Credit scores are often seen as the number one obstacle preventing small businesses from getting financing. But disorganized financials may be equally to blame. In today’s challenging economic environment in particular, lenders want to make sure your business is viable and will be able to repay the debt. Organized and up-to-date finances are essential if you want to increase your chances of getting approved.
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Here are five simple ways to organize your business finances
Create an easy filing system
“We think ignorance is bliss, but really is it filled with headaches and fear,” Belinda Rosenblum, CPA, money strategist for business owners, and founder of OwnYourMoney.com, says.
