It’s unfortunate but true: unexpected financial emergencies happen all the time to small businesses. Another unfortunate truth: most small businesses are not prepared to weather a prolonged financial emergency. JP Morgan Chase estimates that the average small business has 27 days of cash in reserve, while many small brick-and-mortar stores may have less than 20 […]
SBA
6 Resources for Veterans Looking to Start a Business During Coronavirus Crisis
As the economic effects of social distancing and shelter-in-place are felt across the country, many are left unemployed and struggling to find supplemental income. While this is a tough time for many Americans, this is also a much needed pause in time that aspiring veteran entrepreneurs can take advantage of. While it may be difficult […]
7 Tips for Veterans Looking to Start a Business in 2020
The skills that veterans learn while serving the nation transfer well into the business world. If you’re a veteran who’s been thinking about going into business, there are plenty of resources to help you test out your ideas and get started. More than 300,000 veterans faced unemployment in 2018, according to the Bureau of Labor […]
Top 4 SBA Myths Dispelled
The Small Business Administration (SBA) loan program is amazing. It’s a big driver of the economy. Every year, the SBA, a government agency, guarantees thousands and thousands of loans to small business across the United States, totaling several billion dollars (not a typo, that’s billion with a “b”!). There are a bunch of unique features […]
How to Secure an SBA Loan for Your Business
Small businesses are having an easier time obtaining credit than before thanks to the current economy. According to Small Business Trends, 25.2 percent of small businesses in December 2017 were approved for loans by large banks. This represents a 0.1 percent increase over November and a 1.3 increase compared to 2016. But while this may […]
13 Small Business Grants You Need to Know for 2018
Running a small business is a lot like powering a car, and the only way to keep it moving down the road is to fuel it. Capital and funding are the fuel that drives small businesses, and your financial strategies can be the difference between opening a second location in the new year or laying […]
How to Get a Business Loan in 3 Easy Steps
No matter where you stand regarding your business, there’s a good chance you will, at some point, need to find a source of outside funding. Small business owners in every stage of the business life cycle apply for small business loans every day. However, the approval process for traditional banks loans can be tough. Banks […]
The Small Business Owner’s Guide to Equipment Financing
Whether your business is product or service-based, having the necessary equipment is vital to keeping your venture operating smoothly. Replacing, upgrading or purchasing equipment for the first time can put a serious pinch on your cash flow but with the right financing, you can get the things your business needs without making a substantial dent in […]
Veteran Entrepreneurs Recognized by SBA at Veterans Small Business Week
In honor of Veterans Small Business Week, I had the pleasure of nominating two NY State veteran business owners as success stories. Their stories will be placed on the National SBA web portals for recognition. These entrepreneurs were in various stages of their startups, but we worked together to grow their business into the successes […]
3 Things You Need to Know About Government Business Loans
If you are thinking about starting your own business and have discussed it with anyone, chances are you have been told that you can get loans from the government. This is true, but maybe not in the way you think. First, the government does not directly make loans to small business owners. There is no […]
