Insights into the world of small business lending and development
You took out a U.S. Small Business Administration loan to grow your business and had every intention of repaying it. But you've experienced some hardships and sales are weak. You can't make payments and are now facing an SBA loan default, which would likely spell doom for your business.
As with almost every aspect of our lives these days, the internet has made it easier, faster, and more convenient than ever for small business owners to gain access to financing, submit business loan applications, and get cash in hand to pursue their goals. Even so, when it comes to something as important as financing your small business, the easy, fast, convenient way won't necessarily give you the best results.
WASHINGTON, D.C. – Administrator Linda McMahon, head of the U.S. Small Business Administration, today announced the roll out of Lender Match, SBA’s online referral tool that connects small business borrowers with participating SBA lenders. The program is an upgrade to LINC (Leveraging Information and Networks to access Capital), which was introduced as a pilot in 2015.
Although retirement planning may not always be a high priority for busy small business owners, there are plenty of options available to help you start saving for the future. Read on for an overview of common workplace-based plans.
While this isn’t an exhaustive list, it should help you begin to understand the differences among them. We recommend consulting a financial advisor for assistance in selecting a plan based on your business size, capacity, and resources.
Imagine starting your new business and going online to take out a loan. You find what you think is an attractive yearly rate of 9 percent. You think you are set until — after you sign — you are shocked to realize it’s 9 percent per month.
These kinds of soul-crushing predatory loans can put you out of business, sometimes before you’ve even started. Millennials, in particular, can be susceptible, as they are most likely to go online to search for a loan.
Before an angel investor or venture capital firm will invest in a startup, the business has to prove its viability through a lengthy review process called due diligence.
Are you confused or overwhelmed by retirement options for your business? Don’t worry—you’re not alone. In fact, about 30% of small business owners report they’re unaware of their retirement options. To help you grasp the ABCs of retirement, we’ll provide a broad overview of basic retirement paths to help you gain a better understanding of basic options to consider for you and your employees.