Jim Pendergast – altLINE

Utah Business Applications on the Rise After Rollout of New Business Registration System

Jim Pendergast — Fri, 10 Jan 2025 21:21:00 +0000

According to new Census Bureau data, Utah saw a higher-than-usual number of EIN applications in December 2024 with a 44% increase in business applications from November to December. Comparatively, the average change from November to December that Utah saw over the last 10 years was a 3% drop in applications. The 6,491 applications that the […]

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How to Get an LLC for Your Trucking Company

Jim Pendergast — Tue, 16 Jul 2024 12:10:44 +0000

When starting a trucking company, one of the most important things to consider is how you will register your business. For many, starting an LLC trucking company is the way to go—but first, you should understand how to get an LLC for your trucking business and what it means for your operations. In this guide, […]

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Staffing Agency KPIs for Recruiting, Client Satisfaction, and Business Performance

Jim Pendergast — Fri, 28 Jun 2024 19:24:44 +0000

In the highly competitive world of staffing agencies, performance measurement is a necessity. Key performance indicators (KPIs) can help you better understand the effectiveness of your staffing agency processes and satisfaction levels of your clients and employees. These staffing metrics provide a snapshot of current performance and highlight areas for improvement and opportunities for growth. […]

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How to Record and Analyze Inventory on a Balance Sheet

Jim Pendergast — Fri, 28 Jun 2024 16:40:33 +0000

A business balance sheet is one of the most essential financial documents your business can rely on to understand its financial health. By providing a snapshot of your current assets, liabilities, and owner equity, you can identify the line items that play a critical role in your bottom line. One of the most important elements […]

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What Is an Event Staffing Agency and How Do You Start One?

Jim Pendergast — Thu, 27 Jun 2024 16:45:28 +0000

Event staffing agencies provide specialized, temporary personnel for events of all sizes and are an integral niche of the staffing industry as a whole. Whether it’s a corporate gathering, a wedding, or a large concert, these agencies make sure that event organizers have the skilled staff they need to execute successful events. By understanding the […]

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Everything You Need to Know About a Letter of Release in Trucking

Jim Pendergast — Mon, 24 Jun 2024 19:52:14 +0000

Freight factoring is a common form of financing for trucking business owners who need quick funding. It’s a common practice to provide cash flow so truckers can keep hauling goods. If you’re a carrier interested in pursuing freight factoring, you need to first understand the full scope of factoring terms to prevent confusion or disagreements […]

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Trucking Business Loans for Fleet Owners and Owner-Operators

Jim Pendergast — Wed, 29 May 2024 16:59:55 +0000

Imagine a situation in which urgent repairs are needed to a fleet of trucks, sidelining them when you’re on a strict deadline for upcoming deliveries. If capital isn’t readily available to fix the problem, you might have reason to believe it’s cause for panic. Obtaining a trucking business loan can mitigate problems like this and […]

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Leasing vs. Buying a Semi-Truck

Jim Pendergast — Wed, 29 May 2024 15:29:27 +0000

There are numerous important financial decisions to make when starting a trucking business. From choosing a specific industry or type of truck you’re going to drive to which fleet fuel card you’re going to obtain, there are several factors that play a role in helping you start a profitable business. But few decisions will be […]

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How to Perform a Working Capital Analysis

Jim Pendergast — Mon, 13 May 2024 14:48:28 +0000

Your working capital is one of the most important measurements of your business’s financial health. As such, understanding how to calculate working capital and analyze what it means for your company’s financial performance is essential. By regularly performing a working capital analysis, you will have a clear understanding of where your company stands financially, as […]

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How to Build Good Relationships With Your Customers

Jim Pendergast — Tue, 30 Apr 2024 14:20:21 +0000

Of the many things that will affect the bottom line of your business, few are more important than building relationships with customers. Your ability to build and maintain relationships with customers will make all the difference in your ability to achieve sustainable long-term growth. With strong customer relationships, you’ll enjoy higher levels of client satisfaction […]

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Benefits of Freight Factoring

Jim Pendergast — Thu, 14 Mar 2024 16:11:18 +0000

For many business owners – and owner-operators in particular – one of the biggest challenges is figuring out how to finance your business and improve cash flow. Quite often, trucking companies struggle to have clients pay invoices in a timely manner, which can lead to major financial difficulties in keeping up with their ongoing expenses. […]

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How to Value a Staffing Company

Jim Pendergast — Thu, 29 Feb 2024 21:26:21 +0000

Running a staffing agency can be a great business. After all, the U.S. staffing industry is projected to hit $207.2 billion in 2024, showing just how much potential there is. However, like many other business owners, you may be wondering how to sell your staffing services. Investors and other staffing agencies may be interested in […]

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Owner-Operator Insurance Costs

Jim Pendergast — Thu, 29 Feb 2024 17:37:04 +0000

You’ve just purchased your first semi-truck to start an owner-operator trucking business. You plan to operate under your own authority and transport goods across state lines. Beyond all of the expenses and details that come with starting a trucking business, you must consider one significant factor: insurance costs. But what will the semi-truck insurance cost? […]

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How to Reply to a Payment Request Email

Jim Pendergast — Thu, 29 Feb 2024 16:58:36 +0000

Figuring out how to respond to an outstanding payment email is a common stressor for business owners when an invoice has not yet been paid to vendors. Whether due to cash flow issues or simply because you forgot to pay, getting a payment request email can fill you with a sudden sense of dread. But […]

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Current Ratio vs. Working Capital – What’s the Difference?

Jim Pendergast — Tue, 06 Feb 2024 21:37:08 +0000

Picture a situation in which you, a small business owner, are seeking a loan for expansion. To do this, you must be adept at differentiating between the current ratio and working capital. The current ratio will inform you of your company’s ability to pay off short-term obligations. Meanwhile, working capital offers you insight into operational […]

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EBITDA vs. Cash Flow: What’s the Difference?

Jim Pendergast — Mon, 05 Feb 2024 17:10:43 +0000

There are two key metrics at the forefront of financial analysis and decision-making in the business world: EBITDA and cash flow. While both offer valuable insights into a company’s financial health, they serve different purposes and paint distinct pictures of its fiscal status. Understanding the nuances between EBITDA vs. cash flow is essential for business […]

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Owner-Operator Insurance Coverage Requirements

Jim Pendergast — Tue, 30 Jan 2024 23:08:18 +0000

Insurance is one of the most significant expenses for every owner-operator. Following FMCSA insurance requirements is vital for remaining compliant with industry regulations, as well as protecting your trucking business’s finances and your company as a whole. With that in mind, here’s what you need to know about owner-operator trucking insurance so you can get […]

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Everything You Need to Know About Workers’ Compensation for Staffing Agencies

Jim Pendergast — Tue, 30 Jan 2024 22:00:15 +0000

Staffing agencies place workers in all types of work environments, from standard offices to hospitals to construction sites. Each employee must be adequately protected according to the specific risks of their assigned role, so the vastly different risk levels of these placements mean workers comp insurance rates and necessities vary. That’s why it’s so crucial […]

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What Happens If a Company Can’t Make Payroll?

Jim Pendergast — Tue, 30 Jan 2024 18:35:19 +0000

It’s one of the most worrisome questions for employees and business leaders alike: what happens if a company can’t make payroll? Figuring out how to pay employees on-time should be a top priority. Not paying your employees on-time can have disastrous consequences for your business. And even if you have good intentions, this can still […]

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What Are the Different Types of Working Capital?

Jim Pendergast — Mon, 29 Jan 2024 16:38:08 +0000

A business can look profitable on paper and still struggle to pay its bills on time. That disconnect is exactly why working capital matters. Monitoring working capital will show you how much short-term flexibility a company has to cover operating expenses and manage its cash flow. Still, there’s more than one type of working capital, […]

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How to Calculate Cost Per Mile

Jim Pendergast — Fri, 29 Dec 2023 20:57:08 +0000

When running your own trucking business, you’ll want to know how to calculate cost per mile (CPM). Understanding how much you spend to drive each mile provides crucial insights into how much you need to earn to make a profit. You can then identify ways to cut expenses, set rates appropriately, and ultimately improve your […]

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How to Become an Owner-Operator with No Money

Jim Pendergast — Fri, 29 Dec 2023 20:44:11 +0000

The trucking industry plays a huge role in the nationwide economy, and the importance of goods being transported across borders efficiently will ensure the industry remains in demand for the foreseeable future. Because of this, becoming an owner-operator can be a lucrative career choice. However, the financial challenges of starting a trucking business, especially if […]

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What Is Negative Working Capital and Is It Good or Bad For My Business?

Jim Pendergast — Thu, 28 Dec 2023 21:51:23 +0000

When it comes to having a complete understanding of the financial health of your business, few metrics are more important to stay on top of than working capital. Small business owners in particular should regularly track working capital changes and monitor if they begin to experience consistent negative working capital. But what is negative working […]

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Owner-Operator Expenses for Running a Trucking Company

Jim Pendergast — Wed, 13 Dec 2023 21:06:11 +0000

As a new or soon-to-be owner-operator, having a comprehensive knowledge of the expenses that lie ahead of you will prevent unexpected costs that could potentially threaten your cash flow. Especially if you’re just starting your trucking business, understanding these costs is key to managing your finances and ensuring the profitability of your business. From insurance […]

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Difference Between a Statement and an Invoice

Jim Pendergast — Thu, 30 Nov 2023 21:18:03 +0000

As a business owner, it’s vital for you to understand the nuances between various documents in order to keep operations running smoothly. Two documents that often get mixed up are statements and invoices. While you may see the terms “invoice” and “statement” and think they are repetitive, they actually serve different purposes and are used […]

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What Is an Invoice Number?

Jim Pendergast — Thu, 30 Nov 2023 19:36:53 +0000

Given the average business processes more than 1,000 invoices each month, there needs to be a way to easily track and manage one invoice to the next. Thankfully, there’s an easy solution: implementing invoice numbers. Even if you haven’t created an invoice numbering system before, you’ve likely seen that string of seemingly random numbers at the […]

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What Is a Fuel Surcharge?

Jim Pendergast — Fri, 10 Nov 2023 18:44:48 +0000

To run a successful trucking company, you must charge appropriate rates. While owner-operators can pull in an average yearly salary of $323,696, much of this goes to covering their expenses — fuel, in particular. In fact, rising fuel prices consistently rank as the top concern for the trucking industry as a whole. Because of this, […]

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Working Capital vs. Cash Flow: How They Are Related

Jim Pendergast — Wed, 18 Oct 2023 14:44:37 +0000

When it comes to keeping your business financially healthy, two of the most important terms to understand are working capital and cash flow. However, new business owners might not understand the differences between them. While working capital does influence cash flow and vice versa, they are each their own distinct measurement, so it’s pivotal to […]

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What Are Net 90 Payment Terms and How Do They Work?

Jim Pendergast — Wed, 11 Oct 2023 21:12:33 +0000

Few invoice payment terms have more significant ramifications than net 90. Reason being, net 90 are some of the longest payment terms you will come across as a business owner, meaning working on these terms can greatly affect business cash flow for both the buyer and seller. Because of this, it’s important to analyze net […]

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Is Being an Owner-Operator Worth It?

Jim Pendergast — Mon, 02 Oct 2023 21:22:24 +0000

Turn your unpaid invoices into working capital for your business Get Factoring Today When it comes to a career as a truck driver, there are generally two main options: working as an owner-operator or a company driver. Naturally, this leads to comparisons between owner-operators and company drivers. And of course, because owner-operators have to deal […]

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Net 45 Payment Terms: What Are They and How Do They Work?

Jim Pendergast — Fri, 29 Sep 2023 21:10:55 +0000

One well-known invoice payment term that you’ll likely come across in the business world is net 45. Not every business should aim to work on net 45 terms. They come with their pros and cons for both buyer and seller, and are only sensible to work on in certain situations. To help you gain a […]

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Best Free Apps Every Small Business Owner Should Have in 2025

Jim Pendergast — Thu, 28 Sep 2023 19:22:35 +0000

The ever-evolving modern business landscape is filled with apps focused on boosting efficiency for businesses. As an entrepreneur, it’s important to remember that leveraging mobile apps for running a small business is one of the most efficient ways to grow your company. When utilized correctly, the right apps can significantly improve your team’s workflows, collaboration, […]

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What Is Net 60 And How Does It Work?

Jim Pendergast — Mon, 25 Sep 2023 17:29:00 +0000

In the world of business transactions, payment terms are the linchpins upon which the entire system is constructed. They play a crucial role in managing cash flow and maintaining healthy financial relationships, and for any business owner, understanding payment terms is vital prior to creating an invoice. A relatively common payment term is net 60. […]

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What Is Cash Against Documents and How Does It Work?

Jim Pendergast — Wed, 20 Sep 2023 14:41:46 +0000

When you’re buying or selling goods across international borders, getting paid can feel a little complicated. Everyone involved wants some sort of protection, and it can be tricky to work across multiple countries, time zones, and financial institutions. That’s where cash against documents (CAD) comes in. It’s a straightforward payment method that helps keep the […]

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Owner-Operator vs. Company Driver: What’s the Difference?

Jim Pendergast — Thu, 24 Aug 2023 15:45:27 +0000

If you’re planning on entering the trucking industry, it’s crucial to first understand the difference between an owner-operator vs. a company driver. Which one pays more? Which one requires more work? And ultimately, is it better to be an owner-operator or company driver? There’s no one size fits all answer, but by taking some time […]

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Tips For Small Businesses Looking For A Cash Infusion

Jim Pendergast — Tue, 22 Aug 2023 21:39:08 +0000

No business can survive for too long when its expenditures exceed the amount of money coming in, also known as negative cash flow. Periods of negative cash flow are not exclusive to businesses struggling to make money, as even businesses with high revenue can experience cash flow challenges. To combat this problem, business owners strive […]

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Staffing vs. Recruiting: What’s The Difference?

Jim Pendergast — Tue, 22 Aug 2023 20:38:30 +0000

“Staffing” and “recruiting” are two terms often used interchangeably, but they actually don’t mean the same thing. Knowing the difference between staffing and recruiting is important for many, considering about 40% of companies have outsourced most—if not all—of their hiring processes. Even staffing agency owners might not be aware that staffing and recruiting have separate […]

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What Is Invoice Verification And How Does It Work?

Jim Pendergast — Wed, 09 Aug 2023 20:53:22 +0000

Invoice verification is an essential, hugely consequential process in the often-complex world of B2B transactions. Incorrect invoices contribute to 61% of late payments, a testament to the significance of efficient invoice verification. The dangers of invoice fraud loom large, as even savvy business moguls are not immune, including ‘Shark Tank’ investor Barbara Corcoran, who fell […]

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What Is 2/10 Net 30 On An Invoice?

Jim Pendergast — Wed, 26 Jul 2023 16:31:02 +0000

While you may already have a good understanding of standard invoice payment terms, this doesn’t necessarily mean your cash flow problems will go away. Even when clients and customers agree on payment terms, many clients still don’t pay on time. Delayed payments can create a serious cash flow crunch for your business. Fortunately, by getting […]

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Prepaid and Add vs. Freight Collect: What’s The Difference?

Jim Pendergast — Tue, 18 Jul 2023 16:30:23 +0000

Turn your unpaid invoices into working capital for your business Get Factoring Today Coming to an agreement on freight terms can be one of the more difficult aspects of forging a new partnership with a buyer. Freight charges can be billed in many ways, two of the more common of which include prepaid and add […]

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What Is Business Accounting And What Are Typical Accounting Tasks?

Jim Pendergast — Wed, 05 Jul 2023 13:33:07 +0000

Whether you’re a new entrepreneur getting your first business off the ground or an experienced business owner, navigating company finances can be tough. Without proper organization and insights pertaining to accounting-related tasks, your business’ finances are in jeopardy of being mismanaged. This comprehensive business accounting guide will explore the basics of accounting in business and […]

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How To Charge Late Fees On Invoices

Jim Pendergast — Mon, 03 Jul 2023 17:52:20 +0000

All too often, businesses struggle with slow-paying customers. When a client doesn’t submit payment by their invoice due date, it can create serious cash flow problems for your business. If you find your business in this situation, you don’t want to waste too much time chasing down clients for payment. To prevent having to do […]

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How Do Truck Drivers Get Paid?

Jim Pendergast — Wed, 28 Jun 2023 20:40:04 +0000

Working as a truck driver can be a liberating experience. But just like any other job, one of the biggest questions to consider is: how are truck drivers paid? As it turns out, there isn’t necessarily a one-size-fits all answer to the question of how do truck drivers get paid. In this article, we’ll break […]

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Quick Pay vs. Freight Factoring

Jim Pendergast — Tue, 13 Jun 2023 18:59:42 +0000

For trucking companies, few things are more important than ensuring you get paid in a timely manner. Maintaining sufficient cash flow for your operations is key for staying cash flow positive. But the trucking industry is one of slim margins. Even the most well-prepared, successful trucking business owners will have periods of negative cash flow […]

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What Is Invoice Reconciliation And Why Is It Important?

Jim Pendergast — Thu, 25 May 2023 16:42:59 +0000

Verifying financial records is critical for businesses of all sizes. On average, about 1 in 10 invoices contain an error, whether that be an accounting error, failing to include all necessary product details, or listing inaccurate payment terms. Regardless, just that one inaccurate invoice could prove costly. An important process to help maintain the integrity […]

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Locum Tenens Credentialing: What Is It and How Long Does It Take?

Jim Pendergast — Thu, 25 May 2023 16:23:41 +0000

Locum tenens practitioners value their roles thanks to the freedom and flexibility they provide. Unlike standard healthcare providers, who work for a specific hospital or facility, locum tenens physicians work with medical staffing agencies to contract with facilities that need temporary staffing help. However, just like full-time physicians must be properly licensed and credentialed, locum […]

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What Is Locum Tenens?

Jim Pendergast — Wed, 10 May 2023 18:29:31 +0000

One of the common terms you’ll hear in relation to healthcare staffing is “locum tenens.” But what is locum tenens, and what is locum tenens staffing? Understanding what locum tenens means can be mutually beneficial for healthcare staffing agencies, healthcare facilities, and doctors, so let’s dive deeper. What Does Locum Tenens Mean? Locum tenens is […]

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How Staffing Agencies Get Nursing Contracts

Jim Pendergast — Mon, 24 Apr 2023 21:04:47 +0000

It’s no secret that the healthcare industry is facing an employment crisis. In fact, the International Council of Nurses has labeled the nursing shortage a “global health emergency,” as providers struggle to fill critical positions. Nursing staffing agencies play a vital role during this crisis by providing healthcare facilities with qualified nursing professionals to ensure […]

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What Is E-Invoicing and How Does It Work?

Jim Pendergast — Mon, 24 Apr 2023 20:27:56 +0000

When it comes to getting paid for the work you do for your clients, few things are more important than having a solid invoicing system in place. An itemized invoice serves as a valuable record of money owed, while also helping set a deadline for payments. Businesses historically sent their invoices through the mail; however, […]

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Invoice vs. Receipt – How Are They Different?

Jim Pendergast — Thu, 13 Apr 2023 21:35:40 +0000

An efficient invoicing process can make all the difference for your cash flow and can help you achieve your growth goals. However, many small business owners find themselves confused about the difference between an invoice and a receipt, especially since both terms are used in relation to receiving payments from customers. Read on as we […]

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Purchase Order vs. Invoice – How Are They Different?

Jim Pendergast — Thu, 13 Apr 2023 21:28:36 +0000

It’s not uncommon for people outside of the procurement realm to confuse purchase orders with invoices. Even seasoned business teams mix up the terms from time to time. However, purchase orders (or POs) and invoices are two distinct and essential financial documents, so failing to understand their differences can negatively impact company expenses, documentation, and […]

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Invoice Factoring vs. Bank Line of Credit

Jim Pendergast — Wed, 22 Feb 2023 16:41:22 +0000

For business owners, managing cash flow wisely is a pivotal factor in determining long-term success, particularly for small business owners. Given 60% of small businesses struggle with cash flow, it is not a unique problem to have, and owners often look to third parties to assist with these struggles. Two of the most common options […]

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9 Tips to Improve Your Working Capital

Jim Pendergast — Tue, 14 Feb 2023 19:13:43 +0000

Working capital is vital to any business and is an essential indicator of short-term financial health. Unfortunately, businesses all over the world commonly suffer from a lack of working capital, forcing entrepreneurs to get creative to combat this problem. While business owners struggle to come up with adequate capital for a multitude of reasons, a […]

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Construction Invoice Factoring

Jim Pendergast — Wed, 02 Nov 2022 17:18:30 +0000

Payment cycles can be notoriously long in the construction industry, and late customer payments often force companies and contractors to wait even longer to get paid. Eventually, these delays create a frustrating cycle of negative cash flow and mounting debt. This is where construction factoring companies come into play. Construction factoring companies like altLINE provide […]

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Get Your Invoices Paid Faster With Medical Receivables Factoring

Jim Pendergast — Mon, 31 Oct 2022 19:22:16 +0000

care workers and medical service providers sometimes must wait weeks or months to receive payment. While profit is a secondary motive for many medical service providers, long payment terms can lead to low-cash situations that put your business in a frustrating cycle of negative cash flow and mounting debt. To keep growing your medical practice […]

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Get Your Invoices Paid Faster With International Invoice Factoring

Jim Pendergast — Mon, 31 Oct 2022 18:57:52 +0000

In the import and export industry, you often have to wait weeks or even months to get paid. Unfortunately, business expenses often require immediate attention, meaning you may need to sacrifice assets or equity to pay them off. Late customer payments can then cause your company to fall into a cycle of negative cash flow […]

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Get Your Invoices Paid Faster With Commission Factoring For Real Estate

Jim Pendergast — Mon, 31 Oct 2022 18:25:47 +0000

Whether you are an individual realtor or a real estate agency, your cash flow is bound to be unpredictable because there may be gaps between property closings. Unfortunately, business expenses have no such gaps, meaning your income may be strained and lead you into a cycle of negative cash flow and mounting debt. To keep […]

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Get Your Invoices Paid Faster With Home Healthcare Factoring

Jim Pendergast — Fri, 28 Oct 2022 17:24:18 +0000

As home healthcare providers, it can be tough to juggle back-office operations alongside your medical services. And when delayed customer payments lead to a frustrating cycle of negative cash flow and mounting debt, it can become nearly impossible to keep cash flow positive. This is where home healthcare factoring comes in. A common alternative financing […]

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What Is Government Contract Factoring and How Does It Work?

Jim Pendergast — Fri, 28 Oct 2022 15:48:27 +0000

Government contracts are often lucrative and can make you a lot of money, but they’re notorious for forcing providers to wait a long time to get paid. If you’ve worked on government contracts in the past this comes as no surprise. Lengthy payment cycles and late payments can put your business in a cash crunch, […]

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Get Your Invoices Paid Faster With Small Business Invoice Factoring

Jim Pendergast — Fri, 28 Oct 2022 15:12:27 +0000

For small businesses, one of the most common growth deterrents are slow-paying customers. Late customer payments lead to margins thinning, which can create a frustrating cycle of negative cash flow with mounting debt. To grow your small business and stay competitive among your peers, you need to be able to afford to take on new […]

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Get Your Invoices Paid Faster With Education Provider Factoring

Jim Pendergast — Fri, 28 Oct 2022 14:02:18 +0000

Supplemental education providers often have to wait long for the school district to pay them. Long payment terms that take weeks or even months create cash flow issues leading to a frustrating cycle of negative cash flow and increasing debt. To keep your education provider company in good financial health, you need cash to make […]

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Get Your Invoices Paid Faster With Agricultural Factoring

Jim Pendergast — Thu, 27 Oct 2022 22:15:33 +0000

Agricultural businesses are very seasonal by nature, which means you may encounter inconsistent cash flow at certain points throughout the year. Unfortunately, this inconsistent cash flow is worsened by delayed customer payments that create cash crunches, leading to a cycle of negative cash flow and mounting debt. To keep your agricultural company flourishing, you need […]

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Invoice Factoring for Staffing Companies: What Is it and How Does it Work?

Jim Pendergast — Thu, 13 Oct 2022 20:44:27 +0000

Staffing agencies often depend on prompt client payments to meet payroll obligations. If invoice payments are drawn out or not paid on-time, it can have far-reaching impacts on cash flow and operations. For this reason, many agency owners turn to staffing invoice factoring. If you’re not an experienced business owner, you might not have heard […]

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Small Business Loan Statistics (2025)

Jim Pendergast — Wed, 09 Mar 2022 17:26:21 +0000

If you’re a small business owner considering applying for a loan, it can be helpful to first have an idea of some small business loan statistics. By understanding what the national market trends and averages are, you can have a benchmark of sorts to help gauge what might be attainable and realistic for your business. […]

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How to Calculate Your Free Cash Flow

Jim Pendergast — Wed, 09 Mar 2022 17:21:44 +0000

When you’re running a business, there are many things to keep records of. There are expenses, taxes, and payroll, to name a few. One essential thing to track is your free cash flow, or FCF. It may seem daunting, but this article will detail what free cash flow is and how to calculate it. What […]

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Merchant Cash Advance Industry Statistics

Jim Pendergast — Mon, 28 Feb 2022 16:55:18 +0000

A merchant cash advance (MCA) is an advance that a business can get based on its credit card sales. Once a lump sum of money has been deposited into your business checking account, the cash advance lender will get a percentage of your future credit card sales until the advance is paid off. In this […]

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Year-End Accounting Checklist for Your Small Business

Jim Pendergast — Thu, 09 Dec 2021 17:09:49 +0000

It’s the end of the year, which means it’s time to dust off your year-end accounting checklist and get to ticking off the boxes. If you’re a new business owner and you don’t have a background in bookkeeping, you may think of this as standard, monotonous housekeeping, but it’s a crucial process for business owners […]

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How to Forecast Cash Flow by Building a Cash Flow Model

Jim Pendergast — Thu, 28 Oct 2021 14:34:20 +0000

You could make a good argument that no financial measure is more important for a business than cash flow. Cash flow problems are the No. 1 reason behind business’s failing to age beyond three years. Not only is cash flow necessary for a business’ survival, but a certain level of positive cash flow will eventually […]

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Behavioral Interview Tips and Types of Questions for Staffing Agencies

Jim Pendergast — Fri, 24 Sep 2021 20:28:26 +0000

Staffing and recruitment agencies often ask behavioral questions to candidates to get a better feel of how they would fit in a certain role. With behavioral interview questions, recruiters and staffing agency owners can learn new information that they wouldn’t find on a resume. Behavioral interviewing involves specific questions that get at the heart of […]

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Forms, Documents, and Government Requirements for Opening a Staffing Agency

Jim Pendergast — Fri, 24 Sep 2021 20:27:55 +0000

Are you planning to open your own staffing agency? If so, the first thing you should do is learn about the paperwork and requirements to open a staffing agency, as there are several items to complete before you should get started. Understanding what’s required to launch a staffing agency is the very first step of […]

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8 Tips for Growing Your Staffing Agency

Jim Pendergast — Fri, 24 Sep 2021 20:26:45 +0000

Like in any other business, starting and running a successful staffing agency is easier said than done. Though there are several obstacles you will encounter in this field, one of the most significant challenges is a hyper-competitive staffing and recruiting industry. According to the American Staffing Association, there are currently about 25,000 staffing agencies, and […]

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How to Create a Marketing Strategy For Your Staffing Agency

Jim Pendergast — Fri, 24 Sep 2021 20:26:12 +0000

Many staffing agency owners open their doors too quickly rather than making the necessary preparations and planning required to get the best return on investment. In other words, they don’t first create an effective marketing plan. While some rush to calculate ad spend budgets or work on billboard designs, the most successful staffing companies understand […]

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Starting a Staffing Agency? Here Are The Staffing Associations You Should Join

Jim Pendergast — Fri, 24 Sep 2021 20:24:53 +0000

Staffing agencies promote recruitment services and play a pivotal role in helping businesses find their ideal candidates. They serve as the foundation for the workforce. They are sometimes called job centers. When there is a vacancy in a company or firm, they can contact a staffing agency to publicize this opening. The agency can carry […]

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What Is MSP in Staffing?

Jim Pendergast — Fri, 24 Sep 2021 20:24:22 +0000

You’ve been thinking about using a managed services provider (MSP) to help expand your staffing agency. But like with any investment, you don’t want to make a rash decision. Taking the time to do your due diligence in research and asking questions is important to you. Although there isn’t a “one size fits all” approach […]

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What Is VMS in Staffing?

Jim Pendergast — Fri, 24 Sep 2021 20:23:36 +0000

New staffing agency owners are likely familiar with vendor management systems (VMS) but might be unsure whether utilizing VMS is necessary for their firm. VMS can help you grow your staffing business by managing your worker and employer pipeline. However, allowing a software application to guide your recruitment and talent acquisition processes can raise questions. […]

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How to Raise Money for a Business Without a Loan

Jim Pendergast — Wed, 11 Aug 2021 15:20:30 +0000

Starting and growing a business can be daunting if you lack the necessary resources, especially when it comes to raising money to fund your new company. Many hopeful business owners often wonder, “is it possible to raise money for a business without a loan?” Thankfully, the answer to this question is a resounding “Yes.” Every […]

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Is Invoice Factoring Possible with Bad Credit?

Jim Pendergast — Wed, 11 Aug 2021 15:19:18 +0000

Your business might turn in a profit on paper, but if cash flow is limited, covering operational expenses can be a challenge. But for businesses with bad credit or a limited credit history, finding funding to cover expenses isn’t so straightforward. That’s where alternative financing options such as invoice factoring come into play. Factoring is […]

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Cash Flow Loans: What They Are, How They Work, Examples

Jim Pendergast — Wed, 11 Aug 2021 15:17:21 +0000

Whether you want to fulfill payroll obligations, open a new business branch, or invest in a promising opportunity, a cash flow loan can be an excellent way to finance your capital needs. Confused about cash flow loans and how they work? Here’s an in-depth guide covering everything from what a cash flow loan is, to […]

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Get Your Invoices Paid Faster with Freight Broker Factoring

Jim Pendergast — Tue, 27 Jul 2021 00:00:35 +0000

As a freight broker, you depend heavily on prompt invoice payments to pay operating costs and carriers. However, sometimes you must wait for weeks or even months for payment, causing negative cash flow and mounting debts. To grow your business and be competitive in the market, you need access to cash to keep up with […]

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TWIC Cards: What They Are, Who Needs One & How to Get One

Jim Pendergast — Tue, 20 Jul 2021 18:57:16 +0000

The vast number of requirements for truck drivers and carriers can feel overwhelming. But if your trucking company intends to conduct maritime-related business, there’s one requirement that you and your drivers cannot forget to apply for—a TWIC card. TWIC stands for Transportation Worker Identification Credential. A TWIC card is necessary for a couple different types […]

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How Do Freight Brokers Pay Carriers and What Should Carriers Do If They Don’t Get Paid?

Jim Pendergast — Thu, 24 Jun 2021 18:21:11 +0000

Freight brokers can be incredibly helpful for carriers. In the best of cases, they lighten the logistics load of the carrier, thereby increasing productivity and efficiency, and ultimately improving cash flow for trucking companies. In the worst-case scenario, however, the actions of insolvent, unreliable, or even fraudulent freight brokers can run a trucking business into […]

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What Is Reverse Factoring (Supply Chain Financing)?

Jim Pendergast — Tue, 08 Jun 2021 15:50:31 +0000

According to a JP Morgan Index Report, more than $500 billion in liquidity is trapped in companies’ supply chains. You can prevent your company from being part of such stats through Fintech options like reverse factoring. You may have heard of invoice factoring, which is the process of selling your outstanding invoices in exchange for […]

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How to Start Your Own Staffing Agency: Step-by-Step

Jim Pendergast — Tue, 08 Jun 2021 15:46:32 +0000

Starting a staffing agency can be an incredibly exciting venture. You can make a lot of money by running a successful staffing agency, and the latest data shows the industry is coming off consecutive years of growth, reaching $650 billion in global revenue. But many prospective business owners are faced with the same dilemma: how do […]

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What Happens to Receivables When You Sell Your Company?

Jim Pendergast — Wed, 26 May 2021 19:58:55 +0000

Selling a company isn’t a straightforward task. It involves making a lot of deals and finalizing several things. Luckily, you can structure the sale to suit your position. The calculation of a business’s purchase price incorporates different aspects. Contrary to what some sellers propagate, the value of assets isn’t solely responsible for the purchase price. […]

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Advantages and Disadvantages of a Merchant Cash Advance (MCA)

Jim Pendergast — Tue, 25 May 2021 14:57:19 +0000

A merchant cash advance or MCA might look attractive to a small business owner who needs some quick cash. Revenue shortfalls or immediate expansion plans can create this need. Plus, because MCAs aren’t technically loans, you don’t have to go through a traditional bank approval process. But there are some disadvantages of MCAs that can […]

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Purchase Order (PO) Financing vs. Factoring

Jim Pendergast — Tue, 11 May 2021 16:25:09 +0000

Just about every business will run into issues with available funds at some point. While intermittent cash flow problems are normal, particularly for growing businesses, it’s important to stay one step ahead by securing financing. But what if you run a small business and can’t qualify for a traditional bank loan or line of credit? […]

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Recourse Factoring vs. Non-Recourse Factoring

Jim Pendergast — Tue, 04 May 2021 16:10:07 +0000

In order to survive in today’s competitive market and ultimately generate a competitive edge, a company must weigh the short-term and long-term implications of various funding solutions, one of which is invoice factoring. Factoring can prove a great way for small business owners to improve cash flow. But before partnering with a factoring company, there […]

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Get Your Invoices Paid Faster With Professional Services Factoring

Jim Pendergast — Wed, 28 Apr 2021 19:43:52 +0000

As a professional service provider, you depend on prompt invoice payments to cover operating costs and staffing expenses. Unfortunately, sometimes you have to wait weeks or even months for customer invoices to clear, leading to a cycle of negative cash flow and increasing debt. To keep growing your business and stay competitive in the professional […]

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Get Your Invoices Paid Faster With Janitorial and Commercial Cleaning Factoring

Jim Pendergast — Wed, 28 Apr 2021 19:30:24 +0000

When running a janitorial or commercial cleaning company, it can be tough to juggle back-office operations like invoice management and payroll alongside cleaning operations. It does not help that many customers prefer to pay with invoices on extended payment terms, leading to a frustrating cycle of negative cash flow and mounting debt if they delay […]

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Get Your Invoices Paid Faster With Food Distributor Factoring

Jim Pendergast — Wed, 28 Apr 2021 19:19:37 +0000

Big and small food and beverage companies often experience cash flow issues due to unpaid invoices. Long payment terms lead to cash crunches, meaning companies usually have to take out loans with high fees to stay productive. To keep your company growing and competitive in an ever-changing food and beverage market, you need cash to […]

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Get Your Invoices Paid Faster With Wholesale And Distribution Factoring

Jim Pendergast — Wed, 28 Apr 2021 18:59:13 +0000

The wholesale and distribution industry depends on prompt invoice payments to cover operating costs and product purchases. Because your company is the middleman between manufacturers and retailers, you may experience payment delays for weeks or even months, creating a cycle of negative cash flow and increasing debt. To keep growing your company, reduce stress, and […]

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A Guide to Oilfield Factoring Services

Jim Pendergast — Fri, 23 Apr 2021 20:01:41 +0000

Intense competition in the American oil and gas industry leads to low prices, meaning you don’t have a large profit margin. It’s made worse by customers taking weeks or even months to pay, resulting in cash crunches that create a frustrating cycle of negative cash flow and increasing debt. To keep growing your oil company […]

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Get Your Invoices Paid Faster With Apparel And Clothing Factoring

Jim Pendergast — Thu, 22 Apr 2021 21:43:13 +0000

In the apparel and clothing industry, it can be tough to juggle back office operations, like invoice management and payroll, alongside your creative workflows. With thin margins and seasonal changes, the textiles industry can feel overwhelming, and it doesn’t help that you sometimes need to wait for weeks or even months for customers to pay, […]

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What Is Asset-Based Lending and How Does It Work?

Jim Pendergast — Tue, 20 Apr 2021 16:13:04 +0000

Financing your business can be tricky. While there’s a wide breadth of lending options at your disposal, it can be intimidating to figure out how to sort through those options to determine which is best for your business. And for small businesses in particular, traditional options aren’t always attainable. For these business owners, asset-based lending […]

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Cash Budget vs. Statement of Cash Flows

Jim Pendergast — Wed, 14 Apr 2021 18:27:19 +0000

As a business owner, managing cash is a tedious but necessary part of the job. Keeping a hold of your cash flow is critical for a thriving, successful business, but it’s not always the simplest task or the easiest to understand. Two terms often thrown around in the realm of business management are ‘cash budget’ […]

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How to Calculate the Cash Conversion Cycle

Jim Pendergast — Wed, 14 Apr 2021 18:22:01 +0000

When you’re running a small business, you must know several formulas to keep expenses low and maintain high-profit margins. Other formulas present business owners opportunities to know how fast their inventory is selling and tracking cash flow, called the cash conversion cycle (CCC). It’s also known as the net operating cycle. Read on to find […]

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Cash Flow Analysis Techniques and Tips

Jim Pendergast — Fri, 19 Mar 2021 16:24:13 +0000

Running a small business is no easy feat, but running a successful small business takes even more time and skill. Performing a cash flow analysis and looking at your expenses can be the difference between your business floating or sinking. Knowing the financial health of your company helps you identify what you’re doing right and […]

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Small Business Cash Flow Management: Tips & Strategies

Jim Pendergast — Fri, 19 Mar 2021 16:18:40 +0000

Proper cash flow management is the key to success for many small business owners. Unfortunately, small businesses that do not practice effective cash flow management strategies tend to fail quickly. It’s not uncommon for young businesses to suffer from cash flow problems; in fact, it’s the norm. However, business owners need to focus on minimizing […]

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What Is the Cash Ratio and How Is It Used?

Jim Pendergast — Thu, 18 Mar 2021 20:05:23 +0000

The cash ratio, also known as the cash asset ratio, is a liquidity measurement used by financial analysts. Its purpose is to evaluate a company’s capability to pay off any short-term debts. This capability is determined by calculating the ratio of the short-term assets against a company’s short-term liabilities. There are two other common ratios: […]

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What Is Net Working Capital? How to Calculate and Formula

Jim Pendergast — Thu, 18 Mar 2021 20:02:33 +0000

An organization’s net working capital paints a picture of its overall financial health and, if sufficient, ensures it has enough funds to maintain operations without concern. But for business owners, analyzing working capital involves more than just knowing its definition and how to calculate it; the process involves meticulous tracking and managing so you understand […]

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