What is loan principal? When you get a loan, the money you borrow is called the principal. The principal is the amount of money that you owe to the lender. In addition to paying back the principal, you will also have to pay interest on the loan. The interest is what the lender charges for…
Business Contingency Plan No one likes to think about disasters, but they can and do happen. That’s why having a contingency plan for your business is important. The definition of contingency planning is a course of action you will take in the event of a disaster. It should cover everything from natural disasters to power…
Outsourced Bookkeeping Services A small business owner should always look for ways to save money, and outsourcing certain services is one way. For example, outsourced bookkeeping services, payroll, and office administration services are becoming increasingly popular as businesses find that they can get the same quality of service at a fraction of the cost. These…
Everything You Need To Know About Delinquent Loans The article is an introduction to how delinquent loans work. It provides some tips and advice for consumers struggling with their delinquent loan payments, including some information about the consequences of defaulting. The delinquency rate for student loans has been on the rise. When students default, it…
Cross Collateralization Cross collateralization is a relatively new term in the world of secured loans. It is similar to collateralized loans, but with one key difference: the personal assets used as security for the loan are spread across multiple loans. This means that if you default on one loan, the loan specialists have the legal…
Effective Business Cash Flow Management For a small business, managing cash flow is often the difference between success and failure. There are a number of ways to effectively manage your business’s cash flow, from using business software to implementing specific techniques and tips. In this article, we’ll explore some of the best methods for managing…
Amortization vs. Simple Interest Loan The choice of amortization vs simple interest loan might not be the most exciting thing you think about when paying for a car, but it is important. Your loan type will affect your monthly payment, how much interest you pay over the life of the loan, and even the total…
Separating Your Personal and Business Finances You can separate your personal and business finances by using several options, including splitting the difference between what you owe to cover your personal and business expenses. You could also use an online service like Mint to track your transactions, making it easier for you to stay on top…
Importance of Government Regulations All companies must adhere to federal, state, and local statutes, necessitating government regulations on business. Regulatory bodies enforce these regulations at the legislative level. Some of these regulations impact how a company reports their income or pays taxes, while others regulate how they dispose of their excess materials or waste. Regulations…
What are debit card processing fees? Debit card processing fees refer to the fees charged by payment processors, banks, and card companies (Visa, Mastercard, etc.) when a customer pays with a debit card. These fees typically include the following: These fees may vary depending on the size of the bank that issued the card, the…
