Fed holds interest rates steady, postponing rate cuts amid stubborn inflation The Federal Reserve held interest rates steady on Wednesday, opting to keep rates highly elevated as progress toward lower inflation has stalled. The move pushes back rate cuts that the central bank expects to make sometime this year. But the Fed stuck to […]
An inability to procure new equipment, the labor shortage, and the ongoing Driver Inc. business model are the top issues facing fleet executives, according to a new Nanos survey. “It’s been a couple of years that we have been recruiting abroad, and it hasn’t gotten easier; it’s actually been harder. We’ve been waiting for applications […]
Purchasing new equipment can be a big investment, no matter the business size. Fortunately, there are options to consider when you’re in need of a new machine. The best way to move forward is to take time examining your financial options—it will benefit your bank account in the short and long term. Renting, Financing & […]
The majority (78%) of U.S. businesses of all sizes – from small entrepreneurs to Fortune 100 companies – in all industries – from construction to healthcare – lease or finance their equipment. Here are some reasons why top companies finance their equipment: Finance 100%: arrange 100% financing of your equipment, software, and service with 0% […]
What is the Section 179 Deduction? Most people think the Section 179 deduction is some mysterious or complicated tax code. It really isn’t, as you will see below. Essentially, Section 179 of the IRS tax code allows businesses to deduct the full purchase price of qualifying equipment and/or software purchased or financed during the tax […]
Entrepreneurs often have a hard time securing a startup business loan. A new business venture is just too risky for most traditional banks. But there are lenders willing to offer small-business loans to a fledgling startup, including alternative lenders and microlenders, as well as other funding options for scrappy entrepreneurs. Keep in mind: If […]
Now That PPP Lending Has Ended, Biz2Credit Small Business Lending Index Finds May 2021 Loan Approval Rates Increase for Banks and Non-Bank Lenders Small business loan approval percentages at big banks ($10 billion+ in assets) climbed slightly from 13.4% in April to 13.5% in May 2021, however, small banks’ approvals jumped higher from 18.2% in April, to 18.7% in May. “Loan approvals […]
The U.S. Small Business Administration (SBA) has stopped accepting new Paycheck Protection Program (PPP) applications from most lenders almost a full month before the $292 billion program’s application deadline. The SBA informed lenders Tuesday afternoon that the PPP general fund was out of money and that the only remaining funds available for new applications are […]
Keep an eye on these small business trends and predictions for 2021: Lending programs related to COVID-19 will be key, but they are not sufficient. Alternative sources of funding will be needed as well to meet business owners’ capital needs in 2021. Digital marketing spend is likely to increase, as traditional marketing and PR gets […]
Obtaining a loan for your small business is a great way to boost investment and even grow your business when the time is ripe. You might have heard some grumblings about small business loans: they are hard to obtain; your credit has to be flawless; don’t ask for too much money or you’ll be denied. […]