The availability of business loans for the small and medium sized businesses that one typically thinks of as being representative of independent entrepreneurship in the US took a historic hit with the “credit crunch”, which started around 2007 and has persisted, although with signs of general thaw, until now. However, while statistically, small business loan volume is recovering, there has so far been a larger amount of loan volume going to business on the bigger, more established side of the somewhat broad definition of what constitutes a small business. In this financial landscape, business owners are increasingly turning to business loan alternatives, provided by a newer, more nimble breed of financing companies. As this trend is still relatively new, and there seem to be more of these companies out there every day, it’s important that business owners be able to successfully identify which ones have the ability to help the most. In general a good way to identify a positive financial resource is to investigate

There are many financial products geared for small business owners out there. Since the financing landscape can be so alien and complex, small business owners might not be fully aware of the range of options available to them. For small business owners who, due to bad credit or other financial issues, can’t find financing from traditional small business loan programs, the issue can become a lot cloudier. Aside from taking the time to create a plan regarding when to apply for financing, they also need to consider what they are eligible for in the first place. Where bad credit business loan alternatives fit in. More commonly known as merchant cash advance, these products function similarly to small business loans, but emphasize monthly sales over credit score as their main criteria for approval. These products are typically much faster to get approved for than business loans since they don’t require collateral, so for business owners who have bad credit or for those who simply need fast access to

The Summer brings with it some of the busiest months of the year for many small businesses. It’s also one of the best times for many businesses to use bad credit business loan alternatives. These products rely more on the strength of a business’s deposits, rather than credit, when making approval decisions. This means that for businesses where sales pick up in the Summer, they have their best shot at a higher approval during this time. Taking this information into account, small business owners who do have issues caused by bad credit may wish to create a plan for how to manage and finance growth during the Summer season. Create a strong set of goals to avoid wasting financing. The point of a growth strategy should be to allocate resources in a tactical manner in order to arrive at a desired result for your business. Just having capital on hand does not mean that your business will change, you must apply your bad credit business financing with

While there are many things that differ from industry to industry, and even from business to business, there are a few things that remain constant for every business owner. One of these is the need for a formal business plan. A business plan is required for everything from applying for a loan from a bank to recruiting business partners and top level employees, so it pays to have one that is both up to date and up to industry standards at all times. This isn’t a one time thing either. As your business grows and the markets you are in change, you are going to need to reflect this in your business plan with edits, additions and omissions. Something as simple as one key piece of information that is either wrong or outdated can make your business plan look bad no matter how clean the rest of it is, so keeping this document tuned up and ready to be looked at is a wise strategic

Navigating the financial landscape that comes with running a small business is often difficult, and it’s made even more tough by the presence of certain potholes and mirages. One common scam that small business owners should be aware of is the grant scam. How does a grant scam work? This type of scam is kept alive by a simple misdirection. Business owners will either stumble across or otherwise be made aware of a grant that their business is able to apply for, which, should they receive it, will give them what essentially amounts to free money. This should be the first logical red flag, but many business owners are willing to take the existence of grant programs at face value as fact. Once the business owners are sold on their grant applications, the next phase of the scam kicks in. You will be sold (or attempt to be sold) an expensive audit of your business plan, additional help filing your request, a one time fee, or

For some small business owners, taking care of their business is such a high priority that at times they can forget to take better care of themselves. Where this can become particularly evident is in the dietary choices that they make. When pressed for time, it can be tempting and all too easy to simply order takeout, or grab a doughnut off of a snack tray, but this is not going to do you any favors in the long run. Eating a healthy and balanced diet has benefits that go far beyond your waistline; it can improve your energy and mood and even help you live longer. This guide isn’t going to prescribe you with a miracle diet, rather provide you with some suggestions that you can use to make better choices and work with your on the go lifestyle. Switch to whole grains. Whenever possible, go for whole grain products as opposed to bleached flour. While some people prefer the texture and flavor of white

The “credit crunch” that has seen many traditional small business lending programs increase their underwriting criteria means that for many business owners, bad credit business loans are no longer a reliable or readily available option for financing their expansion. One of the biggest obstacles surrounding their applications is a lack of acceptable collateral to use as backing for the funding issued by their banks of choice. Collateral can take the form of a cash percentage of the business loan, a piece or multiple pieces of valuable equipment, such as a truck, a bulldozer or a specialty oven, or a piece of property such as a business or residential location. The problem is that many business owners either don’t have sufficient collateral to match the amounts they are looking for, or if they do, don’t feel comfortable signing an agreement with the possibility that they could lose their assets in a worst case scenario. A lot don’t know that there are alternatives that exist that can

While the last bit of nippy weather is finally fading away, small business owners everywhere are waking up to the promise of Spring, and a brand new busy season for many industries. Even as volume picks up and orders for seasonal products and services start to roll in, it can be helpful to get you and your employees energized and in a different frame of mind in order to make the most of the new season. An overhaul of your company culture isn’t necessarily in order, but doing something to celebrate the season and inject a sense of excitement into the office can be a good idea, especially if there have been morale issues on your team due to slow business, the cold, or both. Here are three simple ideas for greeting the Spring season that any small business owner can do. Try a classic activity, such as hosting a company picnic. Sure it’s cliche, but a company picnic is both simple to organize, low cost,

Following debates surrounding the federal minimum wage, small business owners are now in the center of yet another struggle regarding a proposed change in the way they must pay their employees. As reported by smallbiztrends.com, President Obama signed an executive order last month calling for an increase in the threshold of earnings over which employees become eligible for overtime pay. In plain English, the law would raise the threshold from the current $445 per week mark to somewhere around a suggested $640 and include more white collar and managerial employees in the group who would qualify for overtime pay. The rationale behind the law is to give back to those who work hard for the economy. As corporate America has begun to make more profit, the idea that these revenues should be shared with the employees who put in extra hours to make them seems like it makes a lot of sense. However, many warn that small businesses will become unintended collateral damage. While profitable corporations

One great thing about small businesses is the fact that as a business owner, you are able to constantly reinvent yourself and your brand. Reasons for doing so are many, and range from a desire to attract more customers, create some new buzz around an older business or just because you think a new look is what you need to get your employees energized. Sometimes, you will have inherited or purchased a business whose former owner had different tastes than yourself and you want to make your personal mark on it by changing the logo. It’s also possible that you are interested in creating some logo designs for use on themed days like holidays or during special sales, in which case you could be designing multiple logos all at once for a wide variety of uses. Whatever your reason for switching things up, when creating a new symbol that your business will be recognized by, it helps to put some extra thought into the process

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