If you have been watching the news, you will know that America is currently in a financial crisis. Labels such as “recession” and “Great Depression” have been bandied about, but we all hope they won’t stick. On October 3rd, the government’s economic bailout package was passed to rescue our failing financial institutions. We know how…
Bad Letter Practices
There’s a duality in business communications that not only hard to ignore, it’s annoying. Think for a moment about when you go to your mailbox or startup your email. The first few moments – minutes – are spent sifting and discarding junk mail. We’ve all gotten pretty good at spotting the sales pitches, the free…
Small Businesses Need 401k Plans Too
It’s easy for a small business owner to be so caught up with their business that they forget to take care of themselves. One such area of personal neglect is their retirement program. It’s not their fault however; most small business owners feel that they don’t have enough employees to warrant a 401k plan. The…
Fighting Fire with Fire
There are many challenges for the Small Business owner, not the least is finding money. Aside from financial troubles, a small business owner can find themselves afoul of any number of government agencies. When Big Brother is bullying you, who can you call? The SBA has a sympathetic ear and champion for you: the SBA…
A Local Place to Get a Loan
For any business and especially start-ups, you need money. There are many places to get money; the most obvious of course is a bank. For those of you in the market for a small business loan, the SBA is either your first visit or the one right after the bank. There is another source of…
Look Deep into Your Company
For your business to thrive, you have to know what’s going on. Unfortunately, it’s not as simple – usually – as counting your deposits and subtracting costs. There are many financial factors and variables that dance constantly on a day by day basis. It is very important that you as an owner know the health…
Dealing With a Stacked Deck
In business, you are always presenting. It might be a big show for a bank to get a SBA loan. It could be a conference for a large group of potential clients. You are even presenting when trying to convince one person to embrace your ideas. Presenting is an art that is based on science….
Mythical SBA Facts
Word of Mouth is great for advertising for your business, but can be misleading or even harmful when it comes to getting an SBA loan. Here are some myths and their explanations from Mortgage101 and USgovinfo. Myth: A person can get cheaper interest rates for business loans from SBA. Fact: SBA does not give rates…
Go Ahead and Let the Wind Blow
The SBA isn’t just there to help with your business crises. In response to Hurricane Gustav, the SBA sent more than 125 customer service representatives to Louisiana. They will work with the Louisiana Economic Development Department to take care of Louisiana’s small business needs. Among the help provided will be the creation of five Business…
Don’t Overdo It
As you probably already know, the SBA doesn’t have money to loan to you. No, the money comes from private lenders such as a bank. Instead of money, the SBA merely guarantees your loan, freeing the bank to give you better terms, or to make the loan in the first place. While this may give…