A brief explanation of SBA Microloans

By | September 22nd, 2016|Categories: Finance|Tags: , |

The Microloan program provides very small loans to start-up, newly established, or growing small business concerns. Nonprofit community based lenders make these SBA-backed loans to eligible borrowers, up to a maximum of $35,000. The average loan size is about $13,000. The maximum term allowed for a microloan is six years. Interest rates vary, depending upon the [...]

What Kinds of Loans Do Small Businesses Look For?

By | July 7th, 2016|Categories: Finance|Tags: , |

Small business loan Financial institutions can also call these term loans or business venture loans. These loans are often larger than line of credit borrowings, and require at least as much documentation. Unlike corporate credit cards and lines of credit, borrowers usually draw down the entire amount of small business loans for a major purchase. The [...]

3 Factors that Can Harm Budgeting

By | July 6th, 2016|Categories: Finance|Tags: , , |

Budgeting is usually a good idea as it might help you to keep a record of the way you use your money.  A budget, which is done well, should be able to help you understand how your money is spent and should also help you make decisions about where and how to cut costs.  However, before [...]

The Power of Forecasting

By | July 1st, 2016|Categories: Finance|Tags: , , |

When you’re running a business at a fast and furious pace like most small business owners do, it’s more likely you’re focusing on decisions that affect today or evaluating ones that were made yesterday. The last thing you want to do is slow down and think about three or six months from now. The key to [...]

How Good Credit Can Help Your Small Business

By | July 1st, 2016|Categories: Finance|Tags: , |

Running a small business these days requires a healthy business credit report. However, your personal credit history can have a significant impact on your business’ credit. While you’re building business credit, be sure to care for your personal finances, too. Running a small business is a challenge for anyone. The hours are usually long, and the [...]

In Conversation with Mitch Jacobs, CEO of On Deck Capital.

By | June 30th, 2016|Categories: Finance| talked to Mitch Jacobs, founder and CEO of On Deck Capital, Inc., a New York based company providing loans that work for small business-not the other way around. Mitch founded On Deck Capital in 2006 and, to date, has provided more than $41 million in loans to small businesses when traditional bank loans were not [...]