Traditionally, businesses have handled risk by transferring it to an insurance company by purchasing an insurance policy or by retaining the risk themselves and allocating funds into an escrow account to meet expected losses. This arrangement is commonly known as “self-insurance.”
One of the essentials for a healthy business is a supply chain management system unencumbered by debt. But building and maintaining a supply chain to run smoothly can be quite difficult, particularly if there are no best practices for managing costs and procurement. Sadly, businesses too often focus primarily on managing their key supplier relationships and often ignore important internal structural issues involving the debt that their supply chain management system will accrue.
When business owners find it difficult to make their monthly payments to multiple creditors, they turn to debt consolidation as a viable solution. Although it may not be suitable for everyone, consolidating debt has several benefits that you should keep in mind when you're exploring different financial options for your business.
Refinancing a business loan has many benefits, such as decreasing the amount you pay in interest. But like any other type of financing option, not only do you need to carefully assess the pros and cons of making this decision for your business, but you also have to meet the requirements in order to take that step.
When you’re looking to obtain a small-business loan, the first thing that probably comes to mind is: “If a bank rejects my application, I don’t have any other options.” But this couldn’t be further from the truth. There are plenty of other lenders who will provide you a loan so your business can grow.
Years ago if you were seeking a small business loan, going to a bank was often the only choice you had. Well, times have changed. These days business owners have more options, because an array of alternative lenders can provide them the same, if not better, financing services.
Whenever you’re trying to receive any kind of loan, your credit score is typically brought up at some point during the application process. Obtaining a business debt consolidation loan is no different. But it doesn’t mean that business owners with bad credit are automatically turned away.
The insurance industry is a cyclical business that adapts to the nature of the marketplace. The key to predicting and exploiting industry trends is in understanding the business cycle and using that knowledge as leverage when making important company decisions. These emerging insurance company trends show that growth is possible for those companies willing to adapt.