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Business Planning

Accounts Payable vs Accounts Receivable

Many business owners don’t understand the difference between accounts payable and accounts receivable, but these are key terms related to your company’s finances. Despite their importance, accounts payable vs. receivable still becomes a source of accounting confusion for some. 

Although both accounts receivable and accounts payable are items on your balance sheet that are crucial for business operations, it’s essential to differentiate between accounts receivable vs. payable. You must know which of these accounts is for assets and which deals with liabilities, or your business could end up in debt and overextended.

In this post, we’ll answer the question, ‘what are accounts payable and accounts receivable?’, discuss accounts payable vs. accounts receivable, and explain the importance of receivables and payables.

Categories
Business Planning

Cost to Open a Restaurant: Details You Need to Know

How Much Does It Cost to Open a Restaurant?

While interest in cooking shows, culinary courses, and the foodie lifestyle abound, building a new restaurant business is a serious endeavor that requires more than just skill in the kitchen. There are a number of questions to consider when figuring out how to start a restaurant.

With that in mind, we’ll be discussing how much it costs to open a restaurant as well as share ideas and resources on opening the eatery of your dreams, all while maintaining a budget. 

Categories
Business Loans

What is a Personal Guarantee Loan?

The Personal Guarantee Loan: What it Means for Your Business

When starting a small business, you may be required to provide what is called a personal guarantee for any business loans you take out. A personal guarantee exposes your personal assets to legal action and collection by lenders if you should default on your loan. However, personal guarantee loans also help small businesses get their start and provide money for unexpected expenses.

Since small business owners are the types of borrowers who most often have to sign a personal guarantee, we will talk about the various types of personal guarantees and what they mean for you and your business.

Categories
Business Loans

Startup Business Loans for Veterans

Small Business Grants for Veterans: How to Secure Funding

One of the rewards following a successful tour of service in the U.S. armed forces is the support that the U.S. government grants veterans. The U.S. armed forces have extensive programs to assist veterans in transitioning from military to civilian life.

If you are a veteran, a service member in transition, or the spouse of a service member, we hope you’ll find the information below useful in devising plans for a veteran-led small business. There are a great number of organizations that award grants for veterans to start a business. Join us as we dive into the subject of small business grants for veterans.

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Business Loans Business Planning

What is the Cost to Open a Dispensary?

How Much Does it Cost to Open a Dispensary? Your Marijuana Business Questions, Answered

With the recent spate of marijuana legalization initiatives, several states have now authorized the opening of marijuana dispensaries across the country. In 2014, Oregon approved ballot measure 91, which permitted sales of medicinal marijuana to persons with a doctor’s prescription. In 2017, Oregon put in place a process so that businesses could apply for licenses to sell recreational marijuana.

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Business Loans

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

What is Rate Factor on Interest?

If you’re seeking funding options for your business, you’ve no doubt come across a few terms, such as rate factor or payment factor. And you’re not alone if you’re asking “what is payment factor” or “what is a factor rate?”Many people may not be familiar with these terms, especially if they haven’t sought business funding before.

To help clear things up, we’ve written this post to explain what these terms actually mean.

Categories
Business Loans

Small Business Funding Options: Best Funders for SMEs

What are the Different Options for Funding a Business?

It takes money to make money, and this couldn’t be more true than in business. Whether you’re building a company from scratch or you’ve been running it for years, having adequate capital is crucial. No matter how well your company performs, at some point, you’ll need to consider outside funding.

Before you start exploring your options, you need to do some research. Here are some of the essential things you need to know when it comes to small business funding.