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These days, small-business owners like Metzger have to be creative about getting the money to start and expand their companies. Many are turning to nontraditional sources, such as credit unions. Increasing numbers are going to online lending sites that cut out the traditional bank middleman and to factoring companies, which buy companies' future
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Scammers are taking advantage of the credit crunch to entice small business owners with fake loans. Here's how to identify the warning signs.
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The more businesses a person owns, the higher his or her income, education level, and loan amounts and mortgage, finds an Experian study of small-business owners - sole business owners and multi-business owners.
Compared with the overall population, small business owners are more likely to be married and have children, have a college education
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In the last 30 days, lenders have sent several hundred thousand letters advising borrowers that their home equity lines of credit are frozen. Small-business owners who use home equity lines to bridge cash-flow gaps throughout the year are also being stricken by these curbs.
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Loans intended to help current members of the military, veterans, and their spouses are proving extremely popular. The Patriot Express Loan Initiative has distributed more than $100,000 million since it came into existence in June of last year.
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Given the current economic climate, you would think the government would be doing all it can to bolster Small Business Administration (SBA) loan programs. But the Bush administration is proceeding as if it was business as usual. The administration, in fact, is once again proposing substantial SBA budget cuts, as it has every year since the preside
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When you are negotiating a debt settlement, it is important to appeal to the debt collectors’ sense of compassion.Understand that a debt collector is also human. This may be hard for anyone to believe as most times they portray themselves as being leeches.
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In order to get out of your debt, you must apply the secrets of debt freedom. These tips are the foundation of becoming debt free and creating options in your life.There is an old saying that talks about stupidity. It goes something like “the definition of stupidity is doing the same thing over and over again, expecting a different result”. For ex
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Searching for a government grant or no-interest loan to start a business? Don't waste your time.
"I've worked in small-business development since 1989 and there have never been any special programs for women and minorities in terms of easier access to money," says Lori Kravets, executive director of the Growth Opportunity Connection, a non
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A Senate leader grilled Bush administration officials about when, if ever, they would implement a new law aimed at increasing business assistance for veterans and reservists.
Kerry asked Small Business Administration chief Steven Preston about plans to implement a new law, signed in mid-February, that tries to help small businesses owned by vet
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Perhaps you're familiar with Kiva or MicroPlace; both of these sites facilitate loans between comfortable individuals and needy people in third world countries, and they've gotten a fair amount of press for their good deeds. Other entities do the same sort of thing for less disadvantaged folks.
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The mortgage credit crunch has spilled over into business lending as local banks are less risk-inclined than they used to be and credit is harder to come by for businesses, U.S. Small Business Administration officials said. The number of SBA-backed loans from banks has trended down as banks toughen their standards and small businesses are more cau
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How will small and midsize business fund their IT spending next year? Don't be surprised if many turn to online peer-to-peer (P2P) lenders. P2P lending will continue to surge in 2008, even as the economy teeters on recession. According to the Wall Street Journal,"Roughly $100 million in new person-to-person loans will be issued this year [2007],
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There are banks and credit unions and loan sharks. Now you can add a new funding option to the list and it's one that small businesses, with good solid credit, may find extremely beneficial. Simply, the Lending Club uses social networking to hook lenders and borrowers together. It's like the Match.com of credit. Those with good credit reports ca
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