L3 Funding Blog

What is a DBA? – Everything You Need to Know

by Fitz
November 6, 2020November 6, 2020

What is a DBA?

Are you thinking of operating your business under a different name? Fortunately, it’s easy to do this and doesn’t even require you to incorporate a new company. All you need to do is to file for a DBA.

If you’re thinking, “what is a DBA?”, then you might recognize them by a different term – trade names. It’s how one company can manage multiple brands, as many large corporations do.

In today’s article, we’ll answer the question, “what is a DBA name?” then discuss the reasons why you need one. We’ll end with some tips on how to file for a DBA successfully.

Minority-Owned Business Certification – Why it Matters

by Fitz
October 30, 2020October 30, 2020

Minority-Owned Business: How to Get Certified & More

Being a minority business owner used to be challenging. Most are at a disadvantage when trying to access capital, and networking opportunities were harder to come by for business growth.

Luckily, things are changing.

It’s now easier than ever for a minority-owned business to succeed, thanks to several assistance programs and government initiatives available to them. They just need to become certified as a minority business owner to benefit from these programs.

In this article, we’ll talk about how to get minority certification and what it will mean for a business owner.

by Fitz
October 20, 2020

How to Start an LLC

“Should I start an LLC?” If you’re ready to start your entrepreneurial adventure, then the answer is almost certainly yes! You will benefit from starting your limited liability corporation, or LLC for short.

There are several legal and tax reasons for which you need the protection of an LLC. We’re here to lay it all out for you in this post. But don’t worry, it’s easier than you think.

LLCs are a boon to small business owners, who find them much easier to set up than S-Corps or other traditional corporate structures. If you’re asking, “what is an LLC and how does it work?” then read on.

Qualified Business Income Deduction: What You Should Know

by Fitz
October 9, 2020

Qualified Business Income Deduction: A Tax Break You’ve Been Missing

In 2018, The US Treasury Inspector General determined that there were 900,000 tax returns that qualified for and could have benefited from the qualified business income (QBI) deduction, but didn’t claim it. That’s a lot of taxpayers who didn’t get a deduction that they deserve. You might have been one of them.

In this post, we’ll go over the basics of the QBI deduction, determine if you qualify, and other facts about this little-known business deduction.

The QBI deduction is a business income deduction applied to owners of pass-through entities such as LLCs and S-Corps. Below we will detail how the 20% pass through deduction works and share information that will help you determine if you qualify.

Interest Rate Factor: What It Is, How to Calculate It

How to Calculate Interest Factor Rate

by Fitz
September 30, 2020February 9, 2023

How to calculate the factor rate for small business financing

If you’re the owner of a small business, you understand how daunting managing your cash flow can be. You need to make sure that you can not only keep the lights on, but also cover emergency expenses, payroll, and be able to take advantage of opportunities for growth that arise.

One such critical opportunity is accessing alternative forms of small business financing to thrive in the face of sudden uncertainty. In this post, we’ll discuss how to calculate interest factor and the difference between conventional interest rates and factor rate.

Once you understand the financial implications of factor rate, you’ll be able to take advantage of tools that can help you manage your business, such as merchant cash advance factor rate financing.

by Fitz
September 23, 2020September 30, 2020

Personal Business Loans

Personal business loans refer to taking out a personal loan to start a business under your name. It’s one of the most common sources of capital, especially for smaller startups who can’t meet the stringent requirements of a business loan.

But a much more important question than “how to get a personal loan” is why. Why would you want to do that, and what are the risks involved?

In this article, we’ll discuss personal business loans, the pros and cons of doing it, and whether it’s a good idea for you.

Pros and Cons of Etsy: A Guide to Selling on the Platform

by Fitz
September 14, 2020

Pros and Cons of Etsy

If you’re into selling unique and rare handicrafts, Etsy should be a big part of your e-commerce strategy. With a large and passionate marketplace, it’s one of the best platforms for small craft businesses to sell in.

But before you open that Etsy store, know that it’s not for everyone. Coming in prepared is critical if you want to succeed in this busy marketplace.

In this post, we’ll talk about selling on Etsy, pros and cons of doing it, and if it’s the right strategy for you.

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