Eric Goldschein

Eric Goldschein is a freelance journalist who covers entrepreneurship, small business trends, emerging technologies, culture and sports.

He was previously the managing editor of, and has written for Business Insider, Trep Life, the Huffington Post, Fundera and more.

Posts by Eric Goldschein:

by Eric Goldschein on May 26, 2017

Business Credit Score – Why It Matters for Your Small Business

A business credit score (or business credit rating) is a lot like a personal credit score. It’s a number that represents whether lenders can trust that business to pay back a loan. If you’re a business, you likely have a personal credit score (also known as a FICO score) as well as a separate business credit score that you should monitor and improve whenever possible. While some factors are out of your hands, such as risk factors for your industry, your business credit score is something you can alter with responsible spending practices and due diligence. A good business credit score is key to financing an emerging, growing, or even robust business. Just because you don’t know your score doesn’t mean others don’t— And lenders of all sizes will use it to assess whether you’ll be getting that much-needed business loan.   So let’s review what goes into establishing business credit,…

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by Eric Goldschein on May 1, 2017

Microloans: What They Are & How To Take Advantage

Microloans refer to a category of financing where you can qualify for short-term working capital (or even start up capital) with low interest rates as long as you meet some special qualifying criteria. If you’re an entrepreneur looking for an infusion of capital to jumpstart your small business idea, to make emergency repairs to your existing business, or to take operations to the next level with new equipment, you’ve come to the right place. After all, you wouldn't want to overextend yourself with a traditional term loan if you qualify for a low-interest small business loan, would you? Consider this an invitation from us to dive right into the wonderful world of microloans in 2017! We'll start with the basics: What are Microloans? Microloans are exactly what they sound like: Small loans, which are on average about $13,000, according to the U.S. Small Business Administration. With that being said, microloans aren't always so small. They've…

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by Eric Goldschein on April 8, 2017

Trump News – 5 Executive Orders Affecting Small Business in 2017

As the Donald Trump administration looks forward, past the first few months in office and beyond the high-profile policy losses they've endured, Americans everywhere are taking stock of the president elect. It’s important to remember that the president has already signed a number of executive orders and memos that don’t require congressional approval to have a real impact on the U.S. economy. Trump’s economic policies and proposals have engendered confidence among many in the small business community. For example, the National Federation of Independent Business has measured a surge in its small-business confidence index, the Federal Reserve has hiked up interest rates, and the stock market appears to be booming. Learn more about Rising Interest Rates in 2017 But how much of this is the result of hopefulness and optimism on the part of business owners? And more importantly, how much can be tied back to the actual orders Trump has…

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by Eric Goldschein on April 7, 2017

Small Business Loans for Veterans – A Definitive Guide to VA Business Loans

Small business loans for veterans are available through various channels and are also often supplemented with business development tools. Business ownership is the kind of mission that veterans, known for their discipline, determination, and resourcefulness, are surely well-suited to tackle. But veterans generally don’t leave their time in the service with the kind of capital needed to start and maintain a small business. Like many of us, they need access to the loans and credit that make startups viable long-term. Fortunately, there are a number of programs and resources that make the American Dream possible for soldiers after serving our country. If you're looking for a VA business loan, the options are varied depending on whether you're looking to start a business, you already have a young business, you have bad credit, and many other qualifiers. We put together a rundown of the best small business loans for veterans, to give those…

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by Eric Goldschein on February 17, 2017

Trump Pick Linda McMahon Has HUGE Plans for the SBA

Linda McMahon, Donald Trump’s pick to head the Small Business Administration, isn’t exactly synonymous with the word “small.” Along with her husband Vince, McMahon helped turn pro wrestling into one of the biggest shows on earth: a bombastic, worldwide entertainment phenomenon. Yet as she takes control of the SBA, small business owners have reason to be cautiously optimistic— Assuming she sticks to her current proposals. Who is Linda McMahon? McMahon is best known for the results of her personal and professional partnership with Vince. The couple founded their own wrestling company and purchased a stadium in the 1970's to host events, and during hard times McMahon reportedly made meatballs for show attendees herself— a history she has referenced when touting her small business credentials.   McMahon is credited with overseeing the management of the WWE, in particular the company’s product merchandising and TV deals over the years. If Vince was the…

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by Eric Goldschein on February 27, 2017

How to Calculate APR vs. Interest Rate on a Loan

Small business owners researching the best loans for small businesses (be it in the form of a business loan, merchant cash advance, or credit card) have likely come across three ways to express the cost of a loan: annual percentage rate (APR), interest rate, and factor rate. As though finance weren't complicated enough-- The truth is, each is a totally different type of interest rate; they are all calculated differently, and thus have very distinctive meanings. To simply ask "What is interest rate versus APR?" is to risk not fully understanding the true cost of financing. Comparing interest rate to APR is like comparing apples and oranges-- and if we stick with the fruit metaphor, that makes the factor rate something like bananas. We strongly encourage small business owners considering a loan to study the explanations in this article before deciding on a type of business financing. APR and interest rate are more closely related than…

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by Eric Goldschein on January 19, 2017

The Trump Presidency & Your Small Business – What You Need To Know

As Donald Trump takes office, small business owners everywhere are wondering what to expect from the 45th president. While Trump’s small business tax plan has been available to the public for some time, it’s still not clear what elements of his platform will actually be enacted. It shouldn’t be controversial to say that the incoming presidential administration is mired in uncertainty. Even those who voted for Mr. Trump are unsure of which campaign promises he’ll follow through on. This makes predicting how the Trump presidency will affect small business difficult— though he's already made a few decisions that can help us parse the rhetoric and get to work. What Are the Details of Trump’s Tax Plan? Trump claims that SMBs and small business owners will gain the most from his tax reforms. But how will it really play out? Trump Tax Plan vs. Current Tax Rates According to numerous campaign speeches and his…

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by Eric Goldschein on February 2, 2017

An Epic Guide to Business Credit Cards, Charge Cards, & Lines of Credit

If you’re a small business owner, you know how important it is to always have extra capital on hand so you can deal with whatever life throws at you. Unless you have stash of cash under your mattress, you’ll probably want to obtain working capital at some point or another. You have a number of options on that front, including term loans, equipment financing, and several different types of business credit. Three of the most common ways that business owners access credit are through business credit cards, business charge cards, and business lines of credit. [table id=9 /] But think about it: Do you really understand the advantage of choosing one over the other? This article will help you distinguish between these types of business credit, including: differences between personal credit cards and business credit cards differences between a business line of credit and business a credit card differences between a charge card and a credit card for business…

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by Eric Goldschein on May 25, 2017

Ditch Your Banker: Find The Best Loans Through Alternative Lenders

The world of lending has shifted. No longer are banks the sole gatekeepers of capital, which is good news for small business owners, who were often stymied by traditional banking institutions. Now some of the best small business loans for startups come from “alternative lenders,” mainly based online. What Are Alternative Lenders? Alternative lenders are non-bank lenders. While about 80 percent of small business loan applications to traditional banks are turned down, alternative lenders are more flexible and welcoming to small business owners. They also offer a faster application and approval process, and often deal in smaller loan amounts. Why Should Businesses Work with Alternative Lenders? Since alternative lenders give business owners faster and easier access to capital of all kinds, on more flexible terms, many are turning to them in droves. In this post-recession economy, the fact that a new class of lender will take a chance on small…

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Ditch Your Banker: Find The Best Loans Through Alternative Lenders

by Eric Goldschein on May 25, 2017
The world of lending has shifted. No longer are banks the sole gatekeepers of capital, which is good news for… Read more

Business Owners: 5 Truths Your Banker Doesn’t Want You Knowing

by Jackie Lam on May 10, 2017
When looking for the best banks for small business loans, Bank of America and Wells Fargo may come to mind. However,… Read more

An Epic Guide to Business Credit Cards, Charge Cards, & Lines of Credit

by Eric Goldschein on February 2, 2017
If you’re a small business owner, you know how important it is to always have extra capital on hand so you… Read more

A Complete Declassified List of Tax-Exempt Fringe Benefits

by Amy Fontinelle on January 30, 2017
With all the uncertainty surrounding Trump's tax plan, tax saving tips for small business owners are as important as ever. Finding… Read more

Hero Companies Who Are Helping Small Businesses Succeed

by Caitlyn Rose on January 19, 2016
These are challenging times for small businesses. Luckily, however, the news isn’t all bad. Read on to learn about three… Read more

Bank Turn You Down For A Business Loan? Here’s How You Can Get Alternative Funding

by Caitlyn Rose on January 7, 2016
If you're like most small business owners, your first stop for financing needs might be your local bank. Unfortunately, the… Read more

Corporate Bylaws: Why Your Business Can’t Function Without Them

by Ronis Gracie on December 10, 2015
While “corporate bylaws” may sound like something that only giant companies need, the reality is that every corporation has to… Read more

An In-Depth Look at How Invoice Financing Works

by Ronis Gracie on November 30, 2015
As a business owner, you probably experience a multitude of small frustrations each day. But perhaps one of your biggest… Read more

Minorities, Women, and Veteran Business Owners – Get Extra Funding Here

by Ronis Gracie on May 15, 2017
Keeping a business afloat can certainly be a challenge, particularly during rocky economic times. No matter how poor sales may… Read more

Complete Business Funding Glossary – 2017 Edition

by Ronis Gracie on March 1, 2017
When you were a kid, you probably had a special group of friends who stayed together no matter what. You… Read more

A Complete Guide to Business Loans for Funding a Bar

by Ronis Gracie on January 16, 2017
One of the most exciting and rewarding types of businesses to operate is a bar. Whether you run a neighborhood… Read more

New Ways to Get Money Out of Your Business That You Might Not Have Thought Of

by Ronis Gracie on November 17, 2016
You have finally reached that milestone you have anticipated for so long: Your business is making a reliable profit. As… Read more

Infographic: The Rise of Marketplace Lenders

by Caitlyn Rose on January 12, 2016
Sooner or later, most small businesses will require an infusion of cash. The need might arise almost immediately during the… Read more

Bank Turn You Down For A Business Loan? Here’s How You Can Get Alternative Funding

by Caitlyn Rose on January 7, 2016
If you're like most small business owners, your first stop for financing needs might be your local bank. Unfortunately, the… Read more

5 Types of Grants For Women-Owned Businesses

by Caitlyn Rose on December 29, 2015
If you are a woman thinking about starting a small business, you are part of a growing trend. Since 1997,… Read more

Your First Small Business Loan: What You Need to Know

by Caitlyn Rose on December 16, 2015
When you set out to find the first loan for your small business, you’ll probably have many questions but few… Read more

Interest Rate versus APR: What You Need to Know to Price a Loan

by Ronis Gracie on December 8, 2015
Small business loan terminology is complex, and many of the terms are similar enough to be confusing. Two such phrases… Read more