We’ve all had a certain kind of phone call: a firm, hopefully polite request to remit payment for some or other expense. It’s never fun to receive a request for payment, and for many small business owners, the discomfort around collections extends to situations where businesses need to collect unpaid invoices that may be piling […]
When a business is not paid for weeks after a sale, it is effectively providing short-term financing to their customers, something called “trade credit.” This type of credit can be valuable for small businesses, but the maintenance of timely payment relationships between businesses and their suppliers takes time to achieve and must be managed carefully. […]
Rules for mortgage applications will be set to tighten, Finance Minister Bill Morneau announced Friday – including the establishment of longer term stress tests on the finances of prospective borrowers, designed to insulate against changing interest rates. The changes have triggered a secondary flurry of discussion about alternative lending and its role in the marketplace. […]
For businesses that are paid based on invoices sent for delivered goods or services, payment delays are bound to happen. In a small business climate where cash flow can become tight especially depending on business volume, late payments can have a dramatic effect on small business success. And it’s not just about cash flow: late payments […]
There are a multitude of small business financing options, but most of them break down into two categories: financing by debt or equity. In debt financing, businesses take out loans to fund their development, with the main cost being associated with the interest accrued on those loans. The advantages of debt financing are mainly that: […]
Taking out a business loan to cover the costs of an existing loan, or to add to the amount of capital you can borrow, may sound like a relatively simple proposition at first. You’re simply doing what many consumers do when it comes to their credit cards and other bills – shifting a financial issue in […]
There are few things that simply can’t be advertised for on Google AdWords. The no-go list is short, and includes guns, drugs, explicit content, and any kind of counterfeit or phishing site. Just yesterday, Google added a new stricture to its advertising policy: no more payday loans. In a statement by David Graff, Director of […]
Just like a personal relationship, a great lending relationship takes time to build. It depends on compatibility between the people involved, and it’s not always straightforward. Relationship lending is improving access to funding for small businesses while building support for local economies – and generating unique types of data and information that can benefit the […]
Your intrepid blogger is feeling a bit rough this morning, having competed in his first ever fencing tournament. Yes, fencing: with the white suits and the swords… don’t ask how I got myself started in it, but it’s ended up being one of the more interesting athletic pursuits I’ve undertaken. Aside from a collection of bruises […]
Note: This Blog Originally Appeared at the UrLoan.com blog. Would you sign up for a loan from your text message service or favourite social network? That’s the question that China’s Tencent Inc, makers of the popular WeChat messaging app, are asking users with their introduction of a new feature called Weilidai — which literally means […]
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