Category: Working Capital

Finding enough cash to get your small new business started or keep it running can be one of the biggest challenges you face as an entrepreneur. Here is a list of 8 different sources of business funding that can save your company’s future: 1. Friends and Family Before you groan at the idea of hitting up your loved ones for cash, you should know that friends and relatives are one of the most common sources for startups. No one knows you or believes in you more than this crowd. And they may be […]

One of the major aims of the Small Business Administration is to provide access to working capital for qualified new and growing companies. The SBA does not directly lend money to entrepreneurs however. In addition to its SBA loan program, it also offers a venture capital system called the Small Business Investment Company (SBIC.) Here’s what you need to know about this program: The SBIC was established in 1958 by Congress in order to get more financing to growing businesses. It allows […]

Every small business owner looks forward to the day his or her company takes off and has more demand than supply. You might need to pay for more inventory or marketing for gaining new customers, or in other cases you may be ready to buy out the competition or merge with another firm. When that day arrives, it is smart to be prepared with a source of expansion financing – in other words, a way to pay for that quick growth. Here are three things to know to help you know when and how to secure expansion […]

When your business is ready to purchase a property or building, one great option for financing is to use a Small Business Administration 504 loan for your commercial mortgage. This government-backed and funded program provides great loan terms and safe financing. Here’s what you need to know: The 504 Loan program was created in 2012 to provide funding to expanding small businesses. It can be used to finance several types of business growth, including commercial mortgages for the purchase […]

For companies whose products have a high sticker value, being able to offer customers multiple payment options is essential. Accepting credit cards, cash and checks are fairly standard, but there are also other financing choices that could help give your business a competitive edge. One of these is retail financing. Sometimes called customer financing or consumer financing, retail financing provides customers with a short term installment loan for purchases above a certain level. Here’s how […]

You’ve hit a wall in your business growth. You need more working capital. A small business loan can be the safest and cheapest way to obtain the funding your company desperately needs. The requirements can be stringent and the application process can be extensive. Here are 5 ways to be prepared for small business loan success. 1. Prepare to Explain the Reasons for Your Loan In order for a lender to approve your loan proposal they will need to see a convincing reason for the funds. If you are […]

No new business is devoid of setbacks and challenges. Even companies that go on to make millions of sales and find great success often make many mistakes in the early stages. While some business knowledge can only be learned the hard way, there are a few mistakes that can be avoided by learning from others’ experiences. Here are a three of the top financial mistakes to avoid as a fledging company: 1. Not Having a Cash-Flow Plan Becoming successful takes more than just opening the doors or placing […]

Building up a good business credit score is more important to obtaining business funding than most entrepreneurs realize. In fact, one of the most frequent reasons that small business loans are denied is because of low personal and business credit scores. After establishing a credit profile with business credit agency Dunn & Bradstreet, small business owners should apply for a business credit card and start using it responsibly to start building a good credit report. These cards can provide […]

A startup company is almost always synonymous with being short on business funding. Getting a business off the ground requires raising money and being efficient with that working capital. Here are a few tips to help you put your limited funds to good use as your business continues to grow. Keep Marketing to a Minimum In today’s digital age, there are so many ways to get your name out there without spending lots of money on traditional marketing. Start with Facebook, Twitter, Instagram and any […]

Trying to navigate the small business loan process can be confusing and exhausting. If your company is looking to find some business funding through a bank or other traditional lender, it helps to be aware of the kinds of paperwork that will be required of you. Here are the six most important pieces of data you should prepare before applying for a small business loan: 1. Personal Credit Score Even though you might not expect a bank to pull your personal credit score when you are applying for […]