Before you become a director or an officer of a corporation, read this!
It can be an exciting opportunity to join a corporation as a director or an officer. It might be appealing to put a prestigious role on your resume, to take on a new learning experience, to be compensated for your contributions to a company, to build connections with others in the business community, and to […]
How do I ensure that my independent contractors are not my employees?
As a business owner, you might prefer to hire independent contractors instead of employees so you can receive services as needed without having to provide your contractors with employment benefits. This manner of contracting for services can be beneficial, but if you do not have a proper agreement in place and if you do not […]
Empowering Your Corporation: Options for Business Financing
A loan is secured when the borrower puts up an asset (or assets) of value as collateral, which you, as the creditor, can seize if the borrower does not repay your loan. The bigger the loan, the more collateral you will need to secure it. A loan can be secured in many ways, including: a […]
Should I loan the purchase price to the buyer of my business?
In our last blog, “Should I accept financing from the seller to buy my business?”, we discussed some of the pros and cons of a buyer accepting vendor financing. This blog, on the flip side, discusses the pros and cons of vendor financing for the seller. Benefits of vendor financing for the seller: Reduced delays. […]
Should I accept financing from the seller to buy my business?
If you would like to buy a business but are having difficulty securing a traditional loan from a bank or credit union, you might consider negotiating with the seller for vendor financing. Vendor financing is an arrangement where the seller agrees to loan some or all of the purchase price to the buyer, and it […]