You can use a business credit card for many purchases, and doing so can help your company stay on top of cash flow and earn rewards to boot.“If you are starting a new business and you are generating business expenses, it’s a good time to get a business credit card,” says Raul Vasquez Hernandez, a senior business development officer at small-business lending nonprofit TruFund.No matter what stage of growth your business is in, here’s how to get the most out of your card — without leaning on it too hard. 1. Accessing capital as a startupNew businesses typically don’t qualify…

If you operate a limited liability company (LLC), a range of business financing options can offer the capital you need. LLC loans can help you fund startup costs, inventory and equipment purchases, business expansion and more. 250+ small-business products reviewed and rated by our team of experts. 95+ years of combined experience covering small business and personal finance. 50+ categories of best business loan selections.NerdWallet’s small-business loans content, including ratings, recommendations and reviews, is overseen by a team of writers and editors who specialize in business lending. Their work has appeared in The Associated Press, The Washington Post, MarketWatch, Nasdaq,…

Whether it’s to manage finances, accept payments or reach new customers, more small-business owners are optimizing their business operations with digital tools — leaving them increasingly vulnerable to digital security breaches and cyber attacks. Exposure to cyber attacks topped the list of the biggest worries small-business owners face, even surpassing concerns about inflation and other economic issues, according to a 2023 report on cybersecurity released by Hiscox, a business insurance company. The consequences of these breaches can extend beyond the initial threat, as well. Twenty-five percent of business owners surveyed by Hiscox indicated that cyber attacks had an overall negative…

To find the cheapest credit card processing company, you’ll want to consider your business’s industry, sales volume, typical transaction size and whether you process payments in person, online or both. Because credit card processing companies often have different pricing structures, no single provider is the cheapest option for all businesses, but these factors can help you estimate and compare credit card processing fees.In addition to the processing fees themselves, remember to factor in monthly subscription costs and hardware expenses if you plan on accepting card payments in person. To further narrow down options, you can make a list of extra…

Many banks limit how much cash you can deposit per day or per month for free. After you reach that limit — which is often around $5,000 per month — your bank may charge a small volume-based fee, such as 10 cents for every $100 over the limit. Some banks also charge transaction fees for each deposit.If cash is an important part of your business, look for a bank that offers unlimited fee-free cash deposits like NBKC. Read the full article here

⏰ Estimated read time: 22 minutesSmall-business grants provide free money for startups and existing businesses, including those impacted by the coronavirus pandemic or other hardships. Unlike small-business loans, grants offer access to capital that doesn’t need to be repaid.It takes time and effort to research and apply for funding, but the payoff can be worth it if you secure a grant for your small business. To help you get started, here’s a list of federal, state and private small-business grants and resources.We’ll start with a brief questionnaire to better understand the unique needs of your business.Once we uncover your personalized…

NerdWallet’s review process evaluates and rates small-business loan products from traditional banks and online lenders. We collect over 30 data points on each lender using company websites and public documents. We may also go through a lender’s initial application flow and reach out to company representatives. NerdWallet writers and editors conduct a full fact check and update annually, but also make updates throughout the year as necessary.Our star ratings award points to lenders that offer small-business friendly features, including:- Transparency of rates and terms.- Flexible payment options.- Fast funding times.- Accessible customer service.- Reporting of payments to business credit bureaus.-…

A closer look at the best business loans for bad creditBest overall for bad credit business loansCan be a good option if:May not be a fit if:You have a personal credit score of at least 570 and/or at least 6 months in business.You don’t have collateral to secure a loan (or don’t want to risk your assets).You want a discount for prepaying your loan.You want a repayment term longer than 18 months.Your monthly revenue is less than $20,000.You want to build business credit.Why we picked itFora Financial is an online lender that has flexible qualification requirements, making it a good…

A closer look at the best business loans for womenBest for: Established businessesHow it benefits women entrepreneurs: The SBA has been making a concerted effort to equalize the lending playing field and ensure that women entrepreneurs are able to access capital that empowers them to grow their businesses. In FY 2024, for example, the SBA has loaned more than $4.8 billion in 7(a) funds to businesses that are majority women-owned[0].With an SBA 7(a) loan, women business owners have access to low interest rates and long repayment terms, plus the versatility to use the funds for working capital, supplies, inventory, equipment,…

A closer look at the best long-term business loansBest for repayment terms up to 25 yearsU.S. Small Business AdministrationSBA 7(a) loanMaximum term length: 25 years.For-profit U.S. business.Unable to access credit on reasonable terms from nongovernment sources.Financial qualifications determined by individual lender.ProsLarge borrowing maximums.Interest rates are capped.Long repayment terms available.ConsPersonal guarantee is required.Collateral is typically required.Longer processing times than online lenders.Bank of America Business Advantage Unsecured Term LoanBest for low interest ratesBank of AmericaBank of America Business Advantage Unsecured Term LoanMaximum term length: 60 months.Minimum credit score: 700. Minimum time in business: 24 months.Minimum annual revenue: $100000 .ProsBank loan with competitive…