The arrival of summer brings a host of challenges for small businesses. Whether it’s due to customers going on vacations, the heat reducing foot traffic, or a shift in spending priorities, many small businesses experience a noticeable dip in sales during the warmer months. However, with the right strategies, you can survive the summer lull...Read More

Preparing for economic downturns is crucial for small businesses to navigate challenges, maintain stability, and emerge stronger on the other side. Here are strategies to help small enterprises to build resilience during economic downturns: 1. Financial Planning:    – Create a Contingency Fund: Save a portion of profits in a contingency fund to cover unexpected...Read More

American Finasco developed a National Network of Attorneys in 1988 when it became apparent that most of our clients could not afford to hire an attorney. Our network offers several benefits to business dealing with debt-related issues.  American Finasco’s attorney network gives our clients access to legal professionals who specialize in debt collection. This is...Read More

Third-party financial intervention can be advantageous for a struggling small business in several scenarios. Here are just a few circumstances where American Finasco can assist: Debt restructuring and negotiation: If a small business is burdened with significant debt and struggling to meet its financial obligations, we can help with debt restructuring. This involves renegotiating loan...Read More

Short-term debt Also known as current liabilities, a company’s financial obligations are expected to be paid off within a year. Short-term debt is often used to finance day-to-day operating or unexpected expenses. The repayment period is short, usually 12 months or less, and requires higher monthly payments. Short-term debt may be a good option if...Read More

Short-term and long-term debt are two options businesses have for borrowing money. The main difference between the two is the repayment period. When deciding which type of debt to use, companies should consider the repayment period and the interest rate but understand both options entirely. Long-term debt Also called long-term liabilities, this is any financial...Read More

Owning your own business has many advantages. It can be extremely rewarding, and you are your own boss. It allows more independence and time for non-work activities, plus you do what you love!  But it also means you can never “take your eye off the ball” or walk away at closing and forget the business...Read More

Dissolving a company, or going out of business is a tough process. Even after a company closes, outstanding debt does not go away. This includes money owed to employees, landlords, suppliers, utilities, service providers, and even banks and private lenders. You can limit your liability by notifying creditors of your closure, but you still need to...Read More

If you own a small business without a dedicated bookkeeper or accountant, there’s a possibility you aren’t covering the basics. But it’s still early in the year, and there is time to put in place some best practices for an easier tax season.   Here’s what you SHOULD NOT do:   Let receipts pile up....Read More

There has been a major development in the online alternative lending industry, making it easier to get qualified and approved for business loans, debt resolution, and consolidation. However, this option has also opened doors to online scams, hackers, and fraud. The pandemic has increased this problematic activity making small businesses more vulnerable. Now, thieves are...Read More