"16 Financial Strategies For Physical Stores In An E-Commerce Economy

Brick-and-mortar stores have been feeling the effects of the growing shift toward e-commerce for years. During the ongoing Covid-19 pandemic, many that had held out on online selling have made the leap to stay afloat, as consumers’ shopping habits have gone increasingly digital.In-person shopping may be down, but it’s unlikely that it’s gone for good. Still, if much of your revenue depends on your brick-and-mortar store, you’ll need smart financial strategies to remain competitive and keep up with retailers that exclusively sell online. To help, we asked a panel of Forbes Finance Council members for their advice... 15. Differentiate your business through personal service.Brick-and-mortar businesses can offer local delivery as a service to compete with e-commerce plays. Brick-and-mortar businesses should also focus on business differentiation. What differentiates your products or business in such a way that customers are buying your business and not just a product? Focusing on personal service also serves to distinguish your business in a crowded online marketplace. - George Souri, LQD Business Finance" Read the full article in Forbes. 

"More and more people are turning to freelance work to either supplement their income or as their full-time career. But while joining the gig economy can boost your bank account and let you pursue a variety of interesting projects, it also comes with some extra responsibilities.5. Consult your tax advisor before beginning.Freelancing is a great way to earn income, but remember it’s still income, which means that you have to track it and report it or you will end up with a big tax liability. Ask your tax advisor ahead of time if there are expenses you can deduct from your freelance income, and make sure you track these ahead of time rather than at the last minute. - George Souri, LQD Business Finance"Read the full article via Forbes.

"LQD Business Finance, a Chicago-based tech-enabled alternative lender, launched development of a Bitcoin business lending platform.According to LQD Business Finance, the platform will make it the first company to use Bitcoin as currency for commercial loans. While Bitcoin can be used as collateral to obtain a loan currently, the company’s platform will use Bitcoin as a lending currency.LQD Business Finance’s platform will achieve this goal in two ways. First, LQD Business Finance will build upon the Provenance blockchain for the process of documenting and packaging loans. Secondly, the company’s platform will lend in Bitcoin.“Bringing increased efficiency and accuracy to commercial lending [is] at the core of LQD’s DNA. Adding a blockchain to our existing tech-stack enables us to better achieve that goal,” George Souri, CEO of LQD Business Finance, said. “Major players are now starting to see Bitcoin as a usable currency, and we see this trend continuing. LQD’s platform will allow investors and business borrowers to benefit from this trend by creating a market in which private debt demand and Bitcoin holders can efficiently transact.”LQD Business Finance currently services the private debt market as an alternative lender.“While LQD is involved in lending, what we really are is an inventions company looking to bring greater efficiency and accuracy to private debt markets. We see ourselves as the Amazon of private debt. So, our move to innovate in crypto-debt is a natural continuation of our core mission” Souri said."See the full article on ABF Journal here.

LQD Business Finance featured in Daily Finance as a top finance company in Chicago."LQD Business Finance is a Chicago-based, technology-enabled company that provides small and medium sized businesses with structured loans. The company develops a whole-business financing solution through a single loan product that meets all the aspects of a business' financing requirements such as acquisition, working capital, purchase orders, and refinancing solutions...It evaluates the risk of each potential loan by using a proprietary risk management and backing software known as LQD Matrix.."Read the full article from here.

LQD Business Finance featured in Welp Magazine as a top finance company in Chicago."LQD Business Finance is a Chicago-based, technology-enabled company that provides small and medium sized businesses with structured loans. The company develops a whole-business financing solution through a single loan product that meets all the aspects of a business' financing requirements such as acquisition, working capital, purchase orders, and refinancing solutions...It evaluates the risk of each potential loan by using a proprietary risk management and backing software known as LQD Matrix.."Read the full article from Welp Magazine here.

"LQD Business Finance, a Chicago-based commercial lender, announced the promotion of Jack Zeng to Chief Technology Officer. In his new capacity, Zeng will be leading all efforts behind the company’s automation and technology solutions to continue expanding the capacity of its proprietary lending systems.As LQD Business Finance continues to compete in the private debt market, Zeng’s leadership will be instrumental in broadening the company’s portfolio, with a focus on further streamlining and innovating methods of business development and operations.“Jack is a creative thinker and problem solver who embodies the values of excellence at LQD, and we are pleased to have him on our leadership team,” said CEO, George Souri.Since joining LQD Business Finance in January of 2020, Zeng has made extensive contributions as Director of Automation and Special Solutions to building and deploying the advanced processes that drive the company’s unparalleled lending model and proprietary technology. Zeng was also an integral part of launching the LQD PPP Platform, an end-to-end solution for managing PPP applications, in under a month’s time.“As LQD starts to offer our industry-leading approach to managing financial processes as a platform for other businesses, it has never been more important for the technology team to focus on the business value technology helps deliver,” said Zeng. “A successful CTO at LQD is the techie who gets all the blame when things go wrong and stays anonymous when things go right. I am excited about the challenge, and I look forward to becoming unnoticed in this role.”Previously, Zeng was the founder of Shanghai Bailiang Investment and Management, a private fund management firm specialized in quantitative trading in China. He also held positions at IBM and PwC with a focus on leading implementations of global content management and regulatory submission systems. He brings over 20 years of experience in business consulting and development, with an emphasis on process improvement and computerized system implementation and integration. "Read the full article on ABL Advisor.

CEO of LQD Business Finance, George Souri, weighs in on a recent Forbes Finance Council article discussing matters to consider when funding your business with a personal loan. Take a peek within the article and check out Souri's insight within the piece.

"Funding Your Business With A Personal Loan? 14 Things To Consider First

Starting a business can be a costly endeavor, but there are many financing options that can help you fund a startup. One popular option for entrepreneurs who don’t want to pursue venture capital or give away equity in the business is taking out a personal loan.While personal loans can be an easily accessible financing option, you should think long and hard before going through with this or any other funding plan. To help inform your decision, we asked a panel of experts from Forbes Finance Council about the most important considerations an entrepreneur needs to remember before securing a personal loan to fund their business. Here’s what they shared.1. It’s getting cheaper to run a business.I would encourage entrepreneurs to remember that the cost of doing business is getting cheaper with every passing year. Additionally, most markets are developed enough to have financiers out there who can support emerging businesses at any stage of growth—if you look hard enough. I believe that bootstrapping a business until you find partners who can help take it to the next level is the best way. - Guan Zhen Tan, Point Hope 2. You should ask a professional if a personal loan is the right path for you.The most important factor when it comes to loans is to have a solid credit history. But even if you have a perfect credit score, the most important consideration should be to assess your finances with a professional to find out if it’s a good fit for you. Always have a specific repayment plan, and don’t simply take the first offer—compare different loans and get the best interest rate available. - Gabriela Berrospi, Latino Wall Street3. You need to know exactly what the money will be used for, and why.Be very specific about what the money will be used for and when you will pay it back. We recently took out a loan to bulk buy software licenses so that we could offer a lower price to our customers, driving higher engagement. We knew that the loan was temporary, and I had a plan in place to get the burden off my back. - Marjorie Adams, Fourlane 4. You’ll probably have to put up personal collateral.Many banks and credit facilities require a pledge of all of your personal assets, and this pledge may limit your ability to borrow additional funds as your business grows. Having your personal residence as collateral may add stress to your personal relationship since the bank may also require your spouse’s personal guarantee. If there is a blip in the business it could lead to the loss of your residence. - Joseph Ingrassia, Capstone Capital Group, LLC5. Make sure you understand and are comfortable with the level of risk. How is the debt being secured? If you have to put up your house as collateral, make sure you are comfortable with that level of risk and confident in your growth plan. I try to help my clients find the lowest interest rates on loans that require the least amount of personal collateral. This helps them sleep better at night so they can focus on growing their businesses. - Mia Erickson, Whitnell6. Watch out for predatory lending practices.Business owners should ensure they are agreeing to fair and transparent terms. Too often, lenders seek to exploit vulnerable small-business owners through predatory practices like excessive interest rates or hidden fees. Business owners should also carefully read the terms of their loans and check if their lender has signed the Small Business Borrowers’ Bill of Rights. - Luz Urrutia, Opportunity Fund7. You need to budget to cover the loan payments.Before signing on the dotted line, develop your budget to ensure your business can operate with the added cash outflow of the loan payments—and be realistic. Income is not going to magically increase because of the loan. In reality, expenses may need to be cut to service the debt. This may include reducing your compensation. Once you have faced that reality, you can better decide about the loan. - David Singleton, Seiler, Singleton & Associates, PA

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Forbes Finance Council is an invitation-only organization for executives in successful accounting, financial planning and wealth management firms. Do I qualify?

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8. Make sure your family supports the decision.It is difficult to start a business without any personal investment at all. However, before taking out a personal loan, make sure to discuss it with your family first. If your family is not 100% behind the decision you’re risking a lot more than a financial disaster if things don’t work out as planned. - Christoph Lymbersky, Visionary Founders Capital9. You may be able to find a hybrid solution.Funding a business with a personal loan is high-risk. If the business falters, so too could your personal circumstances. Lenders want you to have skin in the game, but find a hybrid solution whereby you are not over-invested. For instance, if you have a current life insurance appraisal, you can leverage that asset toward funding. Do a complete inventory and think creatively about funding alternatives. - Wm. Scott Page, LifeGuide Partners10. If you sign with partners, you may be responsible for their portion of the debt. If you sign on the dotted loan with a couple of business partners for a $3 million loan, you might think you’re responsible for just $1 million. But if the loan is “joint and several,” where two or more parties are jointly and separately liable for the full extent of the loan, you’re actually going to be on the hook for the full $3 million if your business partners aren’t able to pay. - Bill Keen, Keen Wealth Advisors11. If your business fails, you’ll still have to pay off the loan.The key consideration for taking out a personal loan is the sober reminder that the debt will remain if the business fails. While it is prudent to try and limit personal risk as far as possible, an entrepreneur asking a lender to risk capital should also be willing to stand behind the business. Before taking out a loan, owners need to seriously consider and be willing to take on the risks. - George Souri, LQD Business Finance..."Read the full article from Forbes here.

"The 21st century has made it much easier for small-business owners to access capital. Online lenders in particular can look like an attractive option to small-business owners looking for a quick cash influx, but it’s wise to be cautious.While there are many reputable online lenders out there, there are also some unscrupulous actors as well as potentially costly “features.” It’s important to research carefully before making a commitment. Below, 11 members of Forbes Finance Council share critical details entrepreneurs should be aware of when considering taking a loan from an online provider...5. You should focus on structure and lender reputation.Online lending is a great option for finding capital but requires adequate diligence by the borrower. Focus on structure and lender reputation when seeking financing online. Online lenders include reputable lenders that offer reasonable capital but also include predatory high-interest loans. Make sure you understand the loan structure and do your diligence in researching the lender. - George Souri, LQD Business Finance"Read the full article via Forbes.

"Some businesses are seasonal by nature. For instance, pool maintenance and landscaping businesses thrive in the summer, while snow removal companies and holiday gift shops see sales during the winter season.When the majority of your sales occur in a small window of time, you need a strong budget and operational strategy to keep yourself afloat during the off-season. To help, we asked a panel of Forbes Finance Council members how they recommend managing seasonal sales cycles.11. Know your base expense burn.A long cash conversion cycle (the number of days between paying costs and receiving payment from sales) can cause major cash flow issues—even for profitable businesses. This dynamic is compounded in the case of seasonal businesses. Knowing your base expense burn and reserving adequate cash for inventory purchases or slower-than-expected sales is critical to long-term seasonal business stability. - George Souri, LQD Business Finance..."Read the full article via Forbes.