Browsing Tag
SBA
36 posts
A Step-By-Step Guide to Writing a Killer Business Plan
A business plan is as important to a new business as a map is to a ship, or blueprints are to an architect. A written business plan will guide your actions and keep you focused on your short- and long-term goals. Your business plan puts your aspirations into words (and charts), demonstrating to partners, investors...
How to Validate Your Business Idea in 30 Days (or Less)
Starting a business requires serious research, but it also requires you to seize opportunity. Jump in without consulting the data, and you risk boarding a sinking ship. Spend a year learning every detail of the space, and your opportunity may already be gone. As with most things in life, a balanced approach is best when it...
WJR Business Beat with Jeff Sloan: Second Round of PPP Funding Still Available (Episode 180)
The Small Business Administration's second round of Paycheck Protection Program (PPP) funding is open through March 31, 2021, and President Biden just announced a series of program enhancements to ensure that underserved small companies hardest hit by the pandemic have the best opportunity to apply for the PPP funds. The PPP funding formula is being...
WJR Business Beat with Jeff Sloan: SBA Procurement Program for Women-Owned Businesses (Episode 88)
On this morning's WJR Business Beat, Jeff shares recent Small Business Administration (SBA) news announcing a certification program that helps ensure that women-owned businesses are competing on a more level playing field with other companies applying for the same contracts. The certification requirement applies only to those businesses wishing to compete for specific set aside...
WJR Business Beat with Jeff Sloan: SBA EIDL Lending Program (Episode 83)
Today on the WJR Business Beat, Jeff reports on the EIDL program. The U.S. Small Business Administration announced the conclusion of the first component of the program, which provided U.S. small businesses, nonprofits and agricultural businesses immediate grant funding, totaling $20 billion. The distribution of the $20 billion went to nearly 6 million small businesses, employing...
5 Tips for Keeping Your Business Credit Strong During Turbulent Times
No one knows how long it will take small and independent businesses to recover from the COVID crisis; at this point there is no timeline that allows for serious planning. But what is clear is that those businesses that are able to maintain good credit will find it easier to bounce back as they will...
COVID-19 Small Business Relief Funds Exhausted
You may have heard that the Small Business Administration (SBA) has run out of money to fund the Paycheck Protection Program (PPP) and the Economic Injury Disaster Loan (EIDL) program. In other words, at least for the time being, the COVID-19 Small Business Relief Funds have been exhausted. Congress is currently working on another appropriation...
Apply for Federal COVID-19 Support Now or Risk Missing Out, Business Strategy Expert Says
As small and medium businesses scramble to stay afloat during the COVID-19 pandemic, the U.S. government has made billions of dollars available in loans to help companies make payroll and stay afloat. At the same time, startups in certain industries such as online learning or grocery delivery may be struggling to keep up with increased...
Free Resources for Understanding COVID-19 Financing Options
Are you overwhelmed by the sheer amount of information out there about COVID-19 relief loans? Not sure where to start when it comes to what you might be eligible for? You’re far from alone. Information is being updated nearly hourly, and the various small business funding to make it through the coronavirus pandemic is a...
Resources for Small Business Aid Amidst the COVID-19 Crisis
As local businesses close their doors amidst the coronavirus pandemic, entrepreneurs and business owners worldwide are scrambling to make ends meet. If you're in need of assistance during this time, consider the following resources for small business aid: StartupNation exclusive discounts and savings on Dell products and accessories: Learn more here GRANTS AND LOANS Detroit...
Do You Qualify for the $367 Billion in SBA Loans for COVID-19?
This article was updated on March 27, 2020, with the current state of the SBA Disaster Assistance in response to the coronavirus (COVID-19), what’s included within the $2 trillion aid package, when we can expect the aid to be available, and the process for applying for the relief. The SBA Disaster Assistance bill (CARES) that...
WJR Business Beat with Jeff Sloan: The Impact of Coronavirus COVID-19 on Businesses (Episode 10)
On this morning's Business Beat segment, Jeff provides resources for businesses impacted by the coronavirus pandemic (COVID-19). For more information, read the SBA's Guidance for Businesses and Employers to Plan and Respond to Coronavirus Disease 2019 (COVID-19). In addition to guidance and facts regarding the pandemic, the SBA is offering Disaster Assistance Loans for Small...
4 Funding Resources for Women Entrepreneurs
March is Women’s History Month, and last year, I shared an article about small business grants available for women entrepreneurs running niche startups. Grants are a fantastic resource for any entrepreneur starting or growing a business, as they provide a specific sum of money to fund your business. And, depending on the grant, other potential incentives include...
5 Realistic Ways to Fund Your New Business Venture
Most small business owners run into cash flow issues at some point in their entrepreneurial journey. It's a valid source of concern. Cash flow and lack of funding are primary reasons small businesses fail. And it may be the leading cause of your entrepreneurial angst. If you're a first-time entrepreneur, some of the most recommended...
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....
Show Me the Funding! Creativity Can Help Get the Money and Resources You Need
The following is excerpted from “Target Funding: A Proven System to Get the Money and Resources You Need to Start or Grow Your Business," pg. 26 to 28 (McGraw-Hill, July 12, 2019). If the vast majority of early-stage entrepreneurs, small businesses, and independent inventors can’t get conventional business loans or venture capital, where do they find...
6 Ways to Finance Your Franchise
If you’ve decided to join the millions of business owners who own a franchise, you’re going to need money--and sometimes a lot of it. Franchise startup costs can run from thousands to more than a million dollars for some of the most popular restaurant franchises. While many of the top franchises require a franchisee to...
Hidden Startup Costs Entrepreneurs Should Know About
While it's ideal to start a business with extra financial cushion, this isn't always realistic. There will always be certain expenses you’re prepared to anticipate, like filing taxes and incorporating or forming an LLC, but others might creep up and surprise you. Wait, you have to pay a fee just for filing an application? Permits...
6 Funding Ideas for a First-Time Startup Founder
Finding cash for your new business venture may seem like a daunting task. With some high-profile startups boasting angel investment amounts in the millions, is it even likely that an unknown, fledgling business like yours can find funding to get off the ground? The quick answer is yes, although it may take some ingenuity and...
8 Business Services You May Be Paying for That You Can Get for Free
Looking to make some trims to your operational budget? Just getting started and need business solutions that won’t break the bank? There are a lot of bills that are unavoidable (utilities, suppliers, etc.) but today’s digital environment connects entrepreneurs with a variety of products that can help them run their business without adding to their...