The U.S. Small Business Administration (SBA)'s 7(a) loan program is the most popular source of small business financing backed by a federal guaranty. Loans can be approved for amounts up to $5 million, with maturity rates from 10 to 25 years, and average APR rates of 6.30%-10%. Since SBA 7(a) loans have strict requirements, a majority of small business owners do not get … [Read more...]
Peer-to-Peer Small Business Loans Beat the Big Banks
Guest post by Dan Azeroual. There’s no question that the big banks & Wall Street are under Congressional and regulatory siege (or is it the other way around?). The reason, of course, is that if Washington is going to bailout the too-big-to-fail banks, then Washington needs to show everyone, from the “Occupy Wall Streeters” to the Tea Partiers, that it’s going to be … [Read more...]
Lending Lessons Learned from Capital Sources Speed Dating
Post by Liz Cullen, contributing Women On Business writer I recently went to a program put on by the Maryland Chamber of Commerce which linked small business owners with sources of capital. It was “speed dating” for business owners to find out who was still lending and the opportunities that are available with different banks. My last post discussed how in polls, women … [Read more...]
FTC and Other Organizations Aim to Help Business Owners Get Loans
Guest post by Shannon Suetos (learn more about Shannon at the end of this post) Being able to budget your money is key for a new business owner—doing so can be the difference between being successful or not. Budgeting is even more important these days with the state of the economy. The U.S. Labor of Statistics has reported that the unemployment rate (as of December 2009 ) is … [Read more...]
Finding Loans for Women Owned Businesses
Post by Amy Blais, contributing Women On Business writer If you live in the New York area, you may have seen the recent commercials about Mike Bloomberg’s Women for Bloomberg coalition campaign. Bloomberg, along with others, is focused on helping women and minority owned businesses with loans to help them grow. During tough economic times, it may feel like banks are … [Read more...]