a basic regulation, you intend to submit within a couple of days of each pay duration.

Failing To Deposit

Gathering work tax obligations is a high concern of the IRS. In brief, make definitely certain you transfer the work tax obligations.

In Closing

There is nothing else means to place it– paying work tax obligations is a discomfort. Simply make certain you pay them to prevent the rage of the IRS.

To pay work tax obligations, you have to transfer the cash with the IRS. Rather, you have to transfer the work tax obligations with a government vault. You will certainly additionally require to submit a Federal Tax Deposit Coupon, Form 8109, with the down payment. You should transfer work tax obligations either as soon as or two times a month. In brief, make definitely certain you transfer the work tax obligations.

The post Work Taxes– Depositing With The IRS appeared first on ROI Credit Builders.

Anarchy in the Streets of Philadelphia

22 Easiest Jobs to Get to Supplement Your Income

I know it’s a bumpy process to get a work-from-home job.

It definitely helps if you have the expertise, experience, and a lot of other soft skills to land a good-paying job.

Sometimes you just need an easy job. It’s as simple as that.

So, today I am listing some of the easiest jobs you can do. Some of them do require some skills, but they are easy to learn. Many of these jobs are from home, flexible, and pay reasonably well.

Before we dive in, here are some questions in your mind:

 

Are there really any easy jobs?

Well, any field that’s easy to break into and gives you a lot of flexibility is an easy job, in my opinion. There are many easy jobs around, and you just have to choose the ones that fit your schedule and pay.

 

How to land the easiest jobs?

If you are particularly looking for jobs that do not require any skills, try some micro gigs and the jobs which need no prior experience. There are some basic skills you can learn quickly to get easy jobs. Try learning these skills online in places like Udemy or Skillshare.

Sometimes you can get jobs easily through your network. Always keep a tab on what positions open in companies through your social media like Twitter or Facebook. 

Some of the easy jobs might not pay well. So, before you jump at the opportunity, assess what your income expectations are, then take the next step. An easy job is not worth it if it pays less than your needs.

 

Here is a list of some of the easiest jobs you can get:

 

Chat Agents

Chat agent jobs can be your first choice if you are looking for easy jobs. If you are not familiar with the chat agent role, they are the first point of contact for customers. They handle inquiries about products, answering general questions, even technical assistance. The job is quite flexible, and it helps if you have a background in customer service but not necessary.

Companies like LiveWorld, The Chat Shop, Needle hire chat agents to work from home.

Average pay – $13 per hour.

 

Related:

40 Legitimate Work-at-Home Jobs & Side Gigs for 2018 (Updated for 2020)
26+ Real Online Jobs You Can Do From Anywhere

 

Transcriptionist

Transcription jobs might need some brushing up on skills, but if you have good typing skills, then you can upgrade from there. A transcriptionist is someone who translates an audio file into text.

This is one of the most popular jobs in the work-from-home industry. You can choose three different fields in transcription: general, medical or legal. You can read more about how to become a transcriptionist in this interview.

Companies like Rev, TranscribeMe, Scribie, and FocusForward hire for transcription jobs.

Read our Scribie review here.

Average pay – $16 per hour according to BLS.

 

Food/Grocery Delivery

Food delivery is one of the easiest jobs out there. According to a report, revenue from online food delivery globally will be $200 billion by 2025. That simply means more jobs for delivery drivers.

If you are interested in getting into this booming industry, then there are some minimum requirements you need to have: having a vehicle like a car, bike, or a bicycle. You can even walk and deliver for some companies. A valid driver’s license, background check, and a smartphone are necessary to apply for this job.

Food delivery companies like Postmates, Instacart, Doordash, and Grubhub hire delivery drivers.

Average pay – $10–$25 per hour.

 

Data Entry

Simple typing jobs or data entry jobs are some of the easiest jobs among work-from-home jobs. Most of the companies do not ask for any expertise for this role except for good typing speed. If you are applying for a specific industry, then it’s good to have knowledge of that area to understand the terminology.

Though data entry jobs are easy to get, you always have to keep an eye for the infamous data entry scams online.

The companies that hire data entry workers are DionData Solutions, SpeakWrite, The Smart Crowd, and Sigtrack.

Average pay – $19 per hour.

 

Rent Stuff or Space

Renting stuff or space is not a job but definitely an easy thing to do if you are looking to earn extra money. You can rent your space with Airbnb or just let dog owners use your backyard for money with Sniffspot.

If you want it much easier, then you can rent anything from your baby stuff via BabyQuip to furniture, etc. The items you can rent out are endless, and it’s pretty easy.

Average pay – Depends on the items and duration of time you are renting the items for.

 

House Sitter

Sometimes you can find unique jobs that pay well like house sitting jobs. Though house sitting is a not full-time gig, this can really come in handy if you want to supplement your income. As a house sitter, you will be taking care of the house and pets when the house owners are not around.

You can register on websites like TrustedHousesitters, Nomador, MindMyHouse, etc. and find house sitting jobs in your area.

Average pay – Depends on the location and duration of house sitting.

 

Tutor

Online tutoring is the next best job to get after data entry jobs. You can choose to be an English as a Second Language (ESL) tutor or a subject tutor. There is a lot of demand for ESL tutoring right now, and there are many legit companies that hire work-from-home tutors to teach Chinese kids online.

Many of these companies ask for TESOL certification and experience, but others hire beginners. Course Hero is one of the online tutoring companies that doesn’t ask for experience.

For ESL tutoring, you can sign up with companies like VIPKid, Education First, and Qkids. If you are looking for tutoring jobs to teach specified subjects, then websites like Cambly, Skooli can help.

Read our review on VIPKid here.

Average pay – For ESL Tutors, the pay is $14–$31 per hour.

 

Market Research

If you are looking to help brands to improve their products and get paid for it, then sign up for market research companies. Though it’s not a job, it gives you extra money while you do things you love: like playing games, watching videos, and browsing the web.

Surveys are a great way to voice your opinion about products and earn money. The more you sign up for, the more chances you have to earn extra cash.

Some of the good surveys are Swagbucks, InboxDollars, MyPoints, and Survey Junkie.

Read our review here on Swagbucks, InboxDollars.  Both of these websites give you a $10 bonus when you sign up.

Average pay – $3–$400 a month, depending on the number of surveys you do.

 

Ridesharing

Ridesharing is probably one of the first jobs that started the sharing economy. If you are not bothered about driving to earn money, then ridesharing is the best job for you. There are requirements like being at least 18 years of age, having a car, a smartphone, a background check, etc., if you are interested in this gig.

Companies like Lyft and Uber hire drivers for ridesharing.

The average pay is $9 to $12 per hour.

 

Search Engine Evaluator

If you want a flexible work from home job that’s easy to get, then search engine evaluation could be your thing. As a Search Engine evaluator, you will be rating or evaluating search engine results.

Anyone can do this job without any experience. There are minimum requirements like knowledge of social media channels, general browsing, and having good knowledge about the country you are in.

Companies like Lionbridge and Appen regularly recruit for a variety of positions that involve search engine evaluation.

Read our review on Appen here.

Average pay – Depends on the country and the role.

 

Micro Tasker

Micro tasks are small gigs you can do here and there to earn extra money. These are tiny project-based jobs and include a lot of services like furniture removal, gardening, personal assistant, fixing small equipment, etc.

Micro tasks generally make less money, but if you develop skills, you can charge more depending on your experience.

You can sign up on websites like TaskRabbit, Gigwalk, FieldAgent, etc., describe your skills and start looking for clients.

Read our review on TaskRabbit here.

Average pay – Depends on the gig and time taken to complete it.

 

Online Stylist

If you have a great fashion sense and love working with people, then becoming an online fashion stylist could be your job. As a virtual stylist, you will be choosing clothes and creating a “look” for your clients, depending on their budget, liking, and fashion sense.

Being knowledgeable about the fashion trends, having a pleasant demeanor, and the willingness to understand your clients are some of the requirements of this job.

Companies like StitchFix, Bombfell, and Allume hire virtual stylists. Check its website for openings.

Read our review on StitchFix here.

Average pay – $14 to $23 per hour.

 

Virtual Assistant

Virtual Assisting is expected to grow as the number of small businesses grows, and being more productive is the mantra. Remote virtual assistants help businesses with a lot of tasks like admin work, making reservations, copywriting, website maintenance, social media, content writing and a lot more. Here is a full list of services that a virtual assistant can offer.

Companies like Belay Solutions, Profit Factory, VaVa Virtual Assistants, etc. offer remote VA roles.

Average pay – $8–$50 per hour.

 

Travel Planner

Do you love planning your vacations meticulously? If so, travel planning is something you can consider. Travel Planners help people plan their holidays without the stress of going through the process. This is an enjoyable and flexible job for someone who loves traveling.

You can find remote travel agent jobs in places like Hilton, World Travel Holdings, BCD Travel, etc.

Average pay – $18–$26 per hour.

 

Voice Actor

Voice Acting is lending your voice to digital media like movies, advertisements, book narrations, announcements, etc. Voice Acting is a skilled job and requires you to have a good voice (you can also get trained for this), a proper home studio, and a good experience.

You can find voice acting jobs on websites like Voices.com, Bodalgo, BunnyStudioVoice, Filmless, etc. You can also find small voice over gigs on freelancing sites, which could be a good starting point for beginners.

Average pay – $31 per hour.

 

Video Game Tester

If you love playing video games and are looking for a job in this area, then try becoming a video game tester. As a video game tester, you will be checking for the bugs or errors in the game before they get released into the market.

This job does not require any qualification, but a thorough knowledge of the working of games is desirable. Some of the companies do ask for specific skills.

There are many companies like PlaytestCloud, Game Tester, Bananatic, Nintendo, etc. that hire game testers.

Average pay – $22 per hour.

 

Pinterest Assistant

Who doesn’t love Pinterest? Pinterest has the highest number of users, many of which are businesses. These businesses hire Pinterest VA to manage their social media. As a Pinterest Assistant, you will be creating, managing, and growing the social media channel.

If you want to dig deep into this job, you can check this in-depth interview.

Pinterest VAs get hired from many freelancing websites like Upwork, Freelancer, Guru, etc.

Average pay – $150–$400 per month depending on what the client needs.

 

Professional Organizer

If you are nicknamed the Marie Kondo of your home, then take up Professional Organizing as a career. Though many professional organizers started their careers without any qualification, having the right certification can help land more clients. Joining professional associations like NAPO gives credibility to your job and enables you to network with other organizers.

As a professional organizer, you can help people and businesses organize their homes or workspaces in a better way and declutter. There is a huge potential to make this as a profitable business.

Average pay – $20 per hour

 

Pet Sitter

Do you love pets? If you do, then pet sitting is the easiest job you can get. Spending time taking care of pets is more of a stress reliever than a job if you ask me. This part-time job is very much suitable for teens, students, or even stay-at-home moms. You can do a lot of things like dog walking, pet daycare, or even pet boarding.

You can register with companies like Rover or Fetch! Pet Care as a sitter and start getting jobs.

Average pay – $12 per hour, according to Ziprecruiter.

 

Website Tester

As a website tester, you will be navigating through websites/blogs and checking the user experience and functionality. This job requires you to have a laptop, webcam, and a headset where you can speak about your opinion.

This is an extra income earner, and you do not need any particular expertise to do this job. If you are interested in this job, here is a list of companies that hire website testers.

Average pay – $8–$10 per test.

 

Mystery Shopper

Mystery shopping is a fun way to earn extra money. I wouldn’t call it a job because the gigs might not be continuous. Nevertheless, once you sign up with some legit companies, whenever you see gigs come up, you can start.

Though what you do as a mystery shopper differs slightly with every project, generally you go into a shop, observe stuff or buy a product and make notes of the whole thing.

Only choose the mystery shopping companies registered with MSPA like BestMark, Call Centre QA, Market Force, etc. for mystery shopping jobs.

Average pay – Depends on the project.

 

Food Reviewer

What if you could taste different cuisines and earn money from them? Amazing, right?! As a food critic, you will be tasting and analyzing different cuisines and writing reviews about them.

Though there is no set qualification apart from a bachelor’s degree for this job, you should have a good understanding of the food industry, excellent writing skills, and, if needed, be able to travel.

Freelancing can help you find food critic jobs along with networking with the food industry field.

Average pay – $24 per hour.

 

Easiest jobs can be flexible and high paying.

 

Contrary to popular belief that the jobs that are easy to get are usually not well paid, there are many jobs on this list that pay really well. It depends on your schedule and income goals to choose the right ones.

Even if you have to learn new skills to get a job that’s relatively easy to do, don’t step back. You have a lot of online help to learn new skills and grab that dream job.

The post 22 Easiest Jobs to Get to Supplement Your Income appeared first on Crowd Work News.

Top 20 Pittsburgh Steelers Blogs & Websites To Follow in 2020

Top 20 Pittsburgh Steelers Blogs Contents [show] ⋅About this list & ranking Pittsburgh Steelers Blogs Behind the Steel Curtain | A Pittsburgh Steelers community Steelers Depot | Steelers News Blog Steelers Wire Still Curtain | A Pittsburgh Steelers Fan Site Steel City Underground | Pittsburgh Steelers News, Blog & Podcast SteelerNation.com ProFootballTalk » Pittsburgh Steelers Pittsburgh Post-Gazette […]

The post Top 20 Pittsburgh Steelers Blogs & Websites To Follow in 2020 appeared first on Feedspot Blog.

Top 15 Las Vegas Raiders Blogs & Websites To Follow in 2020

Top 15 Las Vegas Raiders Blogs Contents [show] ⋅About this list & ranking Las Vegas Raiders Blogs Silver And Black Pride | A Las Vegas Raiders community Raiders Wire Just Blog Baby | Raiders News, Updates, and more SFGate » Las Vegas Raiders ProFootballTalk » Las Vegas Raiders Las Vegas Review-Journal » Las Vegas Raiders PFF » […]

The post Top 15 Las Vegas Raiders Blogs & Websites To Follow in 2020 appeared first on Feedspot Blog.

Best Options for Salon Financing in A COVID-19 World

As many businesses are beginning to look at reopening, salon owners are facing a particularly unique predicament.  Merchant cash advances have long been a salon financing standard, but without credit card sales coming in and no guarantee of when they can open up, that funding source is no longer a viable option for many. 

Best Salon Financing Options

There are other options of course, but which ones work best for salon financing?  Is a term loan best?  Would credit cards work better?  How about a line of credit?  Of course, the answer depends on a number of factors. Take a look at these options, consider your own situation, and see which one will work best for you.

Credit Line Hybrid Financing: Get up to $150,000 in financing so your business can thrive.

Salon Financing: Credit Line Hybrid

One unique option is the credit line hybrid. It is easier to get than a lot of salon financing options, and you can typically get more money than with other options. It’s basically revolving, unsecured financing.  It allows you to fund your business without putting up collateral, and you only pay back what you use.  

Do You Qualify? 

It’s not as hard as you may think to qualify.  First, your personal credit score should be at least 685.  In addition, you can’t have any liens, judgments, bankruptcies or late payments.  Furthermore, in the past 6 months you should have less than 5 credit inquiries, and you should have less than a 45% balance on all business and personal credit cards.  

If that seems daunting, don’t worry.  If you do not meet all of the requirements, you can take on a credit partner that does.  Many business owners work with a friend or relative to fund their business.  If a relative or a friend meets all of these requirements, they can partner with you to allow you to tap into their credit to access funding. 

What are the Benefits? 

salon funding Credit SuiteThere are many benefits to using this for salon financing.  First, it is unsecured.  That means you don’t have to have any collateral to put up.  Next, the funding is “no-doc.”  That means you do not have to provide any bank statements or financials either.  

Better yet, typical approval is up to 5x that of the highest credit limit on the personal credit report. Often you can get interest rates as low as 0% for the first few months.  This allows you to put that savings back into your business. 

The process is pretty fast.  This is especially true if you have a qualified expert to walk you through it.  One other benefit is that the approval of multiple credit cards creates competition. This makes it easier, and even likely,, that you can get interest rates lowered and limits raised every few months. 

Funding Flexibility

In addition to these fabulous benefits, a credit line hybrid is an especially flexible form of funding.    Funds are available as needed and when needed for a variety of things, including but not limited to: 

  1. Paying off higher interest debt.  This could allow you to lower monthly payments and increase credit score. Imagine using a 0% interest credit line to pay off a number of high interest credit cards.  You could literally save yourself hundreds of dollars a month that can then be put back into your business. 
  2. Bridging a cash gap caused by slow collections or seasonal issues. You could never have to worry or stress about large invoices being paid slowly, or slow business in the off season, ever again.
  3. Covering bills during a global pandemic. COVID-19 turned the whole economy on its head.  No one knows if or when it will happen again.  Funds from a credit line hybrid can help you stay above water without waiting for or just hoping you can get government relief.
  4. Taking advantage of promotional pricing. Think about the next time your best seller goes on sale with the wholesale company, you can buy as much as you want at the promotional price because you have the funds.  
  5. Growing and expanding your business by adding equipment, adding on to your building, or even opening a new location. 
  6. Funding updates and repairs. Don’t let things slide any longer because you can’t pay for it.  Get the repairs you need, do the updates that need doing, and watch your business thrive. 
  7. Save it for a rainy day.  Leave it alone until you need it.  No one can see into the future.  It never hurts to have a safety net.

Credit Line Hybrid Financing: Get up to $150,000 in financing so your business can thrive.

Online Lenders

Online lenders tend to work well for salon financing.  Your credit score doesn’t have to be quite as high as it does with traditional banks, and the funds can be in your bank account much more quickly. There are tons out there, but some work better for salons than others.  Here are two examples that are generally favorable for salons. 

OnDeck 

Obtaining financing from OnDeck is fast and simple. First, apply online.  Then, receive your decision once application processing is complete. If approved, your loan funds will go directly to your bank account. The minimum loan amount is $5,000 and the maximum is $500,000.

Just like any other online lender, they do have certain requirements to qualify for a loan.  For example, a personal credit score of 600 or more.  Also, you must be in business for at least three years. Annual revenue must be at or exceed $100,000. In addition, there can be no bankruptcy on file in the past 2 years and no unresolved liens or judgements.

Kabbage 

Kabbage is a well known online lender offering a small business line of credit that can help businesses accomplish business goals. The minimum loan amount is $500 and the maximum is $250,000. They require you to be in business for at least one year.  Also, you must have $50,000 or more in annual revenue.  They will accept $4,200 or more in monthly revenue over the most recent three-month period to meet income requirement as well.

Kabbage is a go-to if you need cash quickly. Their non-traditional approach puts less weight on your credit score.  This means they may work well for borrowers that still have some work to do in that department.

Credit Cards

Just like online lenders, some credit cards work better for salons than others.  There are dozens out there.  It takes some research to determine which ones may work best for your salon financing needs.  Here are a couple that tend to work well to help get you started. 

Blue Business® Plus Credit Card from American Express

Check out the Blue Business® Plus Credit Card from American Express. It has no yearly fee and there is a 0% introductory APR for the initial twelve months. After that, the APR is a variable 14.74 to 20.74%.

Get double Membership Rewards® points on everyday business purchases.  These include office supplies or client dinners.  This applies to the first $50,000 spent annually. Get 1 point per dollar afterwards.  You’ll need great credit to qualify. 

Capital One® Spark® Classic for Business

Consider the Capital One® Spark® Classic for Business. It has no yearly fee, but there is also no introductory APR offer. The regular APR is a variable 24.49%. You can earn unlimited 1% cash back on every purchase for your company. There is no minimum redemption requirement either.

This card is within reach if you have fair credit, but beware of the APR. Still, if you can pay on schedule, and completely, then it’s a great deal.

SBA Funding

We all know the emergency SBA funding in response to COVID-19 has been a debacle, but their regular loan programs are still available.  Some of them can work well for salon financing. 

7(a) Loans

This is the Small Business Administration’s most popular loan program. One reason is, it offers federally funded term loans up to $5 million. In addition, the funds can be used for expansion, purchasing equipment, working capital and more. Banks, credit unions, and other specialized institutions, in partnership with the SBA, process these loans and disburse the funds.

The minimum credit score to qualify is 680.  Also, there is a required down payment of at least 10% for the purchase of a business, commercial real estate, or equipment. Lastly, the minimum time in business is 2 years. In the case of startups, business experience equivalent to two years will do the trick.

Funds are available for a wide variety of projects, from working capital to refinancing debt.  You can even buy a new business or real estate.

504 Loans 

These loans are available up to $5 million and can buy machinery, facilities, or land. For the most part, they are for expansion. Private sector lenders or nonprofits process and disburse these loans. They especially work well for commercial real estate purchases.

Terms for 504 Loans range from 10 to 20 years.  Unfortunately, funding can take from 30 to 90 days. They require a minimum credit score of 680, and collateral is the asset the loan is financing. Furthermore, there is a down payment requirement of 10%, which can increase to 15% for a new business.

Another requirement is that you be in business for at least 2 years, or that management has equivalent experience if the business is a startup.

Microloans 

Microloans are available in amounts up to $50,000. They work for starting a business, purchasing equipment, buying inventory, or for working capital. Community based non-profits administer microloan programs as intermediaries. Unlike the others, financing comes directly from the Small Business Administration.

Credit Line Hybrid Financing: Get up to $150,000 in financing so your business can thrive.

SBA Express Loans 

These loans max out at $350,000.  Moreover, they have a maximum interest rate of 11.50%. Terms range from 5 to 25 years.  In contrast to the others, the SBA guarantee is less, at 50%. To qualify, your credit score must be above 680.  Also, you must have a debt to service ratio of 1.1 or higher. If the loan is greater than $25,000, collateral may be necessary depending on the lender.

The turnaround for express loans is much faster.  In fact, SBA takes 36 hours or less to give a decision. Not only that, but the necessary paperwork for application is less also.  This makes express loans a great option for working capital, among other things, if you qualify.

A Quick Note on Equipment Financing

If you need to buy equipment for your salon, like chairs, tools, or sinks, any of these options will work.  However, it’s possible that specific equipment financing options may work even better.  These are small busienss loans in which the lender lends a portion of the quoted cost for the equipment you wish to purchase. 

Equipment loans are different because the asset you are purchasing is the security for the loan.  This makes equipment loans easier for those who do not have great credit or for borrowers that want to reduce their guarantee.

Is Your Salon Fundable? 

One of the best ways to ensure you can get salon financing when needed is to work on the fundability of your salon.  This includes a lot more than credit score.  It has to do with how your business is set up, how all of your personal and business records line up, and what information is available to lenders about your business from various sources.  It’s wise to do an analysis of fundability to ensure that your ducks are in a row.

In the meantime, it’s easy to make sure your business is set up to be fundable.  Consider the following: 

  • Do you have a separate business phone number and address?  This is necessary to fundability and business credit. 
  • Do you use an EIN to apply for business credit rather than your personal SSN?  You can get one for free at IRS.gov if you don’t already have one. 
  • Is your business incorporated?  It’s non-negotiable.  You must be incorporated to build fundability and business credit. 
  • Do you have a separate business bank account?  That’s necessary as well, for a number of reasons, including building fundability and business credit. 
  • Make sure you have all the licenses required to operate your business at all levels. 

Of course, this list is not exhaustive, but it is a great start and you can work on it now.  

Salon Financing is Out There, You Just Have to Know What You are Looking For

The truth is, these post COVID-19 times are hard for everyone, and salon financing may look different during hard economic times.   It is available, but you have to know which type of funding will work best for you.  Often a term loan isn’t an option, and even more often it isn’t the best option.  A credit line hybrid works well for almost anyone, and it comes with the bonus of potentially helping to build business credit. 

In the end, the answer depends on what you qualify for and what works best for your specific situation.  Research is key, and increasing your fundability always helps.

The post Best Options for Salon Financing in A COVID-19 World appeared first on Credit Suite.

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PHP, Internet Business Marketing, & Good Web Content Go Hand In Hand

PHP, Internet Business Marketing, & Good Web Content Go Hand In Hand When it comes to browse engine optimization as well as simply great old level internet website advertising smarts, everybody has actually listened to that material is king. Just how you provide that material on your website can additionally make a globe of distinction. …

New comment by Hire_Flo in "Ask HN: Who wants to be hired? (June 2020)"

Location: [South UK] Portsmouth / Southampton Remote: Experience in working remote is there, but it really doesn’t matter to me, as long as the commute isn’t long Willing to relocate: NO Technologies: JAVA, SQL Résumé/CV: I am Flo, 25 years old and moved from germany to the UK in October to live with my SO. …

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