Browsing Tag

SBA loan

24 posts
small business recovery
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Small Business Check-In: Which Sectors Are Recovering Better and Why?

March 2020 was a month no business owner will soon forget. The country was locking down, and our small business clients were struggling to understand the rapidly changing news cycle, a patchwork of local ordinances and vast changes to customer demand. Over the next several months, small businesses were forced to make the hard decisions...
loans for franchises
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The Best Loans for Franchises

Opening your own franchise is a smart decision if you're an ambitious entrepreneur. Being the owner of a franchise offers the flexibility to be your own boss, yet with the security of owning an already established brand. Like with any business, though, the costs of starting up can be pretty high and you might need...
Paycheck Protection Program updates
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New Paycheck Protection Program (PPP) Loans: How to Qualify and Apply

Updated January 11, 2021: The SBA has released guidance for new Paycheck Protection Program (PPP) loans available under the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (the Economic Aid Act). This article includes the latest guidance and the new application forms. What are Paycheck Protection Program Loans? The Paycheck Protection Program (PPP)...
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How to Pay Back an EIDL or PPP Loan

If your business received an Economic Injury Disaster Loan (EIDL) or Paycheck Protection Program (PPP) loan, you may have determined it isn’t a good fit for your small business for any number of reasons: You just wanted the EIDL grant and not an EIDL loan,  You didn’t understand the loan terms when you applied, You...
startupnation business beat
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WJR Business Beat with Jeff Sloan: SBA Paycheck Protection Program (Episode 25)

Today, the federal government opens the application period for the Paycheck Protection Program, an SBA 7(a) loan that helps businesses keep their workforce employed during the COVID-19 crisis. On this morning's WJR Business Beat, Jeff encourages struggling small business owners to apply, as the funding is on a first come, first served basis. Small businesses...
small business financing
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Everything You Need to Know About Small Business Financing

While obtaining funding as an entrepreneur is not always easy, there are methods to make it easier. These financing solutions support startups and entrepreneurs, and the companies that provide these solutions understand the challenges that small businesses face when it comes to traditional funding methods.  To meet the needs of small business owners and entrepreneurs,...
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5 Things Millennial Entrepreneurs Need to Know About Business Funding

The millennial generation has been coined the most entrepreneurial generation to date. However, many are postponing business ownership for one reason: financing. Starting a business from scratch is a challenging feat on its own, but for the one-third of adults under the age of 30 facing student loan debt, it can seem nearly impossible. To...
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The Best Funding Options for Minority Entrepreneurs

Access to funding is often the difference between growing a successful business and closing up shop. And while there are a lot of funding options out there for entrepreneurs in general, minorities often need to go the extra mile to acquire that capital. A study by the Department of Commerce’s Minority Business Development Agency looked at...
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Spending Freedom: The Truth About Small Business Financing

It’s hard to qualify for a traditional small business loan through a bank, and it’s even more difficult to get funding through a Small Business Administration (SBA) loan. If you do make it through the 60- to 90-day application process, you still aren’t in the clear. Traditional lenders have rules about how you spend the money from...
Rapid Finance
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Get Cash Fast: The Truth About Small Business Financing

The process of getting a traditional bank loan for your small business is frustrating. It’s nearly impossible to get a banker’s attention if you have questions. You are expected to fill out a long, complex application on your own, submit all of the supporting documentation that is required, and then wait. And wait. And wait....
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How to Find and Apply for SBA Loans for Veterans

Our military men and women are among the bravest and most dependable people we know. It should come as no surprise then, that this demographic often finds success in the small business world. The hard work and dedication they are used to giving to their country serve them well as entrepreneurs.  Whether you’re a veteran...
credit scores
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Which Business Credit Scores Matter the Most?

Not all credit scores are created equally. You likely already know that you have a personal credit score; it’s what you need to buy a car, get a mortgage, credit card, or even pass a background check. You probably also already know that there are three bureaus (Experian, Equifax, TransUnion) that report your credit scores....
bad credit
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Can You Get a Business Loan with Bad Credit?

Let’s say you’ve identified an opportunity for your business. It might be a bulk deal on inventory, a necessary equipment upgrade, or a great space for a second location. There’s just one problem: You don’t have the cash available to take advantage, and you have bad credit. But is all hope lost? The short answer...
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4 Tips for Funding a Business When You Have Student Loans

Few words strike as much fear in the hearts of college grads as student loans. These debts seem to linger for years; for some, repayment can take anywhere from 10 to 20 years. And for some, the specter of student loans may even determine which careers they pursue. Although the heart may yearn for a...
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Entrepreneurs vs. Solopreneurs: What Are Your Financing Options?

Working Americans choose to start a business for any number of reasons. There’s increased flexibility and independence, as well as more ambitious goals, like fulfilling a lifelong vision or dream. According to the U.S. Small Business Administration, nearly 30 million Americans are small business owners as of 2017. And although those millions of Americans are...
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4 Reasons to Have Your Business Financials in Order

As humans, we tend to focus our attention on the things that bring us the most pleasure and least pain. It is probably no wonder that most entrepreneurs and emerging companies tend to focus on daily tasks and projects which bring them joy, have the least amount of resistance and sometimes make them money. However,...
Small business loan
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The Small Business Loan Revolution is Here

The economy is back, and it’s ready to lend a hand If you’re like most small business owners, you’ve been on quite the roller coaster for the past several years. You pinched pennies, made sacrifices and deferred capital investment projects. Finally, your patience has paid off. With the economy back on a roll, entrepreneurs and...
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Loan Rejection: What It Means for a Small Business

A Loan Rejection Doesn’t Mean You Can’t Get a Small Business Loan The challenge of finding capital is a top-of-mind concern for many small business owners. While a loan rejection is a bitter pill to swallow, there are things you can do to improve the odds that your next application will be successful. You may...
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Things Investors Say When Really What They Mean is, “No”

One lesson I learned the hard way as a founder is that investors never like to say “no.” They especially don’t like to say “yes,” but “no” is almost as difficult to get out of them. Why? Well, because they never want to completely close the door on what could eventually be a massive missed...