A small business has its share of challenges and rewards. It’s been noted that, in some cases, entrepreneurs can be great at starting a business but not so great at managing it day to day. However, this is not predestined to come true, especially if you avoid the big problems that most small businesses face. […]
5 Mistakes to Avoid While Managing Your Small Business Read More
Most businesses require credit and loans to operate as efficiently as possible. This is especially true for small businesses, which frequently have insufficient working capital. To boost working capital, a business can: Take out a loan, cash advance or revolving credit line from a lending institution. Issue notes and bonds, although this can be a
Quick Ways To Boost Your Business Credit Read More
Internet Security The current hot topic in business at the moment, internet security tops the list of important things small business owners need to know this fall. As we discussed in Protecting Your Business and Customers From Data Breaches, taking stock of your current technology and upgrading to prevent breaches is a must. Add virus and malware
5 Things Small Business Owners Need To Know This Fall Read More
Maintain an attractive storefront People do judge books by their covers, and when passing a store that is new to them, most will decide whether or not to enter based on its appearance. Although you may not have total control over the storefront’s appearance (as a franchisee, or a mall resident), there are some simple ways to work
5 Ways To Attract Customers To Your Retail Store Read More
With the abundance of security breaches recently, internet and data security should be at the top of your list – not only for the safety and privacy of your business, but for that of your customers. Stay Safe Online, powered by the National Cyber Security Alliance, offers the following tips on protecting your small business and
Protecting Your Business and Customers From Data Breaches Read More
Last month, a subcommittee on Economic Growth, Tax, and Capital Access held a hearing titled, ”Where Are We Now? Examining the Post-Recession Small Business Lending Environment.” As I listened to witnesses explain to our policymakers the current state of small business lending in our country, I realized just how deep the REAL problems are. For
The Current State of True “Small Business” Lending Read More
For small business owners, understanding repayment terms before applying for a loan is critical. For instance, most lenders offer pre-computed interest rates, which means they calculate the interest payment for the entire length of the loan and add it to the principle when the loan is issued. And yes, this does provide a clear picture
Small Business Owners: Know the Repayment Terms of your Loan Read More
Most often, the small business owners that come to IOU Financial for a loan have already been painfully exposed to the fact that banks are much less likely to lend to them. These owners come seeking alternative lending options out of necessity, but also end up finding out that the process of working with IOU Financial
Behind the Scenes: Technology Makes it Possible Read More
I recently participated on a panel with several bankers during the PayNet event in Chicago, so this article in American Banker about banks needing a strategy around small business lending was especially interesting to me. Its author, Andy Peters, brings up a good point that has also been discussed around our office for years: Where is the bridge in the gap
Bridging the Gap Between Banks and Online Lenders Read More
A recent USA Today article featuring IOU Financial examined unconventional lending sources for small business. Even for healthy businesses, those with positive cash flow and strong financial history, getting loan approval from a traditional bank is difficult. Whether the size of the loan is too small or the cost to process and fund it is too expensive, there is
Small Business Owners Find Alternative Solutions For Capital Read More