An alternative to a bad credit business loan refers to a source of capital that small businesses can access, even if they have poor credit scores or other issues that would typically prevent them from getting approved for external financing. What is the importance of alternatives to traditional loans? At first glance, having multiple options for financing a small business outside of what is offered by traditional banks seems redundant. Business owners who are even aware of other options may be wary of them, as outside of the realm of a bank loan there are many different products and entities, some more beneficial for small businesses than others. However, when it comes to the question of whether or not these alternative capital sources are important, consider this; the average 7(a) loan amount in fiscal year 2012 was $337,730. Why is that significant? Because it demonstrates an important reality related to small business lending. The fact is, many of the enterprises we typically think of when

There are many ways to increase the bonds that small businesses share with their best customers, from rewards programs, to community events. When it comes to deciding how to stay in contact and deepen your rapport, it’s important to factor in the financing aspect for your small business, balancing your ambitions and you cash flow and ensuring that you get a good ROI on the money that you do spend while keeping your customers happy. One of the best principles that small businesses can espouse is taking what you already have and making it work more for your business. A perfect illustration of this concept can be found in the creation of a newsletter. So your small business has a social media presence? It’s also got a blog? Great! Then you already have everything that you need in order to put together a newsletter that can boost both your site’s traffic and the size of your social media presence. Here’s how it can work for you. Step 1:

There is large number of small business owners in the US who, due to one reason or another, have poor credit scores. While credit can affect a wide range of things in a person’s personal life, including the rental of an apartment to things as wide ranging as the ability to find a spouse or get hired, it does not mean that life is over for the person who has it. On the contrary, small business owners with bad credit actually have more options open to them than many of them realize. The ability to obtain financing to grow a small business is incredibly important, and while some banks will fund bad credit business loans, usually backed by the SBA, many will find that the traditional banking institutions that they would typically approach when trying to access credit will turn them away as a result of an extreme aversion to risk. Some of the typical reasons that business owners seek bad credit business loans and their

As a business owner, your cash flow is like your pulse. At all times it should be kept strong through a knowledge of responsible spending as well as a cohesive plan for obtaining capital should the need for expansion, wage payments, or other pursuits that require liquid cash arise. The economic climate of the last few years has been a tough one for many businesses; bad credit, devalued property and assets and increased requirements on the part of banks have made small business lending into one of the most hard-hit parts of the financing world. The ability to easily apply for credit from banks used to allow small business who wished to grow the option to access capital at will. Today, when a business owner goes to those same banks, they are much more likely to be turned away. An additional problem that faces many business owners goes beyond the increased lending requirements that they face. High risk industries as designated by banks include some

The financial climate of the US in the post recession period has been grim for small business owners. The collapse of Lehman Brothers triggered a severe clamp down in lending requirements on the part of major banks, and small business programs were some of the most hard hit targets, with collateral demands increasing at the same time that many small business owners experienced dips in revenue from depressed sales as well as devaluation of their homes and other assets that could be used to secure funding.  In an informative article from the Washington Post published July of this year, it was noted that small business lending rates were down not only in larger banks, but also smaller local banks and credit unions, frustrating the hopes of expansion of many business owners who think of these banks as the only sources of financing available to them outside of family. Defaults on loans or mortgages caused by revenue losses dealt another blow to US small business owners,

An interesting article on dailyfinance.com explores the gap between the number of small business owners who handle their own digital marketing, and those who say that they would like to outsource the responsibility to others. In today’s increasingly digital world, there is a large amount of pressure on small business owners to stay on top of trends and changing currents in digital marketing and social media. The main barriers that small business owners cite that prevents them from doing their own SEO and digital marketing is, predictably, time. According to a survey by Constant Contact, inc. 19 percent of small business owners surveyed said they would prefer to outsource their social media, citing a mean value of an extra hour in their day at $273.00.  The biggest reason that small business owners do not outsource their social media is cost, however, the perceived cost over the cost of the time they spend might actually indicate they are better off simply outsourcing this important responsibility. Small

Video is a medium that brands have used to create ad materials that engage audiences for over a hundred years. The level of emotional resonance and memorability that can be achieved with video is second to none. Just how effective is video at conveying information? According to Dr. James McQuivey of Forrester Research, one minute of video can convey as much as 1.8 million written words. This means that a single video can potentially create as many conversions on you site as multiple pages of written copy. Still not convinced? Hosting video on your website conveys other benefits at well. In terms of SEO, your web page is more likely to come up high in search engines if it contains video, as indexing robots look for video as a way of identifying material that is potentially engaging for web surfers. In addition, video can greatly increase the time that visitors spend on your site, another important aspect that search engines take into account when ranking

Small business owners in all stages of business growth need to know what their client base wants, how much they are willing to pay for it, and when and where they want to go in order to buy it. Market research is not simply nice to have for business owners, it is in fact an essential part of operating a business and without it you are flying blind. For this reason, it should be clearly understood by business owners just what is meant by market research and how they are able to do their own in order to develop a clear cut plan they can use for running their business. The first thing business owners need to do before they conduct their market research is identify their desired client base. This can dramatically effect the way in which you will collect your data. for example, a business whose primary clients are in their late teens and early twenties might do well with a facebook survey,

There is no question that it is difficult for small business owners to procure loans in today’s economy. The media has been abuzz with reports on the freeze of business credit, and the aftermath of the great recession has property and other forms of collateral devalued to the point that they are no longer sufficient for securing business loans. However, the Washington Post recently put out an article positing that the decline in business lending is not an entirely new phenomenon. The Cleveland Federal Reserve has released charts indicating that small business lending from banks has been on the wane since as far back as the mid 90’s when the economy was strong. Traditional banks are cutting back the percentages of their portfolios that include business funding, and evidently have been doing so for over a decade. According to the Federal Reserve, this slow downward trend indicates that there is not likely to be a thaw in the lending practices of banks towards small business owners,

According to an annual survey by thumbtack.com , the best states and cities for small business in the US are Utah, Alabama, New Hampshire, Idaho and Texas. Additionally. four of the top ten residential areas for small business incubation were located in Texas, which due to a mild climate, low overhead and large population is very hospitable to entrepreneurs. Another factor that allows businesses to grow is the sense of community and preference for local brands exhibited by the local population. Surprisingly, the majority of businesses surveyed stated that taxes in their areas were not unfair, and said that the biggest factor in determining business friendliness was in fact the local licensing requirements. The easier it is to apply for licensing, be if for liquor, food services, hotels or other types of businesses, the easier it is for businesses to devote time to growth and avoid getting bogged down in bureaucracy. Another key attribute to business development is the ability for business owners to obtain small business

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