Latest news with #SmallBusiness
Yahoo
4 hours ago
- Politics
- Yahoo
Rechie Valdez makes history with cabinet position: 'People aren't used to someone who looks like me'
Many of us who watched Prime Minister Mark Carney's swearing-in ceremony on the morning of May 13 most likely noticed that when Rechie Valdez took the oath as Minister of Women and Gender Equality and Small Business (WAGE), she was overcome with emotion. 'It was a profound moment for me,' Valdez tells Yahoo! via Zoom from her office in Ottawa. Valdez became the first Filipino-Canadian woman elected to Parliament and cabinet minister. 'My husband and children were in the room, but more than that, my parents were watching from Mississauga,' she says. 'They had uprooted their lives twice: from the Philippines to Zambia, and then later from Zambia to Canada. They made incredible sacrifices to give my brother and me a better life — so during the swearing-in, all of the memories of that sacrifice just came rushing back.' The Prime Minister personally approached Valdez to take on the responsibility. 'When he contacted me and asked me if I would take on the role, I was profoundly taken aback and in tears. I was also jumping for joy,' she says, throwing her arms in the air to demonstrate her internal reaction at the time. 'But I calmly said, 'Thank you for the opportunity, Prime Minister,'' she adds, laughing. The department of WAGE was previously aligned with Youth under Marci Ien, until she resigned on March 7. Then, after Carney was sworn in on March 14 (after former Justin Trudeau stepped down), the department was downgraded under the ministry of Canadian Heritage helmed by Stephen Guilbeaut. Many women's right activists, including former minister Marci Ien herself, were taken aback at the Carney government's initial decision to cut the ministry and called the move a significant setback for women. Weeks before the April 28 election, there was a lot of lobbying and back channel movement going on behind the scenes to bring the ministry back if the Liberals won the election — something Conservative Leader Pierre Poilievre likely wouldn't have done had he won. But all of that is in the past, and Valdez is focused on the future. This time, instead of being aligned with Youth, Small Business has been added to the file — something that fits Valdez, previously the minister of Small Business — really well. 'I think this alignment of WAGE to Small Business is a profound opportunity because, while it's a very social portfolio in that it advocates for women and gender-diverse people, it also creates empowerment for these people through our economy,' she says. Valdez, who says she faced many challenges in her own experience as a visible minority woman entering the workforce as a corporate banker, and later, as an entrepreneur. 'The journey was difficult and I know what it feels like,' she says. With the new ministry, Valdez wants to make it her mandate to help women and gender-diverse people see their power and true potential. That's why the economic slant is especially vital in our times, she says. 'What we're seeing down south with the rollback of DEI [Diversity, Equity, and Inclusion], it's very scary and worrisome to us,' Valdez emphasizes. 'Women are afraid, and 2SLGBTQ+ people are afraid because we've made so much progress in our country. You simply cannot be the strongest economy in the G7 without the inclusion of women and gender-diverse people,' she says, adding dryly: 'We only make up half the population.' Being the former Minister of Small Business also gives her a unique perspective. 'I think our women entrepreneurship strategy, for example, is truly an investment,' she says. 'It can actually even prevent gender-based violence because it's empowering. Meeting with many women entrepreneurs across the country, and seeing the impact they have within their community will have a ripple effect.' Valdez is excited about working across the different provincial and territorial governments, and bringing inclusivity to rural and remote communities. 'As we roll these programs out, it does go down to that individual woman and gender-diverse person; that entrepreneur on the ground. That's my number one job as the communicator of the things we're doing at the federal level.' Valdez, was at one time, that entrepreneur on the ground herself. Long before the 45-year-old got into politics, she worked for the financial sector. 'I had never had dreams nor had ever envisioned myself as a politician,' she says. What changed for Valdez was when her daughter, Cassidy, turned a year old. 'That's when I made her first birthday cake,' she remembers. 'I'll never forget it because I felt like I had found a creative passion.' She turned the passion into a small business. 'It was an incredible journey building my business from the ground up for the world to see,' she says. 'It was a way to find my voice.' What Valdez learned at that time is something she brings with her in her role as minister of WAGE. 'The thing about being a sole proprietor entrepreneur is that if you work on an island, you're setting yourself up to fail.' She realized there was strength in collaboration and reached out via social media, creating events and opportunities for other entrepreneurs. 'I saw the value of bringing community together.' She sees her new role as an extension of that. 'It allows me to advocate for the larger community and be the voice for the voiceless,' she says. What makes Valdez a unique voice is that there hasn't been a Filipino voice in federal politics for 17 years. 'Being the only Filipino out of almost a million Filipinos in the country, and being that voice to stand up for the things that matter to me is so important to me,' she says. As someone who has experienced both racism and sexism on a daily basis at times, Valdez feels she is in the best position to understand the plight of those afflicted by the same. 'It's not something that happens just once in a while,' she says. 'I definitely experienced both, especially online. Whether it's hate, misogyny, being a person of colour, and even just being a person on the hill every day, it can be a challenge because people aren't used to someone who looks like me,' she explains. 'I would be stopped and ID'd on a regular basis even though I'm a federal minister — that's pretty telling.' That's why representation is so important, she says. 'It's about facing those challenges head on.' When it comes to women and gender equality, Valdez believes we have come a long way, but that we also have a long way to go. 'I was recently at a conference that had to do with trades,' she says. 'I was pleasantly surprised when one of the members of the trade groups came up to me and said he was excited about WAGE. He said he's seen the impact women are making in trades and the support they're getting from the Immigration, Refugees, and Citizenship Canada (IRCC), like the Canada Child Benefit, and others. They've seen the impact for women who choose trades as a future career. These are the opportunities in a place I would never expect, and that's the impact of WAGE.' Valdez's main priorities for the department will be gender-based violence and advancing economic justice for women and gender-diverse people. 'We can't just stop at crisis response — we really need that structural change,' she asserts. 'We also want to ensure that Canada leads in this space. Gender equality isn't just a social issue, it's imperative to our economy and to the sustainability of our country. Marci Ien handed me a beautiful baton, but there is still much more work to do.'
CNET
6 hours ago
- Business
- CNET
Etsy Is Clamping Down on 3D Printed Products. Here's How It Could Affect You
It feels like everyone needs a side hustle these days. If your hobby can help make you some extra income, it seems like a no-brainer to at least try and do it. 3D printing, laser engraving and using vinyl cutters like the famous Cricut machine all give you a chance to make something beautiful, unique and sellable. Etsy has been the storefront of choice for almost 20 years, and despite other options being available, it still boasts 8.13 million active sellers in 2025, according to a recent Contimod report. Recently, the company has clarified its policies surrounding the "Made by a Seller" category, specifically relating to "items produced using computerized tools." The updates are subtle but could fundamentally change the way a lot of small businesses operate moving forward. Are all of these the same dragon, or are they different enough to be unique? Etsy/Screenshot: James Bricknell/CNET If you've ever searched for 3D-printed dragons on Etsy, you will likely have seen a screen like the one above. While each dragon looks very similar -- they are all articulated with little to no painting -- no two are the exact same. Almost all of the dragons you will see have been made by a small group of designers who license their digital models out to the Etsy seller, who use small print farms, or even single 3D printers, to print the physical model for sale. Etsy's latest update to its company policy around computerized tools has removed a key component that allowed for this type of licensing, leaving many sellers confused as to where they stand. Items produced using computerized tools: Physical items that a seller produced in their personal shop or home, using computerized tools such as a laser printer, 3D printer, CNC or Cricut machine. These items must be produced based on a seller's original design and are often personalized or customized to a buyer's specification. An Etsy spokesperson told me that the above policy has always been Etsy's standard position on products that are made by sellers. The area I have added emphasis to is the part that has been edited. Originally, the Etsy guidelines included the phrase "...or using a templated design or pattern..." which seemed to allow for the use of designs from 3D modelers. By removing this section and keeping the part about the original design, it seems to say that each seller must design the digital file themselves, as well as print it out, post-process it and ship it out. Etsy has said this update in policy is to clarify its position, rather than change it. According to the creative guidelines, an item that doesn't qualify is "A commercially available base item with only superficial alteration, such as addition of a simple, mass-produced stick-on adornment." The sticking point seems to be the "commercially available" part, as a lot of 3D print sellers on Etsy use a commercial license from 3D modelers as a source to create physical models. The business of 3D printing Patreon/Screenshot: James Bricknell/CNET 3D modelers that sell commercial licenses through sites like Patreon, Thangs, and Printables have sprung up over the last few years, to much success and accolades across the 3D printing space. Christian, or CraftyKid3D, as he is known on Patreon and social media, creates 3D models based on books and reading, including beautiful dragon bookends and small book holders to help you hold your paperbacks open. His Patreon has a commercial license tier that allows you to sell physical copies of his digital models online or at craft fairs and farmers' markets. He currently has 860 Patreon subscribers, whose $10 per month subscriptions make up a significant portion of his income. Etsy's updated policy is likely to significantly reduce Christians subscribers' ability to use the models he releases on that platform, causing both his and his subscribers' ability to sustain themselves. Worse, because the policy is vague, Etsy sellers could find themselves in violation by not knowing where the line is drawn. Even Etsy's own customer service seems to be confused, offering contradicting answers to questions asked by sellers. Two different responses to the same questions. CraftyKid3D/STLFlix/Screenshot: James Bricknell/CNET My colleague and fellow 3D printing enthusiast, Russell Holly, said the vagueness may be the point of the phrasing. "I suspect the current guidance is vague on purpose to discourage these mass production groups from making one small change and moving on, but that reality is inevitable." My question in answer to this is, where is the line for making small changes, and who else does it affect? James Bricknell/Russell Holly/CNET These two prints are clearly the same model, but each of us used a different color material and a different level of effort to paint the model in the slicing software. Digital files can be "painted" in the software to assign different colors to certain areas of the print. My copy (at left) is a fairly easy two-tone change to give me a brown front of the house surrounded by green, but Russell's (right) uses different colors and has had more time spent delineating which areas are which colors. This is a digital process to be sure, and not as manual as, say, weeding a Cricut vinyl and sticking it onto a Stanley tumbler, but it still takes time and effort and changes the look and feel in a material way. The question then becomes, what is enough of a change to constitute an original piece? That'll be up to Etsy to decide on a case-by-case basis, which itself offers a lot of issues. Policing a site as big as Etsy is incredibly difficult and relies heavily on IP infringements being reported by the holders of that IP. This isn't the same scenario as the creators of the 3D models actively approve of people using them to produce physical copies, so they wouldn't report the use to Etsy. This means Etsy will have to spend resources on policing these models themselves. It has been said that Etsy uses reports from other sellers to take down IP violations, but in its handbook it states that it doesn't "...accept reports of infringement by just anybody — only from the intellectual property owner or the owner's authorized agent..." so it's unlikely it will go that route, but they will have to do something if they want anything to actually change. In conversation with me and other members of the CraftyKid3D Patreon community -- I am a member, and use his models to test the best 3D printers -- Christian expressed his concern that Etsy would have trouble enforcing this policy change. "Etsy has always been poor on moderation. It's the companies like Universal, Sony, Disney, that will contact Etsy to remove copyright products. But even Etsy can't keep that under control." He went on to say, "Unless they have new tech, I highly doubt they can enforce this...." What does this policy mean for you as a seller? The helmet on the left likely wouldn't be covered by Etsy's policy, but the one on the right would. James Bricknell/CNET If you use Etsy to sell your 3D-printed products, you're going to need to think about what products you make and how much you're willing to alter them. One of the biggest profit considerations is how long it takes to post-process a 3D-printed model. The most profit always comes from something that can be sold with some basic cleanup and not much else, so if you have to spend time and materials to alter a print significantly, your profit margin decreases. Holly said, "If you've printed a cosplay helmet designed by someone else but then gone through the work of sanding and painting and all of that, it's no longer the same thing it was when it came off the printer and would not be subject to this policy." I agree with him that this use case would almost certainly be allowed by Etsy, but we don't have a clear idea if that's true. In this picture, you can see two Mandalorian helmets that I've printed. The one on the left is the original file with no alterations except that I printed it in a soft PLA so my daughter could wear it without fear of breaking it if she dropped it. It took me a little time to remove the supports and clean it up, but I could have sold it for a good profit because it's a different way to print helmets. The one on the right took a lot of time. The steps I had to go through were: Remove the 3D printed supports Sand the whole helmet until smooth Fill any layer lines left over from the first sanding Sand the dried filler so that everything is smooth and even Spray filler/primer over the helmet to create a uniform layer Spray the helmet with a black gloss undercoat Spray the helmet with a silver paint Glue the separate ear pieces on Spray with a clear gloss to protect the silver paint Now, I can sell this second helmet on Etsy. I'm sure the policy would cover this kind of adjustment, and I could even turn a decent profit, but it would be far less than the profit from the first helmet, even though I could charge a lot more for it. I don't think the first helmet would qualify as my original design, though. If your business relies on the files of others, be it articulated dragons from Cinderwing or book nooks from CraftyKid3D, you likely already sell them in other storefronts like Facebook Marketplace or Amazon's handmade site, as well as at physical locations. If you don't, it may be worth diversifying where you sell. There are so many things that we don't know about how Etsy will police its amended policy, that having other revenue avenues is a good idea. It will be interesting to see how far this change will go. Will Cricut makers need to design their own decals instead of buying commercially available SVGs? Will laser-engraving makers need to do the same? The entire maker community uses these kinds of services, and it has empowered a huge business sector that turned hobbies into a legitimate way to make an income. According to Contimod, 34% of all sellers on Etsy cite it as their only source of income so the potential loss is considerable. Etsy isn't the only storefront out there, but it is one of the largest, and its decisions here could have a lasting impact across this sector.
Yahoo
a day ago
- Politics
- Yahoo
Rechie Valdez makes history with cabinet position: 'People aren't used to someone who looks like me'
Many of us who watched Prime Minister Mark Carney's swearing-in ceremony on the morning of May 13 most likely noticed that when Rechie Valdez took the oath as Minister of Women and Gender Equality and Small Business (WAGE), she was overcome with emotion. 'It was a profound moment for me,' Valdez tells Yahoo! via Zoom from her office in Ottawa. Valdez became the first Filipino-Canadian woman elected to Parliament and cabinet minister. 'My husband and children were in the room, but more than that, my parents were watching from Mississauga,' she says. 'They had uprooted their lives twice: from the Philippines to Zambia, and then later from Zambia to Canada. They made incredible sacrifices to give my brother and me a better life — so during the swearing-in, all of the memories of that sacrifice just came rushing back.' The Prime Minister personally approached Valdez to take on the responsibility. 'When he contacted me and asked me if I would take on the role, I was profoundly taken aback and in tears. I was also jumping for joy,' she says, throwing her arms in the air to demonstrate her internal reaction at the time. 'But I calmly said, 'Thank you for the opportunity, Prime Minister,'' she adds, laughing. The department of WAGE was previously aligned with Youth under Marci Ien, until she resigned on March 7. Then, after Carney was sworn in on March 14 (after former Justin Trudeau stepped down), the department was downgraded under the ministry of Canadian Heritage helmed by Stephen Guilbeaut. Many women's right activists, including former minister Marci Ien herself, were taken aback at the Carney government's initial decision to cut the ministry and called the move a significant setback for women. Weeks before the April 28 election, there was a lot of lobbying and back channel movement going on behind the scenes to bring the ministry back if the Liberals won the election — something Conservative Leader Pierre Poilievre likely wouldn't have done had he won. But all of that is in the past, and Valdez is focused on the future. This time, instead of being aligned with Youth, Small Business has been added to the file — something that fits Valdez, previously the minister of Small Business — really well. 'I think this alignment of WAGE to Small Business is a profound opportunity because, while it's a very social portfolio in that it advocates for women and gender-diverse people, it also creates empowerment for these people through our economy,' she says. Valdez, who says she faced many challenges in her own experience as a visible minority woman entering the workforce as a corporate banker, and later, as an entrepreneur. 'The journey was difficult and I know what it feels like,' she says. With the new ministry, Valdez wants to make it her mandate to help women and gender-diverse people see their power and true potential. That's why the economic slant is especially vital in our times, she says. 'What we're seeing down south with the rollback of DEI [Diversity, Equity, and Inclusion], it's very scary and worrisome to us,' Valdez emphasizes. 'Women are afraid, and 2SLGBTQ+ people are afraid because we've made so much progress in our country. You simply cannot be the strongest economy in the G7 without the inclusion of women and gender-diverse people,' she says, adding dryly: 'We only make up half the population.' Being the former Minister of Small Business also gives her a unique perspective. 'I think our women entrepreneurship strategy, for example, is truly an investment,' she says. 'It can actually even prevent gender-based violence because it's empowering. Meeting with many women entrepreneurs across the country, and seeing the impact they have within their community will have a ripple effect.' Valdez is excited about working across the different provincial and territorial governments, and bringing inclusivity to rural and remote communities. 'As we roll these programs out, it does go down to that individual woman and gender-diverse person; that entrepreneur on the ground. That's my number one job as the communicator of the things we're doing at the federal level.' Valdez, was at one time, that entrepreneur on the ground herself. Long before the 45-year-old got into politics, she worked for the financial sector. 'I had never had dreams nor had ever envisioned myself as a politician,' she says. What changed for Valdez was when her daughter, Cassidy, turned a year old. 'That's when I made her first birthday cake,' she remembers. 'I'll never forget it because I felt like I had found a creative passion.' She turned the passion into a small business. 'It was an incredible journey building my business from the ground up for the world to see,' she says. 'It was a way to find my voice.' What Valdez learned at that time is something she brings with her in her role as minister of WAGE. 'The thing about being a sole proprietor entrepreneur is that if you work on an island, you're setting yourself up to fail.' She realized there was strength in collaboration and reached out via social media, creating events and opportunities for other entrepreneurs. 'I saw the value of bringing community together.' She sees her new role as an extension of that. 'It allows me to advocate for the larger community and be the voice for the voiceless,' she says. What makes Valdez a unique voice is that there hasn't been a Filipino voice in federal politics for 17 years. 'Being the only Filipino out of almost a million Filipinos in the country, and being that voice to stand up for the things that matter to me is so important to me,' she says. As someone who has experienced both racism and sexism on a daily basis at times, Valdez feels she is in the best position to understand the plight of those afflicted by the same. 'It's not something that happens just once in a while,' she says. 'I definitely experienced both, especially online. Whether it's hate, misogyny, being a person of colour, and even just being a person on the hill every day, it can be a challenge because people aren't used to someone who looks like me,' she explains. 'I would be stopped and ID'd on a regular basis even though I'm a federal minister — that's pretty telling.' That's why representation is so important, she says. 'It's about facing those challenges head on.' Whether it's hate, misogyny, being a person of colour, and even just being a person on the hill every day, it can be a challenge. When it comes to women and gender equality, Valdez believes we have come a long way, but that we also have a long way to go. 'I was recently at a conference that had to do with trades,' she says. 'I was pleasantly surprised when one of the members of the trade groups came up to me and said he was excited about WAGE. He said he's seen the impact women are making in trades and the support they're getting from the Immigration, Refugees, and Citizenship Canada (IRCC), like the Canada Child Benefit, and others. They've seen the impact for women who choose trades as a future career. These are the opportunities in a place I would never expect, and that's the impact of WAGE.' Valdez's main priorities for the department will be gender-based violence and advancing economic justice for women and gender-diverse people. 'We can't just stop at crisis response — we really need that structural change,' she asserts. 'We also want to ensure that Canada leads in this space. Gender equality isn't just a social issue, it's imperative to our economy and to the sustainability of our country. Marci Ien handed me a beautiful baton, but there is still much more work to do.'
Yahoo
2 days ago
- Business
- Yahoo
Pros and cons of equipment loans
Equipment loans can be used to purchase large assets for lower rates and easier approval than unsecured loans. Equipment loans are easy to qualify for and are offered through a variety of bank and online lenders. If you fail to pay your equipment loan on time, the lender may seize the equipment to recoup their loss. If you don't have thousands of dollars in the bank to buy business equipment, then an equipment loan can get you what you need. Equipment loans can finance office furniture, point-of-sale systems, trucks, cars, farming machinery and more, making them a versatile option for business owners looking for funding. The equipment you finance also acts as collateral, lowering your borrowing costs and making your application more appealing to lenders. As such, equipment loans can be a good option if you have a lower credit score or low time in business. According to the Federal Reserve Banks' 2024 Small Business Credit Survey, 68 percent of auto or equipment loan applications were fully approved, the highest approval rate of any loan type. While equipment loans can help companies purchase essential machinery or equipment, it's important to consider the pros and cons of equipment loans before signing on the dotted line. Flexible financing Lower approval requirements Credit-building opportunities Built-in tax breaks Ownership instead of renting Limited to financing equipment May require a down payment Loan could outlast life of equipment Maintenence costs extra Lender can seize the equipment if you default If you need to acquire equipment for your business, there are lots of pros to using an equipment loan. Equipment loans can be used to fund a variety of equipment types, from computers to construction equipment. This type of financing also saves you from having to tie up large sums of cash purchasing equipment. With a loan, you spread the cost over the life of the loan, which can be anywhere from three and 10 years. Longer terms can mean lower monthly payments, though with the interest rate, you may end up paying more interest overall. Many lenders offer relatively quick funding for equipment loans, especially if you go with an online lender. You may be able to receive funds in as little as 24 to 48 hours. Banks may take up to a week to approve funding, though their underwriting process is faster for this type of loan than with unsecured loans. Getting any kind of loan can help your company build credit, but an equipment loan is one of the easier ways to start building credit. They're usually easy to qualify for, even if your company has no operating history. Just be sure to make your payments on time to avoid any hits to your credit. Section 179 of the IRS tax code allows you to write off the total cost of the equipment or machinery the year you bought it, even though you're making payments and don't yet own it in full. Depending on the equipment value, this can result in considerable tax savings. Starting in the tax year 2024, the maximum section 179 expense deduction is $1,220,000, and the total equipment value for the 2025 tax year is $3.13 million. Leasing equipment is like renting, you pay to borrow it but then have to return it without getting any of the investment benefits. When you finance business equipment, you get to keep it even after paying off the loan. This is especially beneficial for equipment that will last longer than your loan term, such as office or restaurant furniture and farm equipment. Bankrate insight Equipment leasing is a common alternative to equipment financing. It involves renting the equipment from the leasing company for a specific term. Leasing can be beneficial because it often comes with a lower monthly payment and lower or no down payment. However, you won't own the equipment at the end of the lease unless the lease comes with an equipment buyout option. Before getting an equipment loan, you have to consider the drawbacks before applying. Equipment financing is limited in use. You can only use it to purchase or repair equipment and only equipment that the lender agrees is adequate to serve as collateral. If you need funding for other purposes, you'll have to look at other types of business loans. Many equipment loans require a down payment of as much as 20 percent of the equipment's cost. If you're buying expensive equipment, you might need a lot of cash, or you may have to look into leasing if you can't afford a sizable down payment. There's a chance, especially if you get a long-term loan, that the loan will outlast the equipment you purchase. For example, if you get a 10-year loan, but the equipment breaks after five years, you're stuck with five years of payments for something you can't use anymore. Even if it doesn't break, it may still wear out, become less useful, or become obsolete. Before signing for equipment financing, make sure the equipment is in good shape and will outlast your loan term. You could also look into getting a warranty or insurance on the equipment to cover major repairs, extending its usable life. Just like financing a vehicle, you're still responsible for maintenance costs and repairs if the equipment breaks down while you're making payments on the loan. Though some maintenance is routine and expected, the equipment may break down at any time, increasing the overall cost of owning it. If you fail to make payments and default on the loan, the lender has the right to seize the equipment and sell it to recoup the loan cost. You will lose all the value that you invested into the equipment. To avoid this scenario, ensure that you can easily manage loan repayments, fitting the repayments into your business budget. If your business revenue takes a hit during the loan and you think you'll miss a payment, contact the lender to see if they will work with you. An equipment loan makes sense for your business if: You can't afford to buy equipment outright You want to own the equipment at the end of the loan You're looking for the lowest overall loan costs You want to keep liquid cash on hand for other business needs You're willing to use the equipment as collateral for the loan If you don't want to use the equipment as collateral, you may be better off with other business loans, like an unsecured term loan or a line of credit, though this can come with higher interest rates and approval requirements. If you don't have great credit, such as a 500 personal credit score, you might look into alternative financing, like a merchant cash advance. Whether you finance your equipment purchase depends on how much capital your business has and how much extra you're able to pay for equipment purchases. Many businesses use an equipment loan to help them keep cash reserves and cash flow within their business, paying off the equipment in small increments. If you have plenty of capital, you could save money on interest by buying the equipment outright. Equipment financing is flexible and widely available, even for startups and businesses needing bad credit financing. Shop around to compare equipment loans from a few sources to ensure you get the best rate and lowest fees. You can also compare equipment loans with other top loans on the market to make sure you're choosing the best option. What credit score do you need for equipment financing?One of the benefits of equipment financing is that it's easier to qualify for than other loans. Each lender will set its own minimum credit score requirements, but a minimum personal credit score of 600 isn't unusual. Keep in mind that a credit score is just one factor lenders consider. They'll also examine your revenue, operating history, down payment, and other factors. What equipment can be financed?You can finance almost any equipment for a business, from heavy equipment to storage tools to IT systems. Examples include cranes, excavators, trucks, servers, software, computers, food packaging tools, industrial coolers and box makers. How hard is it to get an equipment loan?Equipment loans are typically not hard to get. You can qualify for one with moderate credit and a sufficient down payment, even if you're running a startup. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Finextra
12-06-2025
- Business
- Finextra
PNC rolls out mobile payment acceptance tool for mciro-businesses
PNC Bank announced the launch of PNC Mobile Accept, a fully integrated payment solution that provides its micro business clients with the ability to accept in-person credit and debit card payments directly within the PNC Mobile app. 0 Designed for businesses processing less than $300,000 in credit and debit card transactions annually, PNC Mobile Accept is a self-service solution that gives business owners fast, secure access to accept funds directly from their phone or tablet with no monthly fee. 'Micro businesses are often left behind by traditional card payment solutions due to high fees, restrictive card programs and approval delays,' said Matt Evans, head of PNC Merchant Services for Small Businesses. 'With PNC Mobile Accept, we're meeting small businesses where they are, delivering enterprise-grade payments capabilities at micro business scale - fast, affordable, and accessible.' PNC Mobile Accept enables card payments through manual entry or via a pocket-sized reader that supports tap, dip, or swipe transactions. The solution boasts enhanced features like tax-and-tip functionality, cardholder data encryption, and near real-time transaction tracking, bringing consumer-grade ease to business-grade payments. Additionally, business owners can accept card payments from all credit card providers and access funds from transactions typically within two business days. This solution is ideal for micro businesses that are always on the go, and until now, lacked an easy way to accept card payments. PNC small business clients with an active PNC business checking account can apply for PNC Mobile Accept in all PNC Bank branches and online.
