Business loans are a cornerstone of small business finance, and it is more important than ever to have access to the cash you need to infuse your business with funding for expansion, repairs, updates or for supplementing income when customer traffic is low. Unfortunately, the state of the economy over the past few years has led to more difficulty in finding a small business loan, although there are ways you can increase your chances of getting approved. Continue reading
CDCs, also known as Certified Development Companies, play important roles in SBA loan financing efforts. CDCs even have their own special SBA loan type, called the 504 program. However, CDC SBA loan programs are not for everyone. CDCs (non-profit corporations) are created, certified and regulated by the SBA to offer financing to small business with a community economic development focus. With over 260 CDCs nationwide, each with a defined “Area of Operations,” all states in the U.S. have at least reachable office. Continue reading
The Small Business Administration is a government organization dedicated to providing resources to small business owners. The organization exists to support these businesses and help them thrive in a competitive market by providing access to financing, government contracts, information and more. Now, the SBA has partnered with the Hispanic Chamber of Commerce. Continue reading
A business loan is a one-time financing transaction in which a lender provides a business with a certain amount of money in exchange for the payment of interest. Business loans are extremely beneficial to businesses of all sizes that are in need of extra cash. Below are five of the most important reasons why you should apply for a business loan today. Continue reading
While the most financially secure way to run your business is to use the profits to expand as it grows, sometimes this method isn’t possible. If you have to carry a line of inventory or need to take on an employee in order to help do the work that generates the profits, you probably won’t have the cash flow to do those things, and pay yourself, during your first months or years in business. Continue reading
