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Debt Restructuring: What It Is and How It Works
Debt restructuring is an important tool for small businesses to manage their debt. It allows them to negotiate with creditors, or lenders, such as banks and other financial institutions, on repayment terms that better suit their current needs. With debt restructuring, a business can make changes to their existing loan agreement or create a new…
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What Risks Does Your Small Business Face When Applying For a Loan?
When applying for a loan, small businesses must be aware of the risks involved. Not assessing the potential risks can put your business in jeopardy and cause lasting damage to its reputation. Too Much Debt One of the most common risks associated with applying for a loan is taking on too much debt. Small businesses…
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Understanding Secured and Unsecured Business Loans.
Secured and unsecured business loans are two types of financing solutions available to small businesses. Business loans provide the necessary funds needed to purchase equipment, start new projects, hire employees or expand operations. Understanding the differences between secured and unsecured loans is important when deciding which type of loan best suits your business’s needs. Secured…
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Ways to Keep Your Small Business Alive After Getting a Loan?
Getting a loan for your small business can be one of the most crucial decisions you make. It is important to understand that while loans are an excellent way to jumpstart your business, they can often come with unexpected challenges. Therefore, if you’re going to take on a loan, it pays off to have a…
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Why is Cash Flow Important to a Small Business?
Cash flow is essential to small businesses. Without it, small businesses will struggle to pay regular bills and could fail if a major expense occurs. It is important to distinguish between cash flow and revenue as they are not the same thing. Revenue vs Cash Flow Revenue is the total amount of money that comes…
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What is Compound Interest and How Does It Work?
Compound interest is an interesting financial concept that affects the lives of many people and businesses around the world. Compound interest is a type of interest which is calculated not only on the initial principal amount, but also on any accumulated interest from previous periods. This concept can be quite advantageous for those with long-term…
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How Does Inflation Affect Small Businesses?
The current state of inflation is having a major effect on small businesses. Inflation can reduce the purchasing power of consumers, increase costs for businesses, and lead to slower economic growth overall. In order to stay successful in today’s economy, small businesses should be aware of how inflation could affect them and what steps they…
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What is Debt Mediation and When Should You Consider it?
The global economy is still reeling from the effects of the pandemic. Small businesses have suffered greatly due to restrictions implemented by governments and the lack of customers. Debt has become a major problem for many small businesses who are struggling to make ends meet. Debt mediation is a process that can help small business…
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Should You Consolidate Your Small Business Debt?
Debt consolidation is a process that allows small business owners to consolidate their high-interest debt into one manageable payment. It involves taking out a single loan with a lower interest rate and using it to pay off multiple existing debts. Debt consolidation can help small businesses streamline payments, reduce stress and save money in the…