How to Cover Short-Term Expenses of Your Restaurant. Everything You Need to Know About Small Business Lines of Credit. Best Financing Opportunities for Hospitality Industry in 2021. By Chris Harris Writer Delivering an outstanding customer experience is one of the primary goals for the hospitality industry.
Whether you want to build your dream hotel or your existing property needs a serious face-lift, the right business funding is essential in the hospitality industry. What is Hospitality Industry Financing? Hospitality financing is a type of loan product specially designed for helping businesses in the hospitality industry. These loans vary in size and structure, with different financing options for smaller hotels versus larger corporate hotel chains.
Best Types of Loans for the Hospitality Industry. Everything You Need to Notice About Personal Guarantee. When you apply for a traditional bank loan, a business line of credit, an SBA loan, or some other secured small business loan, you may have to pledge an asset as collateral to secure the funding.
In fact, many lenders will require you to sign a personal guarantee if your business lacks a perfect credit history. Though in the absence of a perfect credit score, good annual revenue, and a positive cash flow, a personal guarantee may increase your chances of obtaining a loan, you shouldn't race into marking it without first agreeing on what it involves. In this post, we’ll explain what is a personal guarantee and share some of the important things you need to know about it. Marine and Boat Loans: How to Get Fund for Watercraft in 2021.
4 Best Small Business Loans For Breweries And Bars. Need extra working capital to set up your new bar, brewery, or distillery or take your established beverage business to the next level?
Well, a brewery and bar loan can help you. Whether you want to buy a property to create your craft beverages, purchase new equipment for your newly established bar, expand location to increase business, hire skilled brewers and distillers, market your brand or simply need cash to cover daily operational expenses, there are bar and brewery loan options to meet your needs. Let’s explore the top four financing options so you can compare and choose the program the best fits your current financial needs. SBA Loans For Bars and Breweries Small Business Administration is one of the most flexible and affordable financing options for bar and brewery owners as it offers the most competitive interest rates and repayment terms.
With an SBA Express Loan, you can get an amount of up to $350,000 with a repayment term of up to 10 years. Don’t fret! How to Finance Your First Coffee Shop Business. Are You Doing SMAC? Small business accountants are becoming more tech savvy.
So are the clients they serve. It’s not a perfect transition, but it’s happening. How Business Advisory Services Add Value for SMEs. Just as the average small business may not fully understand cash flow, many small to medium-sized accounting firms fall into the trap of thinking that small business clients are focused more on price than value.
Mark Wickersham, author of Effective Pricing for Accountants, argues that if a small to medium-sized enterprise (SME) client thinks you’re charging too much — the issue isn’t price. The problem is that the business isn’t seeing or understanding the value of what you’re providing. It may seem like mere semantics. But, as advocates for clarity that builds the bottom line, at Smansha, we think the distinction between value and price is as important as knowing the difference between cash flow and profit.
How to Help SMEs Avoid Cash Flow Mistakes. Cash flow mistakes are nothing short of a killer for small businesses.
As a financial professional, you know cash flow rules everything, and determines whether your clients are able to pay their vendors and loans. It determines whether they can invest in more inventory or better equipment, make payroll, and more. At PayPie, we provide data analytics on cash flow exactly so business owners can avoid cash flow mistakes. And, along with data, there are lots of things that entrepreneurs can incorporate into their daily financial diet to make sure they don’t make those cash flow mistakes. Want to help your clients avoid the biggest headaches (and do better than that meager 27-day cash buffer most entrepreneurs have)? 1. How to Offer Consulting Services to Your Clients. You may have cut your teeth working for a firm, or even a boutique shop or partnership.
Now, however, you’re considering striking out on your own to offer consulting services in your area of expertise. Parts of consulting can be precarious, sure – but the satisfaction of working for yourself is unparalleled. Smansha, an advanced SME cash flow management software that provide tools to help financial services consultants – including accountants, bookkeepers, and other advisors – get a leg up on the competition, and deliver huge value to potential and existing clients. That’s all to say that we have a strong perspective on what makes a good consultant.
As you gear up to start your solo practice and offer consulting services, consider these points. 1. Many people fancy themselves consultants in this atmosphere, but just being able to dabble in work when you find it doesn’t an effective consultant make. Onboarding Clients on Cash Flow Consulting. Approaching clients about new service offerings can be easier said than done, so understanding the core value behind your offerings is crucial for reaching a successful outcome.
Things are no different in for having “the talk” about cash flow consulting services, so we made this quick guide to make your life easier when on-boarding clients to new ways of improving their business’ financial health. Getting Started It’s probably best to start by having a clear picture of what cash flow consulting really means. Overall, it means guiding clients on what they are doing right and what they are doing wrong to maintain a healthy cash inflow and outflow balance in the short, mid and long terms.
This can translate into going through cash in and cash out data, AR and AP, payroll, bank feeds, financial statements, expenses, and revenue. Right, you are very used to going over these data points, nothing new there. The Hands-on Approach Data-Driven Decisions. 4 Tips on How to Offer Cash Flow Advisory to Clients. If you’re looking to grow and diversify your accounting business, adding cash flow advisory service to your financial toolkit can be a game-changing alternative.
Cash flow is the lifeblood of a business. That is pretty well-establish in the entrepreneurial scene, but there are still many gaps in understanding and managing cash flow. Poor cash flow is one of the biggest reasons why half of all small businesses don’t survive past the 5th year. Nearly 2 in 3 (64%) of small business owners in Canada were cash flow negative in October 2019, according to recent stats shared by Intuit. The concern and fear about money flowing out of business faster than coming in can keep thousands of business owners, CEOs, and managers awake at night. Get Started with Cash Flow Consulting in Smansha. The SME sector is by far the biggest contributor to Canada’s economy.
There are almost 1.1 million small and medium-sized businesses in Canada, which employed 89.6% of workers in 2017 and served as the backbone of the Canadian economy. Despite accounting for such a high percentage of the business environment, SMEs have their own challenges to face. Specific issues revolving around attracting customers, generating revenue, developing a skilled workforce, and collecting payment have been of special concern to SMEs for decades. How to Assure a Small Business Loan Using Inventory As Collateral.
How Invoice Financing Can Boost Your Small Business Growth. For small businesses growing at a stable rate and in need of capital, invoice financing can offer a great solution to their problems. Invoice financing helps entrepreneurs struggling with cash flow issues, cover various short-term expenses promptly and use the extra cash to take advantage of more opportunities. Besides, it’s fast, easy and flexible than many of its financing counterparts, that’s why it’s becoming one of the most sought after funding option for small businesses. How an Online Funding Marketplace will help you get Small Business loans Faster. By Chris Harris Writer. Top Approaches for Restructuring Your Small Business Debt. Are you struggling to repay your current business debt?
Are cash flow problems making it difficult to pay off your obligations that you had planned? Well, if it’s the case, you’re not alone. eCommerce Financing for Online Sellers: Everything Should to Know. The world of eCommerce is booming more than ever. According to an Adobe report released last year revealed that “eCommerce growth has been accelerated by 4-6 years”. But with the growth of the online retail businesses, the number of competitors is also increasing simultaneously. It’s never been more important to grow your online store with innovative products and new customers to boost profit and cash flow.
Without sufficient money though, it’s difficult to accomplish. Guide to Rebuilding Your Financial Advisory/Accounting Business after the Pandemic. At the beginning of 2020, many financial advisors were excited for a laid-back busy season after successfully dealing and improving the financial health of their clients. 5 Amazing Ideas to Keep Your CPA Firm Culture While Working Remotely. Whether you like it or not, remote work is the new normal and is here to stay even after the pandemic. As accountants are making transition to remote work and leveraging modern technologies to tackle different tasks from the comfort of their homes, many are wondering how to develop, maintain, and strengthen a CPA firm culture in a time of disruption.
A Guide to Compare & Choose the Best Small Business Loan Offers. How Accountants Helped Small Businesses Apply for Millions of Dollars in PPP Loans. Even after having a rocky start, the Paycheck Protection Program has been hugely popular among accountants to secure funding for their clients. Smansha, a provider of cash flow forecasting and financing marketplace started partnering with accountants in early April 2020 to help them secure PPP loans for their clients so they can weather the economic challenges brought on by the COVID-19 pandemic.
Smansha was able to quickly engineer loan platform to accept PPP applications from accountants through SBA was coming out almost on a daily basis with constantly changing guidance that has to be incorporated in the application. How to Get Small Business Loans with Bad Credit in 2020. 5 Financial Technologies You Should Embrace to Become a Financial Expert of the Future. From communication and transportation to health and entertainment, technology has dramatically disrupted several industries and businesses over the past few years. 7 Skills Businesses Need to Succeed in a Post-Pandemic World. Simple Things to Know While Taking Private Business Loan during the Pandemic. Given the weak cash flow position during the COVID situation due to steady sales velocity and anemic financial opportunities, companies must restructure their financial strategies.
Mechanisms, like availability of loans, a revival of monetary arrangements, rescheduling of cash flow, an extension of loan tenor etc., can safeguard the companies from the problems created during this phase. How to Help Your Clients With Advisory Services During Challenging Times. You’ve probably heard the saying, “A friend in need is a friend indeed.” Which is Right for Your Business: Either Buying or Leasing Equipment? 5 Pointers Aspiring Entrepreneurs Should Notice Before Opening a New Venture. 5 Main Financial Tips Should Be Follow by Business Owners.
Primary Objection Financial Advisors Are Facing Now a Days and How to Resolve Them. Invoice Factoring vs. Bank Line Of Credit – Why picking Factoring? Startup Funding: Apply for a Startup Business Loan. Merchant Cash Advance Convenient Funding Program. Consider a Business Credit Card. Smansha for Asset-based Lending. Get the Financing to Start or Grow Your Franchise.
Smansha’s AR Financing is customized. Small Business Equipment Financing. Business Line of Credit. Term Loans by Smansha. Online Cash Flow Management Software. Small Business Financing Options Based on Cash Flow Forecasting.