Business Finance

Most entrepreneurs wish they had taken a business finance class in school. Finance can be the fine tuning a business needs to improve efficiency and profitability. Many business owners know their trade or the technical part to operating their business. What most small business owners don’t know is what the historical numbers can do to help them prepared for the future.

I also find that business owners want the loan to fund rather than the right loan. What many of these owners don’t understand is that a business loan can put you out of business if it is not the right loan. I heard one company switched from a 4% APR line of credit to a 3.25% factoring solution. This client will turn his receivables every 20 days making the effective rate for his factoring a 58.5% APR. This is another prime example of business owners being taken advantage by bankers in the industry.

If you are not strong in business finance there are probably some things you are missing within your business. There are experts available to assist you. Take the time to get one on your side. An expert can help you find the shortcuts in business finance and navigate you to greater profits and success.

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