Financing / Loans
Published Jun. 15, 2013
The Worcester Business Resource Alliance (WBRA) is a loose network of business professionals, technical assistance providers, lenders, and community development organizations that provide services to entrepreneurs, small business owners and managers in Central Massachusetts. Each month, representatives meet to collaborate and update each other on upcoming events. Current WBRA member organizations are outlined for the convenience of prospective clients at http://wbra.wordpress.com/organizations/.
The latest update of upcoming WBRA business events is found at http://wbra.wordpress.com/upcoming-events/.
Published Apr. 29, 2013
This document provides an overview of the CDC's business loan programs.
Published Apr. 25, 2013
Steve Strauss, founder of www.theselfemployed.com, explains why establishing business credit is so important and how to go about doing it.
In my last column, I discussed the why checking and cleaning up your personal credit report is so important to your business, especially since so many small business people have not separated their business and personal credit. And that’s really too bad, because comingling personal and business credit can have disastrous consequences for both.
Published Mar. 29, 2013
Learn about alternatives for small business financing and increasing the appeal of your loan application.
Typical Requirements to Obtain a Bank Loan
Credit Score of 700 or above.
Cash flow sufficient to make loan payments from day “1”.
Collateral sufficient to cover entire loan.
Obtaining a loan for 100% of capital needs is usually not possible. Lenders usually required borrowers to have some personal or other source of cash to cover at least 25% or more of the total need.
Published Mar. 29, 2013
Webinar that discusses preparing your business for funding
Hear from Ami Kassar of MultiFunding LLC as he provides an explanation and description of the issues that small business owners have to think through and prepare for as your get your business ready for funding - at all stages.
Published Mar. 27, 2013
Steve Strauss, founder of www.theselfemployed.com, explains the concept of seller financing and how/when it may work for buying a business.
Q: I have been offered a chance to buy a business and the owner is willing to finance part of the purchase. What I mean is that I cannot afford the $50K he is asking but he said he would be willing finance half the cost over 5 years if I could come up with the other half -- $25,000. It seems too good to be true. Is it?
The seven Minnesota Chapters of SCORE have jointly developed a series of online on demand recorded webinars. These topics cover issues beyond what we can provide in a Face-to-Face workshop setting due to their use of technology and newest of the issues to new entrepreneurs. Click HERE to view the topics currently available.
Washington, D.C. - See how the small business community feels about acquiring capital and how they are securing financing, where are they looking, and how are they succeeding. New in 2013, SCORE, mentors to America’s small businesses, will be releasing regular and timely infographics about small business topics and trends. Visit www.SCORE.org for more information or email questions to firstname.lastname@example.org.
Published Mar. 18, 2013
A look at the different venues that small business owners use to obtain capital for growth including loan approval rates and the total cost on a business, in time and money, of financing.
A look at the different venues that small business owners use to obtain capital for growth including loan approval rates and the total cost on a business, in time and money, of financing. Learn more by downloading the graphic that explains, "Where do I get the capital for growth?".
After several years of financial market upheaval, banks have once again opened the lending window to viable small businesses with proposals that meet the loan threshold at the bank. But as Chicago-based author and consultant Carol Roth notes, the number of loan approvals is not high because the banks are determined not to repeat past mistakes.
While banks remain a primary small business funding option, this is the time for entrepreneurs to consider some alternate sources of start-up or expansion capital.