MDH - Accountancy & Business Growth Specialists’ Post

"Term loan or line of credit—what's the right choice for your small business? 💼 Our latest article breaks down the key differences, benefits, and how to decide which option fits your needs. Check it out! https://lnkd.in/gjdyFqJj #smallbusiness #termloan #lineofcredit

"Turn your business dreams into reality with a business loan💼 Never underestimate what a boost in finances can do! It can provide the inventory expansion📦, marketing resources📈, and workforce💪 you need to take your brand to the next level🚀 Ready to make your mark? Chase your dreams, conquer your goals, and make your small business BIG!🌐 #BusinessGoals #PowerOfFinance💰 #ChaseYourDreams🌟"

Getting financing for your small business can be a challenge, but having a good credit score can make it easier. Your credit score is one of the factors lenders consider when you apply for business credit score, line of credit or a business loan. For most small business owners, their personal credit will be a factor in obtaining business credit, especially when the business is relatively new. A higher credit score can help you qualify for business credit at lower interest rates. Here’s a closer look at what your personal credit score measures, how it affects your ability to get business credit, and what can you do to improve your credit score. https://bit.ly/4bu9Py8 #GoodCreditScore #FICOScore #BusinessFinancialStanding

🔔 Attention small business owners! 🔔 Did you know your small business loan could impact your personal credit score? It's a crucial topic that many entrepreneurs overlook. Banks and lending institutions sometimes report loan activities to personal credit bureaus depending on the loan type, agreement, and business structure. If your small business loan is reported and you make timely repayments, it could positively affect your personal credit score. Conversely, late or missed payments could harm your credit standing. Understanding the fine print in your loan agreement and knowing how your business structure affects your personal liability is essential. This knowledge can significantly impact your financial health and future. Have you experienced your small business loan affecting your personal credit? Share your stories and insights! #SmallBusiness #CreditScore #Finance

Practical Tips "5 Steps to Prepare for Your Next Business Loan Application 📝 Applying for a business loan? Preparation is key. Here’s how to set yourself up for success: 1️⃣ Get your financials in order: Up-to-date statements build lender confidence. 2️⃣ Know your numbers: Be ready to explain your revenue, profit margins, and cash flow. 3️⃣ Define your purpose: Clearly outline how the funds will be used. 4️⃣ Check your credit: Personal and business credit scores matter—know where you stand. 5️⃣ Explore your options: Different loans suit different needs; research before committing. The better prepared you are, the smoother the process will be. If you’re not sure where to start, let’s connect—I’m here to help! #BusinessLoans #FundingTips #FinancialPlanning #SmallBusinessSupport"

What will you do when you transition your business? When you transition your business, will you sell your SSN with the business? What? Of course, you can’t do that, but what would you do with any personal loans against the business that haven’t been paid off when you make the sale? Will the buyer of your business take on your personal loans at the sale? Highly unlikely! You will have to pay off any open personal loans for the business from any profits you make on the sale. This is another reason why building business credit’s so important. You will not own the business forever. At some point, a transition will have to be made. A solid business profile can build the value of your business in two ways. 1. You will have access to the money you need when you need it, so you will not only survive but thrive! 2. If you have a robust business credit record on your EIN, the buyer will have access to that same profile, thus making your business much more valuable to the buyer. Listen to this two-minute clip from my esteemed partner Lindsay Pennington, as she explains why business credit is America's most underutilized business tool. Thanks to the legendary Lance F. for being an outstanding host and offering a stage and a microphone so that we could help level the playing field for small business owners! #businessowners #smallbusiness #credit

Small business owners—did you know you can apply for an SBA loan without impacting your credit score? 💼 Read how NEWITY offers a simple and streamlined process to access funding without the worry of a hard credit check. Read more to see how it works and get started today! https://buff.ly/3NevSPj #smallbusinessloans #sba #sba7a #newity

📊 Thinking of applying for a business loan? Here’s what you need to know! Lenders usually ask for two key financial reports: a Profit & Loss statement and a Balance Sheet. While most of us know the P&L shows income and expenses, the Balance Sheet often gets overlooked. So, what is a Balance Sheet? It’s a snapshot of your business’s financial health at any given time. It shows what your business owns (assets), what it owes (liabilities), and the net worth (equity). In short, it tells the story of your company’s stability and strength. Keeping these reports organized can make a huge difference when it’s time to secure funding. Don’t let disorganized finances hold back your business growth! #BusinessLoans #FinancialReports #SmallBusinessTips #BusinessGrowth #FinancialHealth

If you’re wondering what it takes to qualify for a business loan, BNZ’s Small Business Partner Gajan Balakrishnan G FIN is here to help! Eligibility for a business loan depends on several factors, like your business’ financial health, credit history, and the purpose of the loan. Generally, we will review your business’ financial statements, tax returns, and business plan. If your business is relatively new, your personal credit score may play a larger role. Small Business Partners can guide you through the process and help make sure you have the information you need to improve your chances of approval. Have more questions? Let us know in the comments. 

At BNZ, we are committed to helping New Zealand businesses thrive. Our Small Business Partners work alongside customers, offering tailored advice and support to help them achieve their goals. If you’re looking for insights or support for your business, I’d love to connect and explore how our team can help. #BNZ #smallbusiness #businessgrowth Adam Martin Charlotte (Charlie) Noble-Beasley Figo Liu Gajan Balakrishnan G FIN