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While every business has a bank, few have a banker. That’s because bankers are too often seen as obstacles standing between an entrepreneur and the bank’s vault. However, small businesses are not doing business with a building — the bank — they are working with people — the bankers. So forging a relationship is crucial.
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Finding investors is hard work. Entrepreneurs who have been through the process a few times, like Todd Parsons, 40, co-founder of San Francisco-based BuzzLogic, will tell you it's the hardest part of running a business. For Parsons, who co-founded BuzzLogic with Jeff Glover, 40, and Mitch Ratcliffe, 45, finding venture capital to turn the consult
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Small-business problems accessing capital is anticipation more than actuality for most business owners. In January, the National Federation of Independent Business survey found that "measures of credit tightness have not changed much in a decade. Only four percent of the owners (surveyed) cited the cost and availability of credit as their number
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Ken Gaebler knows that winning investor money is all in the pitch. A serial entrepreneur, Gaebler has raised $24 million for seven companies since 1995. Now, he sits on the other side of the conference-room table, as president of private-equity firm Gaebler Ventures in Chicago — and routinely watches newbie entrepreneurs present their ideas in a b
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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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Raising money for starting your own small business and defining what venture capital is.
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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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The turbulent economy is exposing yet another type of credit where bankers let their guard down: small-business loans.
Missed payments and losses on small-business loans are surging at banks throughout the country that were so eager to pad their profits that they essentially threw typical underwriting methods out the window. Some lenders doled
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