Profit and Loss Statement: Why Is It Important for Your Business Starting a business and running it successfully is challenging. And one of the most challenging areas is accounting. So, if you are a new business owner hopelessly staring on your first profit-loss statement (P&L), then you are not alone. For business owners who do not have solid background in Accounting, understanding the profit and loss statement can be pretty difficult. In fact, a lot of small businesses make the humongous mistake of not maintaining the P&L record in their

Looking at Starting A House Flipping Business? Go for Hard Money Loan! House flipping has become a lucrative business due to the rise in property prices since the Great Recession of 2008.  It is pretty straight forward actually. You buy an old house, renovate it and sale it at an elevated price. Sounds good, right? But, you do need the capital money to get started here! You need money to purchase the property, to fix it, to pay taxes, to pay insurance and so on. So, unless and until, you

How to Prepare Your SBA Loan Package As a small business, SBA loans are by far the best options you’ve got. Offered by U.S. Small Business Administration, these loans are long-term, have low interest rate, and are backed by the federal government. This means, as a borrower, not only you get more time and pay less in interest; but in case you fail to repay the loan, the government steps in and pays off your debts. Of course, it is the dream loan for any small business! But, understandably, getting

Grow Your Agriculture Business With Farm Loan Are you into agriculture business? If yes, you already know the blessings and perils of it. While it can be a pretty profitable venture, not to mention amazingly satisfying too; the uncertainties of Mother Nature often makes it harder for you to plan your finances. Be it buying a piece of farming land or purchasing some essential equipment, often the seasonal nature of the business becomes a hindrance for your growth.   Well, it does not have to be so!   Growing your

[How To] Prepare to Get Approval from the Best Business Lenders Applying for a business loan is often an intimidating experience, especially for small or new business owners. While on one hand, you are eager to receive the funding that’ll help your business grow; on the other hand, you are cautious not to make a bad decision that’ll have adverse effects on your finances for years to come. Finding out the best business lenders is not the end of it too! While online application has made the process easier for