The Source

This week in The Source

ACH Transactions: What Businesses Should Know

February 12, 2021

Back before Venmo, PayPal, and Quickbooks, wire transfers and charge cards were the cutting edge of payments technology. Then in 1972, the Automated Clearing House (ACH) was established to process domestic payments.

Working Capital

Collateral Coverage Ratio: What You Should Know

February 10, 2021

Collateral is an asset you pledge in order to secure a loan from a financial institution. Types of collateral may include real estate, inventory, or equipment. If you default on your loan, your lender typically can take your collateral and recoup their money.

Technology

10 Business Credit Card Scanner Apps to Consider

February 9, 2021

As a small business owner, you know that credit card payments are more popular today than ever before. Most customers prefer to pay with credit cards over cash and check. Not only are credit cards...

Small Business

Credit Cards vs. Debit Cards: What’s Right for a Business?

February 4, 2021

As a business owner, you have many choices when it comes to almost every aspect of your company’s finances. This is particularly true when it comes to choosing whether to manage your daily spending with...

Working Capital

How to Select the Right Minority Business Loans and Grants

January 31, 2021

Minority-owned businesses in the United States generate more than one trillion dollars in annual revenue. Therefore, if you’re a minority business owner, you’ve played a critical role in the success of the U.S. economy.

Working Capital

How to Apply for Bridge Financing

January 22, 2021

As a small business owner, you may find yourself needing funds to cover costs for a short time before you can secure permanent financing, improve cash flow, or receive customer payments.

Working Capital

Should You Pay Off Your SBA Loan Early?

January 19, 2021

If you’ve secured an SBA loan, congratulations! You’ll reap a variety of benefits including a lengthy repayment period.

Working Capital

What Are The Top Pros and Cons of Payroll Business Loans?

January 19, 2021

Failing to pay employees on time and in full comes with serious consequences. As a small business owner, you could face lawsuits, legal actions, fines, a tarnished reputation, and damaged employee relationships. Therefore, it’s smart...

Working Capital

Are SBA Loans Secured or Unsecured?

January 15, 2021

Most likely, you understand the difference between secured and unsecured small business loans. However, you might not be sure if you'll qualify for an unsecured loan, especially if you're pursuing SBA financing.