If you are a small business owner who has ever thought about growing your operations with a loan, one important financial metric you will need to be aware of is your Debt Service Coverage Ratio (DSCR). Calculating this ratio can sound intimidating, but it is a crucial step to understanding your financial health and your […]
Having a strong understanding of your business credit score (and how it works) is crucial to understanding your financing options. Your credit score not only reflects the financial health of your business, but it can also give you access to more favorable loan rates and other types of financing. However, if your credit score is […]
A strategic mix of digital marketing strategies is important for any business looking to grow its customer base and increase brand awareness. Whether or not your business is based online or from a brick-and-mortar storefront, audiences today prefer to start their decision-making journeys online. Data from Salesforce shows that at least 87% of customers start their search […]
At Backabl, we believe efforts to support diversity and inclusion create environments where people thrive, local economies grow, and new ideas blossom. Whether it’s chasing growth or challenging adversity, we support LGBTQI+ individuals and businesses during Pride Month and beyond. Like many socially disadvantaged groups, LGBTQI+ entrepreneurs can face unique challenges in establishing and growing […]
Each year, the U.S. Small Business Administration (SBA) coordinates National Small Business Week (NSBW), a celebration of America’s millions of small business owners who provide the foundation for our strong and growing economy. Throughout the week, the SBA will host: Local events Awards ceremonies Virtual lessons Virtual workshops A national bus tour When is National Small […]
Each tax season, knowing how to maximize your tax deductions—and minimize your taxable income—is a great way to help your small business thrive. But waiting until tax season to comb through your receipts and categorize your expenses can be a huge headache. The best way to make tax season a breeze is to have great […]
Gaining access to necessary capital to thrive as an entrepreneur is vital to fulfilling the fabled “American Dream.” It’s also the core of what Backabl stands for — making it faster and easier than ever before to secure funding from lenders who give back to the communities they are part of. But throughout America’s history, […]