Chelsea Krause is a writer who specializes in accounting, payroll, and small business loans. She has been with Merchant Maverick helping small business owners manage their finances since 2016. She is a QuickBooks Certified User and former eCommerce store owner. Her accounting expertise has been quoted in Forbes and her work appears in Startup Nation, Small Business Bonfire, and Women on Business. Chelsea graduated summa cum laude with a BA in English & Creative Writing from George Fox University and studied abroad at the University of Oxford as well. She currently resides in Boise, Idaho.
Looking for an accounting definition? We cover all of the basics in our quick guide to accounting terms, so you can quickly understand important accounting terms and get back to running your business.
Credit bureaus arose to help lenders quickly gauge the reliability of a potential borrower. In the past, you could go to the good ol' general store and the owner would know you, your character, and whether or not putting your items on "charge" (or on credit) was a good idea. That method may have worked in the past, when communities were small and isolated, but there had to be a better way moving forward. Thus credit bureaus were born.
Learn what invoice financing is, whether it’s right for your business, and how to find a great financing company to work with in our complete guide.
Lenders like to know exactly how you plan on using the money they may potentially lend to you. If you've made successful investments in the past, like purchasing additional equipment that increased your sales revenue by 25%, and are planning on purchasing more equipment with the loan your applying for, be sure to tell your lender! It will demonstrate that you're experienced in business and that you're likely to increase your cash flow (which a lender hears as "we're getting our money back").
Looking for an accounting definition? We cover all of the basics in our quick guide to accounting terms, so you can quickly understand important accounting terms and get back to running your business.
Need extra cash for the holidays, but not sure where to start? Learn about the best types of business loans, and where to get them, in our guide to holiday business loans.
Think it’s time for your business to upgrade to a corporate credit card? Find out if your business is eligible for a corporate card, who offers corporate cards, and how to find the best for your business in our step-by-step guide.
Invoice factoring is a useful tool for small businesses that have cash flow issues. Learn the ins and outs of invoice factoring so you can decide if it’s the right type of financing for your small business.
Getting a business credit card is more than just finding a card you like and making sure you have a good credit score when you apply. By following these five steps, you can ensure that you’re seeking the cards that fit your business goals in the first place. You’ll also get a better understanding of what you should do before and during the application process.
If you need a lump sum, are able to state the intended use, and can pay the money back over the next few years, a term loan might be best. Our small business loan reviews can help you find a lender that works for you. If your financial needs are vaguer and your ability to repay quickly is more solid, a line of credit may be the way to go. In that case, we can help you find the best business lines of credit as well.
Credit card surcharging has rapidly gained in popularity in recent years as court decisions, and legislative changes have gradually removed legal barriers to the practice. The ongoing COVID-19 pandemic has greatly accelerated this trend. Nonetheless, the question remains: Should you add a surcharge?
Corporate credit cards are designed for large companies and corporations. Business credit cards, meanwhile, work similarly to traditional personal credit cards.
A home equity loan certainly has its benefits — startups can qualify, interest rates are low, and terms are favorable. However, there may be other options that make sense for your business that don’t put the roof over your head at risk. As with any other loan, shop around, compare lenders, and understand the terms of your loan or line of credit before signing a contract.
When overwhelmed by debt, it’s tempting to look for the quickest, easiest path out. Unfortunately, paying down debt is a process that takes time. Even if you are a good candidate for credit card debt consolidation and have the credit score to unlock low rates on a balance transfer card or a loan, this doesn’t mean your debt will go away overnight.
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Merchant Maverick’s ratings are editorial in nature, and are not aggregated from user reviews. Each staff reviewer at Merchant Maverick is a subject matter expert with experience researching, testing, and evaluating small business software and services. The rating of this company or service is based on the author’s expert opinion and analysis of the product, and assessed and seconded by another subject matter expert on staff before publication. Merchant Maverick’s ratings are not influenced by affiliate partnerships.
Our unbiased reviews and content are supported in part by affiliate partnerships, and we adhere to strict guidelines to preserve editorial integrity. The editorial content on this page is not provided by any of the companies mentioned and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are author’s alone.
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