SBA will be one of the largest financial resources to help business owners with the recovery from the recent tornados in Oklahoma. There’s finally some good news for business owners located in Oklahoma that were negatively affected by the recent tornados. The SBA recently stated there will be a Business Recovery Center for all businesses seeking assistance. There will be SBA representatives there to help business owners understand how a federal SBA disaster loan can help with their recovery. The Read More
Banks aren’t the only ones lending out money to small businesses If you already contacted your business banker, you might already be aware of the bank requirements if you want a working capital loan from them. Traditionally banks are looking for businesses that have a history of good credit from the business owners. If the business has multiple owners, and they own more than 20% share of the company, the bank will require those owners to be on the loan. Read More
Businesses today might have a greater need for working capital loans, more than ever. Even though it sounds like a broken record, our economy is still in the tank, and businesses aren’t as healthy as they were before. Companies today, might not have as much cash on hand, and if they have a need for working capital they will only have several options. If the funds aren’t already in the business bank account they will need to resort to either Read More
With so many options, who do you pick? With the wide selection of business cash advance lenders in the marketplace today, it might be difficult to find the right one for you. They all might seem to be the same, but the reality is we are all different just like any other businesses within the same industry. Let’s first start with the different type of facilitators. You have your local bank or credit union; neither IS known for doing business Read More
Tight on cash? We have a solution! Merchant funding, also known as business cash advance or merchant cash advance is a fast and simple way of obtaining working capital for your business. This type of financial tool is typically not viewed as a loan. You are selling your future credit card receivables at a discount for a set dollar amount. So as your customers pay with credit cards, there will be a small percentage of each transaction deducted to pay Read More
Hire wisely, make sure they will be a perfect fit for your team! Chances are if you are running your own business, you probably were the team captain of dodge ball in grade school. Just like picking your teammates for dodge ball, you will be doing the same when hiring employees. If you want to be the undefeated dodge ball team, then you need to make sure your team is well balanced. That means, you need pick the team members Read More
Do you know what your customers think of you? Understanding your products comes second to understanding your customers. There is so much you can learn about your business if you simply ask your past customers. They will tell you the good, the bad and the ugly. They have no reason to mislead you, they already became a customer and there’s no reason to give any fluff. You’ll get the most honest feedback from your customers. It’s hard to put a Read More
“You need money to make money.” Everyone has heard of that saying more than enough times, and it’s very true when it comes to running a small business. If your business is short on working capital, how else do you expect to grow? We recently came across another scenario with a home builder that specialized in building individual homes. Here are some of the obstacles this business was coming across: · They had four homes sold and escrow would Read More
Learning how to raise working capital at a young age. Now that I look back, I was an entrepreneur at a very young age without even knowing it. In elementary school, these handheld video games were popular; this is before there was Gameboy or PSP. These games usually had only two buttons and ran off watch batteries or AA batteries. In 5th grade I had a teacher named Ms. Graves, and she used to hand out tickets to the students Read More
It might be hard to believe, but the simplest forms of advertising can result in business. Having a small business is time consuming, from collecting payments, shipping out items, ordering inventory, paying bills, figuring out advertising, the small business owner is definitely responsible for multiple items. So it’s no surprise that some things might have been overseen. Most of the time when we are talking about advertising it has dollar bill signs in the conversation. But not today! No Read More
