Posts Tagged ‘SBA’
SBA Loans: Opportunities for Franchise Entrepreneurs
Thinking about starting your own franchise business? Many potential franchise owners turn to SBA loans for the franchise. These loans, backed by the U.S. Small Business Administration (SBA), offer an attractive option for those seeking funding. Although the SBA doesn’t directly provide the loans, it guarantees a portion of the loan for lenders. This makes…
Read More3 Entrepreneur Tips for Small Business Month
May is National Small Business Month, an annual opportunity to support the hard work of small business owners. The backbone of the nation’s economy, small businesses employ 45.9% of the entire U.S. workforce and make up 99.9% of all U.S. businesses, according to the U.S. Small Business Administration. Unfortunately, some small businesses don’t have much…
Read MoreWhat Are the Odds of Your Startup Success?
Well, the numbers don’t lie, even if there are several sources of these statistics. Starting a company is HARD – in so many ways. And risky too. Let’s delve into the true chances of your startup success. Let’s start with a restaurant – not our thing. But… I read several years ago that the average…
Read MoreHow To Start A Small Business With No Money
A couple of years ago, there was a minor uproar when Forbes called Kylie Jenner the “youngest self-made billionaire”. Those of us who did not come from families with tremendous wealth and fame took issue with the term “self-made”. That moniker is usually used to describe someone who actually built their wealth from nothing. However,…
Read MoreHow to Deal with a Sudden Cash Crunch
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…
Read More6 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…
Read More7 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…
Read MoreTop 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…
Read MoreHow 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…
Read More13 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…
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