Employee Retention Ideas for a Bootstrapped Budget All good small business owners know the value of key employees and their importance to their business’ success. They’ve invested time to find qualified candidates, contributed resources to train them, and are acutely aware of the significant financial and opportunity losses that would be incurred if an employee […]
3 Employee Retention Ideas for a Bootstrapped Budget Read More
How Inventory Management Can Make or Break Your Small Business All small businesses are focused on driving sales in order to boost revenue, but businesses that sell goods rather than services have the unique challenge of managing their inventory in a way that maximizes their profits. Small business owners rely heavily on the profitable sale
Maximizing Profits With Better Inventory Management Read More
Taking on a business partner is both rewarding and risky. Your business maybe doing well, but if your partner suddenly has a personal financial setback, such as a bankruptcy or foreclosure, this could very well prevent your partnership from getting a business loan, especially from a bank. However, there is hope. Private commercial lenders like
Could Your Partner Prevent You From Getting a Business Loan? Read More
Expansion is an exciting prospect in the life of any business. Normally, it denotes that your business is doing well and will benefit from growing bigger. It’s also a challenging prospect, in that it can interrupt your normal operations and require additional resources, such as a business loan. Expansions are risky, and there are always
3 Steps to Plan for Successfully Expanding Your Business Read More
Banks operate under a different set of specifications when it comes to business lending. They often offer many additional services, and as such, have traditionally taken a more conservative approach to selecting businesses to lend to. The most obvious characteristic that banks emphasize is credit score. Less than 800 (out of 850), and they’re usually
Why Your Business Might Wow an Online Lender but not a Bank Read More
Congratulations. You’ve made it past the first year in business. That’s no small feat, as the Small Business Administration points out that 20 percent of small businesses fail in their first year. Sure, there are no guarantees when you open a business, and things can always change, often due to forces beyond your control. Nonetheless,
5 Things You Should Have Done by Your 2nd Year in Business Read More
We are not out to discredit banks or bankers, but we do believe that many potential borrowers make unwarranted assumptions about banks that we’d like to clear up. The bottom line is that sometimes a bank is a good place to get a small business loan, and other times it’s not. Banks Are Not Impartial
5 Things Your Bank Won’t Say About Small Business Lending Read More
There is nothing unusual about a small business seeking to borrow money. The two biggest questions the owner must face are: How much will I be able to borrow? How much interest will I pay? The two questions are interrelated, because they are tied to how a lender evaluates your loan application. Whereas banks look
The 3 Key Factors That Determine Your Rate for a Business Loan Read More
Running a small business can be quite rewarding, but it’s also risky. When the economy is brisk, a good business should do well. But economies can suddenly turn down. Furthermore, even if other industries are doing well, you may run into problems confined to your sector or even to your individual business. Whether the issues
3 Ways to Survive An Unexpected Economic Downturn Read More
You can boost your company’s size, and hopefully its profits, by making a smart acquisition. Not all acquisitions make sense, and an ill-conceived one can send your small business down in flames. So it’s important to size up a target company along several dimensions before making an offer. Financial: The two financial questions you have
5 Things to Consider Before Expanding Through an Acquisition Read More