Skip to main content



Business Credit Cards and How They Benefit Your Business

Business credit cards today provide many regular people opportunities to start their own companies by allowing them to borrow the funds that they may need, while separating business expenses from that of personal charges. What a lot of business owners don’t realize, however, is that the advantage of having a business credit card does not simply end in having an outlet for loans. It actually provides so much more benefits that could help the company become more organized, grow and even improve cash flow.

Convenient Source of Funds

There are times, especially when one is just starting out in business, wherein the company may need money for working capital or for other emergency expenses. Even if the business owner may not always readily have the funds at hand, having a business credit card account for the company can allow a convenient source of cash.

More Organized Financial Transactions and Record Keeping

When a lot of the company’s expenditures are done through credit, this helps the company in keeping track and organizing its expenditure. By having credit card companies automatically keep records of every transaction done through the account and having the business owner receive a monthly statement, the company’s work in monitoring expenses becomes less. This would especially benefit those businesses that often entail a lot of traveling and entertaining clients; as such situations may not always be practical to keep recording expenses. Most importantly, easier monitoring for accounting and tax transactions takes place.

Establishes Credibility

Using credit cards for the business can give the impression of a more reliable method of payment, and this may even make a small business seem more legitimate. The use of these business credits also helps establish a company’s business credit rating, which may assist in building a trust-worthy reputation for future investors as well as customers.

Gives Security

A certain degree of protection is given to business owners through purchasing items for the company with business credit cards, which payments through cash or other methods cannot offer. This is very important for companies that often involve traveling to foreign places because a lot of credit cards are recognized internationally. The same type of security is also important for businesses that may require much purchasing or selling of goods because payments done through credit cards can assure the other party that there will always be money coming.

Gives Businesses Time Allowance

The use of credit cards in businesses gives companies a lot of time allowance to pay for their purchases, especially when they need the goods in large quantities. Time is then given to the owner to pay for the purchases, instead of having to give immediate payment that may not always be readily available.

Consumer Benefits

Business credits also offer a lot of perks to consumers that may cater to the many different needs of the company. Some of these bonuses may include airline mileage or cash back that one can take advantage of in doing business transactions and even save the company a lot of money.

Business owners today need to be practical and clever if they want their companies to stay afloat. Business credit cards provide companies a lot of opportunities that help in financial organization as well as save a lot of money.

By providing businesses a convenient source of funds, an easier record keeping, credibility, security, time allowance and a lot of other advantages, such credit cards truly benefit and help out the business owner in more ways than one.



Charles Colbert is a Managing Director of iSmallBiz and ismallbusinesscredit.com, a Financial Technology Platform that allows small business owners to obtain the best possible financing at the lowest possible cost.
Leveraging his experience & education, Charles currently partners with growth stage companies who are in need of creative financing solutions to help them grow.  In his efforts to help the small business community, Charles has also created video courses, webinars and articles to help educate entrepreneurs & CEO’s, and guide them to success. He can be reached by telephone at 973-991-4408 by email: charles@ismallbusinesscredit.com.

Website: www.ismallbusinesscredit.com
LinkedIn:  www.linkedin.com/in/ismallbiz
Facebook Fan Page: www.facebook.com/pages/Ismallbusinesscredit
Twitter: @ChazzScot

For your smartphone download our mobile funding app available for Android™ devices at no charge


Comments

Post a Comment

Popular posts from this blog

Secured vs. Unsecured Business Credit Cards: Which is Better?

Secured vs. Unsecured Business Credit Cards: Which is Better?                 Having a bad credit report can surely become a hindrance in establishing your business. Most likely, you will have difficulty in trying to persuade lenders to give you a business credit account, which can be very significant for your company. Without business credit for back up, you are placing your company at a very huge threat of running out of cash and even a possible stop in its operations. Your credit score may not be very constructive to your reputation, you may have very limited options –either you get an unsecured bad debt credit card or a secured credit card . In this article, let us know the difference between these two credit cards and how they can help your business, especially if you have bad credit. The Difference between a Secured and an Unsecured Credit Card A secured credit card would basically require you to have a security deposit in the bank before you can use it. This
1 comment
Read more

Get The Capital Your Business Needs in Canada

Since we launched iSmallBizCredit, by far the most frequent piece of feedback we received was: you need to make it possible for people outside the US to obtain working capital and business funding financing. Starting Tuesday February 20, 2018, iSmallBizCredit all in one merchant platform will be available for use by any business based in Canada. It’s an integrated payment processing and business lending platform that we offer in the US now. A payment processing and merchant account platform combined with the ability to obtain business financing within 24 hours. Thanks to our friends in Canada for helping us launch!!! We've been testing our service in Canada over the winter. In many ways, launching in Canada is a big step for us. At iSmallBizCredit, our extensive industry knowledge and technology has allowed us to revolutionize the alternative funding system, making working with us a seamless experience. We have one goal in mind which is to provide the best poss
1 comment
Read more

THE FLEXIBLE SOLUTION FOR SMALL BUSINESSES

THE FLEXIBLE FINANCING SOLUTION FOR SMALL BUSINESSES Financial Technology + Main Street = Growth WWW.ISMALLBUSINESSCREDIT.COM Volume 3, Number 1 iSmallBizCredit The Smart Choice in Business Financing Having access to funds at a moment’s notice can sometimes make the difference between a business’s success or failure. That’s why merchants love our Line of Credit. It gives them the flexibility to act fast. When opportunity comes knocking or there’s an unexpected expense, our Line of Credit offers 24 hour access to loan drafts. Merchants can qualify for line of credit amounts up to 725,000 with no collateral required. The initial line can be approved in less than a week with 24 hour turnaround on loan drafts after that. With this type of financing, your clients can have the freedom to draw funds as needed, paying interest only on the money they take. It Pays to Be Prepared Even without an immediate need, smar
Post a Comment
Read more