Canyonhill Advances, a small-business funding service in Mankato, Minnesota, publishes articles for local owners on financing a dental practice purchase, working capital for painting contractors, auto body shop financing and the choice between a term loan and a line of credit, plus short notes on business credit and cash flow forecasts.
Buying a dental practice near Mankato, MN
Dental practice acquisition financing: what a buyer pays for, the records a partner reads, and working capital for the first months after the sale.
Carrying a paint crew between jobs
Working capital for painting contractors: sizing the payroll gap while builders pay, with a week-by-week example.
Paint booths, frame machines and body shop payroll
Auto body shop financing: equipment for collision repair, car wash funding and the insurance payment cycle.
Term loan vs line of credit for a Mankato, MN expense
Term loan vs line of credit: which one fits which expense, compared side by side.
How to build business credit with an EIN
An Employer Identification Number lets a business open accounts in its own name. Business credit builds as the business opens trade accounts with suppliers that report payments, pays them on time, and keeps its legal name and address consistent everywhere. A business bank account and a business card in the company's name help separate business and personal histories.
How to do a cash flow forecast
- Start with the opening bank balance.
- Week by week, write down the money due in: customer invoices, card settlements and deposits.
- Beside it, write down the money due out each week: wages, rent, supplier bills, existing loan payments and taxes.
- Carry the closing balance forward each week.
- Mark the week with the smallest balance; that is the gap to fund or to fix.
Business credit score range: what Mankato, MN owners should know
Business credit bureaus each use their own scoring scale, so a number from one cannot be compared directly with a number from another. Partners may look at business scores, the owner's personal credit, or both. Ask each partner which reports it uses.
Construction cash flow forecast
For a contractor, build the forecast job by job: each job's costs by week, its draw or invoice dates, retainage held, and the expected payment dates. Add overhead on top. The weeks where costs run ahead of payments show the funding the jobs need.
By Canyonhill Advances · Updated