Category Archives: Funding

How to find the right investor for your small business.

By Caron Beesley, Contributor

Although small businesses still turn to credit unions, community banks, and traditional banks for their capital needs, outside equity such as angel investment and venture capital, are  valid options. In fact, the venture and angel capital industries are experiencing a sharp increase in demand thanks to a greater certainty in the domestic economy.

If you’re looking for a private equity firm, venture or angel capitalist to fund your business, what are your options? Below are some tips for identifying the right fit for your needs and taking those important first steps.  Continue reading

SBA Loans Explained

By Caron Beesley, Contributor

It’s been a stellar year for SBA lending, which is good news for small businesses.

In FY 2014, the SBA’s flagship loan program, the 7(a) Loan Programachieved another lending record. By the end of the fiscal year (Sept. 30), SBA had approved 52,044 7(a) loans for nearly $20 billion, an increase of 12 percent in the number of loans and 7.4 percent in dollar amount over the previous year.

If you have struggled to get financing in the past or are thinking of venturing into small business loan territory for the first time, you may be wondering what SBA’s loan programs are all about.

By way of introduction to SBA’s loan programs – what they are, who can benefit, and how to apply – here’s a brief explanation.  Continue reading

5 overlooked options for financing your small business.

Need financing to start or grow your business? If you’re starting a business that requires significant financial investment up front, finding a source of funding can be a challenge. Many start-ups and new small businesses often find they may not qualify for a traditional small business bank loan. Without a proven track record of 3-5 years under your belt and/or established business credit, many banks simply won’t take the risk. But before you risk your life savings or re-mortgage your home, you should know about some possible alternatives.  Continue reading

Beware of easy money schemes.

A new predatory lending scheme is targeting struggling small business owners.

Sadly, just like the old loan sharks in the movies, many small business owners have fallen victim to these predators, and it has cost them their business and sometimes personal bankruptcy.

Everyone understands that bank loans are more difficult than ever to obtain for a small business owner.  Whether you blame it on too much regulatory control, like Dodd-Frank mandates, stingy bankers or an anemic economy, if you need funds to grow your small business, it can be a very steep hill to climb.

A fact of entrepreneurial life is that your startup capital usually comes from your savings, your friends’ savings, your family members’ savings and a bunch of credit cards.  But even when you are profitable, you need money to grow your business.  Continue reading

Financing rules for small business owners.

by OnDeck CFO Howard Katzenberg 

Howard Katzenberg knows a thing or two about how to grow, and lend to, a small business. A veteran of American Express’ small business division and former consultant for Swift Financial Corporation, a small business lending firm, he has seen the small business lending landscape from all sides, and has had a front row seat addressing the challenges commonly faced by small business owners. As the CFO of OnDeck, he also has taken a small business from infancy to IPO.

Howard took the time to answer our questions about growing a business, how to manage lending in the modern era, and the most important financial tasks for any small business owner.   Continue reading