The Source

This week in The Source

SBA Loan Applications: The Approval Process Explained

5 minute read

February 16, 2021

Many small business owners know that they’ll require additional working capital at some point. Often, one of the first places they’ll seek this funding is through the federal government.

Working Capital

Shuttered Venue Operators Grant: Should You Apply?

5 minute read

February 15, 2021

The coronavirus has taken a toll on a variety of businesses including Shuttered Venue Operators (SVOs) like movie theaters, performing arts venues, and art museums. That’s where the Small Business Administration (SBA) Shuttered Venue Operator...

Industries We Serve

The Ultimate Guide to Hair Salon Financing

5 minute read

February 15, 2021

In the United States, the hair salon market is worth $47.1 billion. Clearly, the opportunity for financial success is there, but only if you have the funds to capitalize on it — which is what makes hair...

Working Capital

ACH Transactions: What Businesses Should Know

5 minute read

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

5 minute read

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...

Working Capital

4 Reasons to Consider a Second Draw PPP Loan

5 minute read

February 9, 2021

While they weren’t without controversy, Paycheck Protection Program (PPP) loans helped many small businesses that were struggling due to the COVID-19 pandemic. However, once the money ran out, millions of other small business owners remained...

Technology

10 Business Credit Card Scanner Apps to Consider

5 minute read

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?

5 minute read

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

5 minute read

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.