Image By: Michael Rivera July 31, 2014
Of all the types of business lending that is out there from unsecured working capital lines of credit to complete business acquisition, it is my opinion that commercial real estate loans are the hardest to obtain.
And, not because these are such large transactions and not because commercial real estate portfolios in banks and other business lenders' hands have a lot of underperforming assets but because of collateral values [...]
As America's first peer-to-peer lending marketplace, our members have invested over $1 billion in people just like you. Prosper.com offers unsecured personal loans [...]
Or, a Small Business Loan ...
Intel Corporation is at it again and it is cool.
The mega company (which I use to work for as a Senior Financial Analyst in a $1 billion division) is really pushing its Intel® RealSense™ Technology which [...]
Bootstrapping your business is not really about getting a large lump sum of money like you would with a business loan. Instead, bootstrapping is about making it from minute to minute either finding just enough money to get this individual thing done or finding a way to getting it done without money.
In the end, the only thing that really matters is getting the thing done [...]
We help small businesses access fast, fair and flexible financing to expand, buy equipment and inventory, launch creative marketing programs, hire new employees or simply improve their everyday working capital. Amounts from $25,000 up to $500,000 at rates from 9.99% to 20.99% [...]
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Sure, you can sign up on a crowdfunding for equity platform. You can create your account and solicit your friends and family to visit your profile and you might even be able to get a few accredited investors to take an interest provided you meet their investment guidelines like a proven track record, huge market potential, a management teams that has already been there and done that and some type of barriers to entry like first mover advantage or some type of patented intellectual property. Sure, you can try [...]
Have bad credit? Think you can't get financing for your company? Think again.
While bad credit can hurt you from getting a traditional or conventional business loan, your personal credit score does not matter in all manners of financing especially when it comes to working capital [...]
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Gain immediate access to the exclusive benefits like Daily credit monitoring, Members-only access to custom tools, FICO Score alerts via email, text or iOS App and [...]
First things first. Let's start by understanding the process of a merchant or business cash advance.
Trista's Boutique (who just received a merchant cash advance) is a 3 store mid-sized retail establishment selling primarily imported women apparel [...]
Getting a business loan these days still remains difficult for the majority of businesses. Onerous underwriting processes, complicated regulations and lenders not willing to take any risk has crippled the capital markets over the last half decade.
But, that does not mean you should not try as a few good business loan requests do slip through [...]
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There use to be a saying that the top 3 things your business needed for success was location, location and location. This was because your location did the marketing for you. Not so much any more.
Today, the 3 things your business needs for success is marketing, marketing and more marketing [...]
Venture capital any form of private equity is not necessarily for all businesses. Your ability to get this form of equity financing depends on a lot of things outside your prevue or control which makes venture capital a bit hard to understand.
Banks and other business lenders try to make their underwriting criteria more transparent [...]
Not all free money for a business is called a business grant. In fact, personally, I don't care what you call it just as long as I can get something to help my business grow for free.
The goal is not to get a grant per say but to get something for nothing that can be used to propel your company [...]
The following is based on information put out by the Internal Revenue Service (IRS) yes that IRS as they are the ones that interpret the tax laws and more importantly the ones that enforce them.
But, starting a new business is not hard to do and should not be that hard. We currently have over 28 million small [...]
We hear a lot of talk about the power small businesses have on our economy from supporting local communities to creating jobs.
But, it is quite amazing to actually see the numbers.
From the latest Small Business Administration Office of Advocacy's Small Business Profile [...]
Working capital is the life blood of your business. Without it no matter what else you have, even growing sales your business will fail.
Have you heard of a business growing itself broke? Happens all the time. See why and how you can avoid it in your business [...]
Not every small & medium sized business can afford an in-house receptionist. In GabbyVille you can enjoy all the benefits a professional receptionist provides for a fraction of the cost of an on-site receptionist.
Back in 2009, I signed up with Netflix. At that time, it was still a fairly new service and they combined their streaming and DVD by mail services into one single package.
Now, there were some problems. First, the streaming was not all that good. In part because of the untested [...]
Why were things looking up and all of a sudden we have the rug pulled out from under us? The first quarter of the year had some very bad weather across the nation which lead, some people say, to a bad economy during that period (a really bad economy). Yet coming out of the first quarter and the cold weather, business and economic optimism was up [...]
Small and mid-sized businesses are still struggling to access needed capital capital to invest in new property and equipment, capital to grow their operations and capital to hire.
And, our governments (local, state and federal governments) have to entice both banks and other business lenders to step up and fund these companies [...]
Service Businesses: How To Use A Credit Card For Your Working Capital Needs And Not Pay A Single Penny In Interest
A credit card can be a powerful way to finance your business's working capital needs and, if used properly, you can do it without paying a single penny in interest.
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Retail Businesses: How To Use A Credit Card For Your Working Capital Needs And Not Pay A Single Dime In Interest
A credit card personal or business is essentially an unsecured revolving line of credit that can be used, paid back and used again over and over much like your working capital needs demand. And, unlike bank lines of credit (which you cannot get unsecured any more) credit cards do not have to be [...]
Can you get a business loan or some type of business financing online? Sure as lenders are also turning to the Web to attract and service more of their customers.
But, the Internet is not equal to all people it is not equal to all users and it is not equal to all companies selling their information in cyber space [...]
Your interest rate can matter a lot in your business loan decision. And, not just from your side of the deal either.
If your rate is too high, which in turn makes your payment uneconomical for you or your business to handle, your potential lender could say 'no' to your deal [...]
I know it sounds like an oxymoron and on the surface may not even make sense common sense that is but your personal credit really does matter in getting a needed business loan not to mention the savings that good personal credit can being to your business.
Let's look at three scenarios in seeing why [...]
Sure you may have heard about the major Small Business Administration (SBA) loan programs like their flagship 7(a) program or their community real estate and equipment CDC/504 program. And, you might have even heard about their Micro Loan program.
But, do you also know that the SBA has other lending programs [...]
Businesses have a hard time finding needed financing these days all businesses. But, image a small company which could be yours that is located in a rural area with maybe 10% or less of the financing resources that a business located in a metro area has access too. If they find it hard to get capital, these rural businesses again maybe your business must find accessing capital completely obstinate [...]
Clearly, farmers are businesses as well and they too struggling getting financing (particularly working capital) for their operations.
And, like other businesses in other industries, they have been finding it hard to get banks and other traditional lenders to finance their needs [...]
So, what is a loan matching service? Over the last few years, several online companies have come onto the marketing touting services or platforms that help match your company with business lenders.
The company goes out and partners with several lenders in any number of loan products [...]
Micro loans are little known but powerful tool that not enough small businesses are using.
Just ask Suppatt Thawatpeerachai of Bio TOGO Supply who, two years ago, received a $10,000 micro loan from VEDC to help the company meet its expanding demand [...]
Some of you might already know about those sale leaseback programs for business equipment where you can use your equipment sell it to a leasing company for cash and then lease the equipment back.
But, did you know that you can also do this with your commercial real estate [...]
Need working capital for your business? Have equipment or physical assets that you own outright? Do you wish that you could get back the money you spent on buying those assets and use those funds for your working capital needs?
Well, you can do all of that and do it relatively easily [...]
Before attending graduate school for my MBA, I was always under the impression that if an asset appreciates in value (like real estate) then you should buy it to own (meaning take a loan out to buy it) or if the asset depreciates then lease it.
So, which is better for your business [...]
Getting working capital from a bank or financial institution these days is like trying to drive your car without any wheels. While you are already to go, you just do not seem to get anywhere.
Thus, entrepreneurs have to find other means to finance their operations than using those traditional resources [...]
The Small Business Administrations (SBA) Office of Advocacy just released its Small Business Quarterly Bulletin for First Quarter 2014 in which it outlined some very favorable trends.
For one, small business or proprietor income is up again so far this year. A positive trends that has been slowly [...]
Probably the most abundant capital resource on the planet for businesses is working capital and it is probably the easiest to get.
Banks provide it. Alternative lenders provide it. Even those companies that only provide personal loans also provide working capital for businesses [...]
While anything even traditional banks loans can be considered alternative business loans, let's focus on those true lending products that your business may be force to get when those traditional lenders say 'NO.'
And, while there are any number of categories, let's discuss the 4 major one the ones that have been around for a while [...]
Getting approved for a business loan is all about risk. If you want your bank or lender to say yes, then you have show them there is little risk in your deal.
If a lender smells even the smallest bit of risk anything above the normal they will not just walk away but run [...]
I cannot stress enough the power of measuring your results in growing your business. Far too many business owners just throw money at a situation and hope for the best they think that if they give it money, it will get better right? No!
You have to measure your results then modify [...]
Now, going down to your bank and getting approved for a $100,000, no fee, low interest business line of credit would be optimal for any company on the planet.
But, unless you are Donald Trump, it is not likely to happen (might not even happen for him these days) - and with no fees and low interest [...]
The Federal Reserve (Fed) is making noise that it will completely stop its Qualitative Easing (QE) at the beginning of the fourth quarter of this year just two and half months from now.
This means that the Fed will stop buying back Federal bonds. The reason that the Fed began its bond buying program to was to stimulate [...]
As we continue to wait for the Securities and Exchange Commission (SEC) to finalize its rules on equity crowdfunding for everyone, we ask the question;
"Would you rather have a crowdfunded business loan or would you rather receive a crowdfunded equity investment and give up a stake in your [...]"
Over the last year or so, more and more states have been stepping up and supporting true equity crowdfunding in their regions they really do not have much of a choice.
Small businesses both new and existing need capital to grow and prosper. To create more jobs, to build more wealth and to help improve the communities [...]
A business or merchant cash advance is a great working capital product for any retail or service business that accepts credit card and debit card payments from its customers.
In fact, these are very easy and simple short-term alternative financing products [...]
Clearly the best way to grow your revenue is to close and complete more sales. More sales to more customers, more dollars from current customers or just higher sales all the way around in both price and dollars.
However, when looking at the entire business and its bottom line; which matters most [...]
I have dealt with current and potential business owners over the years that struggle to get the capital they need to startup or grow their companies.
And, for the most part, this struggle had nothing to do with cash flow, collateral, debt ratios or any number of loan underwriting criteria save one credit [...]
Micro business loans are just that micro. In fact, most micro lenders especially those supported and backed by the SBA offer anywhere up to $35,000 in a single loan. However, know that the average loan especially the first micro loan for a business is around $10,300 [...]
We live in a global world. Not only do businesses that make goods in one country sell those goods in another (or more) but many services businesses from one country actually operate in many other countries.
Take banks for example. Many international banks have operations right here in the U.S. [...]
A decade a go or so, Wal-Mart went to 24 hours a day many of their stores are always open some even on the holidays.
In fact, just this weekend this 4th of July weekend Wal-Mart stores in and around the Boston area were open on the 4th [...]
On Fridays, we like to profile companies usually financial services firms as a way to bring the names and products of these companies into the minds of business owners in need of those products or services.
However, since this Friday is the 4th of July, we though we would expand the companies we profile [...]
Let's take this day the day that we celebrate America and look at a company that realized the American Dream (still realizing it for that matter).
This is not just to promote this company's success but to inspire you to get out there and live your dream. You have to reach out for the American Dream now [...]
Great news today. Our economy, according to the Labor Department, has created some 288,000 thousand new jobs in the month of June. Great, great news.
Now, remember, this is a pre-adjusted numbers. And, for the most part these numbers will tend to be adjusted down a bit [...]
Did you know that last month, the IRS who has been in the news lately for potentially violating American citizen's rights published their own "Taxpayer Bill Of Rights."
Now, we assume this means all taxpayers including both individuals and business taxpayers.
The IRS's Taxpayer Bill of Rights
Earlier today, Ms. Yellen, Chair of the Board of Governors of the Federal Reserve System, indicated that she as the NY Times puts it "Won't Raise Rates to Fight Bubbles."
The Federal Reserve has a lot of tools powerful financial tools that could be use to guide the economy [...]
If you know me, you know that I am a big advocate of small businesses. I love all businesses for that matter but small companies hold a special place with me mostly because the passion and excitement not to mention the creativity and innovation these small firms bring to the playing field [...]
Pathfinder, a software design and development company, is sponsoring a start up business challenge in Chicago The Chicago Lean Startup Challenge.
In this challenge, a 14 week program designed to help you get your company up and running the right way, begins with [...]
You might have heard about Christmas in July. But, have you heard about July 1st being a New Year?
Well it might seem just like Christmas during this New Year in July here is why [...]
Thomson Reuters/PayNet periodically puts out a small business index related to the amount of borrowing small companies are doing at any given point in time.
And, their most recent data shows that; "U.S. small businesses boosted borrowing for a third straight month in May [...]"
In the United Kingdom (UK), the government extended the rights of all workers to request flexible working schedule from their employers.
Prior to this day, June 30, 2014, only employees who are parents of children under 17 could ask key word here 'ask' their employer for a flexible working [...]
This is an age old question to use a broker or not to use one when seeking financing for your business.
Many fear and rightly so that brokers are out for themselves more then they are out for finding the right product (the right business loan) for a client [...]
A lot can be said about the Small Business Administration (SBA) these days from being a political pawn to helping businesses that are not really small businesses. But, I personally think the agency (despite all its flaws) has done a lot of good for both small companies in this country [...]
Have you heard about the Ex-Im Bank or the Export Import Bank of the United States?
If not, and your company is in the business of exporting products or services overseas or is thinking about tapping into the 96% of all worldwide consumers that do not live within the U.S. [...]
Nearly 5 and a half years ago, our economy tanked flopped went down the drain whatever you want to call it.
In fact, in 2008, our economy, as a measure of Gross Domestic Product (GDP) fell by a whopping 3.8% in the fourth quarter of that year. It was considered the biggest slowdown in over 26 years [...]
From time to time I hear about great bootstrapping ideas for businesses ideas that I like to share. If other can find success from these unconventional ways of rising capital then maybe you can too.
Bootstrapping is essentially finding and using any way possible to get the money your business needs to start, grow [...]
Far too many small businesses grow themselves broke each and every year. The following is how these companies usually find themselves in this situation and how they could have better manage their cash flow to avoid this event information so that you do not make the same mistake.
Growing Your Business Broke
I was looking up some information regarding Father's Day since I have a father, my wife has a father and I am a father.
And, I came across this quote from Bill Cosby:
"If the new American father feels bewildered and even defeated, let him take comfort from the fact that whatever he does [ ]"
Came across this article based on the shuttering of Funding Community a debt crowdfunding platform that just did not make it.
Unlike peer-to-peer lending services like Lending Club or Prosper who focus mostly on funding consumers by consumers, Funding Community was looking more at funding new and small businesses [..]
Probably one of the biggest shocks that business owners face when applying for a business loan is the fact that they have to put up a down payment followed closely by the amount of that required payment.
A loan-to-value (LTV) requirement is already built into most loan underwriting processes [ ]
The city of Seattle Washington, on June 3rd, passed a severe pay increase for certain minimum wage employers within the city. And, it is very complex.
First, the national minimum wage rate is $7.25 per hour. The state of Washington's minimum wage rate is $9.32 per hour. Wondering why those Starbuck coffees are so expensive [ ]
Found this in my email and not only did I think it was funny but that it also had a true element to it about those giving advice to you and your business.
This email was titled; "The spoon" [ ]
By now, you should have heard of at least if not already be using PayPal. PayPal started in a back office of a Venture Capital firm and was one of the first to facilitate ways to make payments individual to individual as well as individual to business and business to business.
Bought by eBay to [ ]
Far too many business owners new entrepreneurs or experienced managers usually go after business loans for the wrong reasons.
I have seen business after business think they need additional outside capital to spur growth when they actually needed to look more at their spending and [ ]
First things first. Financial management is about the management part nothing else.
Last week, while I was traveling, I listened to Mark Cuban (the billionaire) on the Dave Ramsey show (Dave Ramsey is a well known personal financial expert).
Near the end of the program, Dave asked Mark what he would recommend [ ]
With the economy picking up some steam but not really going anywhere fast combined with a poor job market there are those that are starting to taking control of their financial lives and thinking about or jumping right in and starting a small business.
And, know that you can make money from anything and I mean anything. You just have to [ ]
Most people that have heard of micro loans know that the SBA backs many of these lenders. It really fits in with the overall mission of what the Small Business Administration (SBA) should be doing to help promote new and growing businesses in our nation; who in turn create jobs, provide needed products and services in our communities and [ ]
Running the daily operations of your business is one thing especially if your company is one that is taking advantage of certain aspects of our new economy like being completely mobile.
If you are mobile (all the time or just periodically), you have to run your operations mobile which means taking payments from customers mobile. Now, cash can [ ]
The good news about starting a business in today's environment is that it does not take as much capital as it use to. Technology especially online technology has significantly reduced the costs of starting a new business; by either allowing you to have an online presence with far international research [ ]
The commercial real estate market, in my opinion, is ripe for the picking. Not only is there a good supply of property available for companies wanting to expand into their own building(s) but with interest rates remaining low and property value not yet rising up, getting that or those buildings for your company could [ ]
Having employees is no longer beneficial to any business. They are just too costly when compared to the actual value they bring to your company. There is just too much regulation regarding them that not only puts you and your business at risk but now, past employees are trying to do everything [ ]
Interest rates continue to remain low. Property values especially commercial property values have yet to over inflate themselves. And, there still remains a strong supply of property or even raw land available although foreign investors are snatching up all they can as fast as they can.
Bottom line it is still a good market to get the property your business needs to grow [ ]
There is good news and bad news. Lets start with the bad news.
So, by now you have heard about the solar company that received a $100 million business grant from our government. Or, the student loan collection company that received $35 million in a state business grant (in your state) or the research firm that received $500,000 [ ]
Venture capital (VC) has always been a mixed bag when it comes to funding small businesses.
Clearly, getting a $1 million dollar or more investment in your company can really help your small firm propel its growth rapidly. Yet, venture capital is not for all businesses and not all businesses [ ]
In 2011 over three years ago our national legislation passed and the President signed the Jumpstart Our Business Startup Act (JOBS Act) which, according to Wikipedia, the JOBS Act;
is a law intended to encourage funding of United States small businesses by easing various securities regulations." [ ]
Why rely on someone else or some elses business to secure you financial future e.g. pay you a wages bi-monthly for 30 plus years?
Why not take matters into your hand and build your own future higher than you can get from anyone else and never have to worry about the job market or income levels [ ]
Buying commercial real estate for your business will probably be one of the hardest transactions you ever have to do. It is like the hassles of buying a house but on steroids.
However, it can also be one of the most satisfying transactions you do make in your business.
For one, owning your own property can truly be the catalyst that propels your business [ ]
According to the Small Business and Entrepreneurship Council;
The level of entrepreneurship has declined in recent years. That is, the number of self-employed in the U.S. has dropped notably. Incorporated self-employed fell from 5.78 million in 2008 to 5.12 million in 2011 [ ]
What exactly is the "National Small Business Week?"
According to the SBA,
Every year since 1963, the President of the United States has issued a proclamation announcing National Small Business Week, which recognizes the critical contributions of Americas entrepreneurs [ ]
If you go and look at lending website from banks, credit unions, alternative lenders, SBA lenders, etc. some of them will specifically outline the types of business loans they offer like equipment loans or commercial vehicle loans or inventory loans and some of these lenders will just lump them all together [ ]
An unsecured business loan sounds great doesnt it? No risk to your business assets, no risk to your personal assets, no real risk to you at all.
That does sound great. The problem is that unsecured business loans are nearly a myth in todays market. Do they exist? Yes. Can you get one [ ]
Credit matters. Yes, your personal credit. No business lender will approve your business loan request without first pulling your personal credit history.
And, if you don't have any credit or if your credit is bad, they will walk away from your request. They know that if you [ ]
Have you seen this business grant? It is one of the best private grant programs that we have seen in a long time not just in the fact that it is a true business grant for "for-profit business" but that it actually offers a substantial award amount that can make a significant difference [ ]
I know, if you what to start a business or grow your business and need capital to do so, you would expect to rely on that business (its assets and its cash flow) to secure that business loan. If it is for a business need and you want a business loan [ ]
One of the hottest issues for businesses across this nation over the last 5 plus year is access to capital - capital needed to start, run and grow businesses and eventually capital to hire, build wealth and grow this economy.
And, banks, in particular, bare the brunt of this. They are perceived to have all the money, they are perceived to be heartless [ ]
Women owned business loans have become a very hot search topic recently.
According to a State of Women Owned Business Report; "The number of businesses owned by women in the United States has increased 59% since 1997, according to an estimate from American Express." thats why [ ]
There are essentially three SBA business loan programs for small businesses. But, within these three categories, there are different limits, requirements and restrictions.
And, it is by understanding these programs, and their limitations, if one of these loan programs is right for your small business.
First things first. The SBA does [ ]
Not all credit unions offer business loans. But, did you also know that not all banks offer business loans?
Some banks only offer commercial real estate loans. Some banks only offer agricultural related loans. And, some banks don't offer any type of business loan at all.
However, when they do [ ]
There are roughly half a million new businesses started each year. And, while those new companies may have great business ideas, the vast majority of them, some two-thirds according to the SBA, have to find some way, outside their business or outside their own personal or family resources, to finance [...]