Business Loans

photo credit: afeld
Your business is doing well. Your customer base is growing, and during the last quarter you actually turned a profit for the first time since you opened your doors last year. You have a solid business plan and now it’s time to think about moving out of your rented space, buying more equipment, or perhaps hiring more employees.

Perhaps your business is profitable but during your slow season you’re short of cash. Or your delivery truck just broke down and you have decided its time to get a new one. You need to get cash to keep your business moving forward.

Where do you start? The good news is that there are a wide variety of credit and loan programs available that can be applied to almost any business situation. The bad news is that the choices can seem complex and overwhelming. Here are some options that a small business owner can consider. read more »

photo credit: tapioliller

SBA May Not Be Able to help Small Business Lending and the Economy

The economy lost 2.6 million jobs in 2008 – the highest level in more than six decades. And there are projections of up to 2 million more in 2009. GM has been told by the Treasury Department to prepare for a bankruptcy filing, possibly as early as June. No one knows how many jobs across several sectors will be lost. On Monday April 13, you could buy a share of GM stock for about the price of a tall Starbuck’s regular coffee – no latte, no nothing. Think about one person and how that person’s normal spending ripples through the economy. Think about just the little things you spend money on in good (normal – not great) times. Maybe now you fix lunch at home to take to work; maybe you don’t buy that cup of coffee (or at least the Danish to go with it); maybe you even wear that shirt or blouse one extra day to save money at the cleaners, and on and on. You might be surprised when you start looking at the list. And each dollar that is not spent somewhere, such as a local small business, makes it a little harder for that business to make ends meet, resulting in possibly having to let someone go, cut back on its own purchases, etc. read more »