Oilfield Loans Blog

Building Your Business Credit Score

September 30, 2011

Your credit score represents your credit worthiness, which comes to play if you need a bank loan or other financing services. Whenever customers apply for a credit card, get a loan or take out a line of credit; creditors most likely review their credit report to determine whether they're a good or bad credit risk. A higher score indicates the customer is more likely to pay on time and continue paying until the loan is paid.

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4 Tricks to Get Clients to Pay on Time

September 23, 2011

One of the more difficult tasks of owning a business is chasing down late payments. A business needs to have cash to make payroll and pay expenses. One way to deal with this is to look into a bank loan, but that adds debt. With some foresight and planning, it's possible to reduce late payments.

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There Will Be Oil

September 21, 2011

Before you read The New York Times article, see if you can guess the answer to this question. What year saw the highest gasoline prices (adjusted for infation) ever recorded in the US? That year was so bad that the US instituted "Gasolineless Sundays" to encourage people to drive less.

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Small Business Needs More Cash Upfront

September 16, 2011

I like this The Globe and Mail article because it explains how a successful small business can find itself struggling with cash flow as it takes on more and bigger projects. The company in the story is an event management business with nine employees and a 2010 revenue of $2.7 million.

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One Bank Reveals the Story behind Small Business Loans

September 13, 2011

You've probably heard from sources like FDIC that for the first time in three years, bank lending increased. However, bank loans to small business keep dropping. Yet, one bank boasts that its lending to small- and medium-sized business has gone up higher than the industry average of less than a 3 percent increase.

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Are You Managing Your Business Expenses?

September 12, 2011

One of the more popular tips given for managing mail is to trash, file or take action as soon as you pick it up. The same applies to business expenses. Come tax time, you'll be ready and have less to do when you track expenses as they come in instead of letting them pile up and then trying to pull it together.

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Avoid Overdraft, Late Fees and Low Cash Flow with Automation

September 02, 2011

In 2007, Mint.com launched to help people manage their financial accounts in one place online and on mobile devices. Users value the service because it supports their budgeting and planning efforts.

Mint grew its customer base to over six million users. Since then, Intuit acquired Mint. Despite all these resources, customers needed one critical feature to avoid fees – bill reminders. Mint reports that its users spend $5 million a month paying bank fees. That's a lot of cash flow.

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6 More Ways to Improve Cash Flow

September 01, 2011

One of the most challenging aspects of running a business is managing cash flow. Thanks to climbing costs, this is especially true today. A business owner can do a great job in consistently maintaining the money deposited into the bank account and paying expenses and employees. Yet, it can run into something like a damaged roof that can throw cash flow out of sync.

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How to Take Care of Cash Flow

August 26, 2011

A profitable company can fail simply because it doesn't have enough cash. Often, the cause isn't striking a balance between what comes into the business and what goes out of the business. A profitable company can fail because it has to continue paying employees, bills and vendors in spite of not enough cash coming or fast enough.

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News: Big Banks Shrinking as S.B.A. Lenders

August 26, 2011

As you read this article, you'll notice no mention of increased loan flexibility to small and medium sized companies. If you're struggling to get a loan from a bank or they're taking too long to reply, please contact us for Plan B ideas. 

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