Many people only have one retirement account (if any): their employer’s 401(k). These accounts are critical to most people’s retirement savings, but savers have little control over how the accounts are managed. There are only so many ways they can choose to invest their retirement funds. Naturally, some people will want to be more involved in the management of such an important asset.

Most people keep track of their personal credit score to ensure they’re eligible for home or auto loans, lower interest rates and more. But did you know that businesses can also have credit scores? Failing to pay attention to your small business credit score could be detrimental to your company’s growth over time.

When starting your small business, you’ve budgeted for your location, equipment, inventory, working capital and more. But did you factor in the foundations of a cash reserve?

A cash reserve is a crucial aspect of business that entrepreneurs tend to forget. Also referred to as a “rainy day fund,” this pool of cash can be critical in carrying your business through difficult financial periods.

If you’re planning to open a secured or unsecured line of credit for your small business, make sure to avoid these common and completely avoidable credit mistakes.

One of the most common SBA loans distributed to small business owners is the SBA 7(a) loan. By guaranteeing a portion of the loan, the SBA incentivizes local and national banks to offer loans to aspiring business owners for lower interest rates and more favorable terms. There are many advantages to utilizing the 7(a) loan program over more traditional bank loans. Here are a few of the biggest.

Small businesses are feeling the strain of higher interest rates after the Federal Reserve’s decision to raise rates on March 23, 2023. Over the past 12 months, the Fed has been gradually increasing interest rates, and the Wall Street Journal Prime Rate is now at 8%. This benchmark rate is significant, as many loans, including SBA small business loans, are tied to it. Let’s explore the effects of interest rate increases on small businesses and how Tenet Financial Group’s ROBS program can help.