Four Tips to Qualify for Small Business Loans in Charlotte, NC

Below are five steps that you should take to qualify for a small business loan.

#1 Build Good Personal and Business Credit Scores

Personal credit scores reflect your ability to repay personal debts, such as a mortgage or car loan and credit cards. Small business lenders need a personal credit score because they want to learn how you manage your debt. The higher your score, the better are your chances of getting a loan.

One of the quickest ways to improve your personal credit score is paying bills on time and in full and disputing any inaccuracies in your report.

You can build good business credit by keeping public records clean and establishing trade lines.

You would require good personal credit and excellent business credit to get small business loans in Charlotte, NC, from banks or a government-backed SBA loan. However, online lenders may be more flexible with credit scores, emphasizing your track record and company’s cash flow instead.

#2 Develop a Strong Business Plan

Lenders would want to know how you plan to use the money and see that you have a strong ability to pay. They may ask for a business plan that includes the loan’s purpose and how you expect it to increase profits.

Your business plan should also include the following information:

Ï Business description

Ï Product or service details

Ï Industry analysis

Ï SWOT analysis

Ï Management team

Ï Operations plan

Ï Current and projected financials

Ï Sales and marketing strategy

Your business plan should clearly demonstrate that you won’t have cash flow problems to cover ongoing company expenses and the new loan payments. It will give lenders confidence in your business, and you would most likely get the required small business loans in Charlotte, NC.

#3 Get Your Legal and Financial Documents Ready

You need to do a lot of paperwork when you apply for small business loans in Charlotte, NC, from banks and other traditional lenders. Some of the legal and financial documents you must need are:

Ï Business license

Ï Articles of incorporation

Ï Personal and business income tax returns

Ï Personal and business bank statements

Ï Balance sheet and income statements

Ï Financial projections if you have a limited operating history

If you have strong business finances and a good credit score, some online lenders may provide you rates comparable to bank loans. They may even require fewer documents and offer faster underwriting.

#4 Provide Collateral

To qualify for small business loans in Charlotte, NC, you may need to produce collateral to back the loan. It’s a way lenders can recover their money if your business fails.

Some online lenders may not need collateral, though but would ask for a personal guarantee. Each lender has its own rules, so make sure you ask enough questions if you are clueless about what’s required.

If you don’t have collateral, unsecured business loans could be a better option.

Seven Best Hair Restoration Techniques

Hair restoration is a process of restoring hair to the areas of your head where balding or thinning has taken place. This process has been used to restore eyebrows and facial hairs. There are many requirements that you will need to meet so that you can undergo hair restoration treatment.

Always make sure to set a realistic goal because the procedure is not for everyone. If, in any case, you are completely bald, this procedure is not fit for you. You need some hair that will act as a donor for the transplant. There are many types of hair restoration techniques to choose from. Always consult your doctor for the best method.

Best Hair Restoration Techniques
The following are the seven best hair restoration techniques for hair loss;

FUE Technique
This hair restoration technique is one of the most used methods of hair restoration. FUE involves removing hair follicles from the back of your head and planting them in the affected areas. This technique is the most natural, and it does not leave you with scars.

The FUT Method
In the FUT method, the skin has to be cut so that hair follicles may be removed. The hair that was removed will then be transplanted to the affected areas of your head. This method will leave you with visible scars, which heals over time.

NeoGraft Hair Restoration Method
NeoGraft is an advanced FUE method. This technique is less invasive and uses automated tools. The technique reduces time, and you will feel very comfortable during and after the process.

A Healthy Balanced Diet
Your hair follicles need an excellent diet to survive. Always make sure to take a balanced diet so that your hair may not fall. Balanced diets help to get your body in a more natural state.

Micro-needling
This method is a natural and best way of treating hair loss. It is also used to treat scars and wrinkles. Micro-needling has been proved to be one of the best ways of treating hair loss problems.

Scalp Tension Reduction Device
Stress or any other physical stress can cause hair loss. If this stress continues for a long time, it can lead to inflamed scalp tissues. The scalp reduction instrument works like a massage. It helps in loosening and relaxation of the muscles. It is a perfect way of hair restoration because it reduces inflammation.

The scalp reduction device gives the best results. You will only spend ten minutes a day with a scalp reduction device, and you will see the results.

Smart PRP
Smart PRP is a non-surgical method. This technique involves the injection of platelet-rich plasma in your scalp to cause new hair growth. This process helps to increase the survival rate of your hair. This procedure will make your hair look thicker and natural.

Conclusion
Beverly Hills hair restoration is essential for people who are going through hair loss problems. There are many hair restoration procedures that you can use to treat hair loss. Some procedures are surgical, and others are not. Always do more research before settling for any process.

What is a merchant services cash discount program?

Credit card processing is slowly becoming expensive for merchants. It is the reason they are looking for avenues to reduce the expense. One such avenue is the cash discount merchant services. It offers incentives to customers to pay by check or cash, and allows business owners to offset the payment processing costs.

Cash discount program
Businesses use a cash discount program and offer discount to customers paying by check or cash, instead of paying using a debit or credit card.

Merchants incentivize by offering discount for the cash payments done to the customers and include a service fee. The cash payments are a way to offset the processing charges of the payment coming with card transactions.

How does it work for the merchant?

The merchant services cash discount program offers various benefits to the merchant such as:

Reduced fees- It is the obvious benefit that merchants get on adopting cash discount program. Their processing fees on cards get eliminated or reduced. Deciding not to process the cards implies avoiding paying for the services.
Reduction in chargebacks- With the card payments frequency reduction, the chargebacks also reduce. People or merchants can opt for the cash discount program, if they are struggling with high chargebacks number. Opting for the program of cash discount is a way or reducing the risk of continuing with the current rate.
Increase in cash payments- Customers commonly prefer using cards, but providing the customers a discount will certainly bring more cash payments. It also means faster access to funds as processing times for the merchant gets eliminated. The decrease in card payments reduces drastically the likelihood of fraud and cash is favored.
Increase purchases- The customers and merchants have alike benefits that it is best to consider adopting the cash discount program. It is good and may suit most businesses to see increase in purchases.
There are few enticing tricks of marketing than offering sales discounts on the prices marked. Customers also love saving money and when they get to save through cash discount, they appreciate it. Even if the saving is a small amount, it is enough for people to use this facility and there is the possibility of increasing additional purchases.

The popularity of the cash discount programs has given birth to different questions. For instance, the question regarding the legality of the credit card processing cash discount program has begun. Are there any states that prohibit credit card processing? Let us understand the credit card processing hereunder:

a. What is Credit Card Processing Cash Discount Program?
A cash discount is a benefit that is offered by a seller to a purchaser in exchange for making a payment before the due date. A cash discount is when the seller reduces the amount owed by the purchaser by a modest percent or a specific monetary amount.

Following we have explained in detail regarding the credit card processing:

Customers are rewarded with cash savings if they pay their bills within a particular time range.
A cash discount allows a seller to get her money faster than she would if she didn’t provide the reduction.
A vendor who gives a 2% reduction on an invoice due in thirty days if the customer pays within the first 10 days after receiving the billing is an example of a cash discount.
b. In Which States Is A Credit Card Processing Cash Discount Program Not Legal In?
Eleven states have seen the error of their ways. They have made it unlawful to engage in cash discount merchant services programs. Merchants are prohibited from imposing surcharges on credit card purchases in California, Colorado, New York, Oklahoma, Texas, Puerto Rico, Massachusetts, Florida, Kansas, and Connecticut. Minnesota bans a vendor of products or services that establishes and is responsible for its consumer credit card from charging a premium to a buyer who chooses to pay with that credit or debit card rather than cash, check, or other similar methods.

The PFP team believes that the majority of states that consider this unlawful will keep rising. All businesses, in our view, should avoid these types of initiatives and urge their customers to return to a no-surcharge setting, such as free lollipops or a give-back scheme.

Conclusion
Cash Discount Merchant Services Programs are currently illegal in 11 different countries around the world. The vendors, in the mentioned countries, should not use the cash discount programs at all. Other states in America are also imposing restrictions on the employment of cash discount programs. Many more states will declare the cash discount programs as illegal.