How-To, Buy An Existing Business: Bank-Term Loans

Go with old reliable and get a business loan from the bank. Definition or Explanation:Term loans are the basic vanilla commercial loan. They typically carry fixed interest rates, and monthly or quarterly repayment schedules and include a set maturity date. Bankers tend to classify term loans into two categories: Intermediate-term loans: Usually running less than…read more

How-To — Buy an Existing Business: Asset-Based Loans

Use your assets — like accounts receivable and inventory — -to help you land funding. What It Is: Asset-based loans are usually from commercial finance companies (as opposed to banks) that are offered on a revolving basis and collateralized by a company’s assets, specifically accounts receivable and inventory. Appropriate for: Companies that may be rapidly growing, highly leveraged, in…read more

How-To – Buy an Existing Business: Asset-Based Loans

Use your assets–like accounts receivable and inventory—to help you land funding. What It Is: Asset-based loans are usually from commercial finance companies (as opposed to banks) that are offered on a revolving basis and collateralized by a company’s assets, specifically accounts receivable and inventory. Appropriate for: Companies that may be rapidly growing, highly leveraged, in…read more

8 HR Compliance Trends to Watch in 2017 (By ADP)

ADP is a vendor of mine and I get good stuff from them all the time. This is part of the reason why it is on the higher end for payroll services. Here for your enjoyment is a nice 2017 list of things to look for in HR for owners and operators. 8 HR Compliance…read more

How-To Buy A Business: Equipment Leasing

What It Is: Equipment leasing is basically a loan in which the lender buys and owns equipment and then “rents” it to a business at a flat monthly rate for a specified number of months. At the end of the lease, the business may purchase the equipment for its fair market value (or a fixed…read more

How-To Buy an Existing Business: Microloans

When you need only a little cash to grow, it’s time to check into microloans. Definition or Explanation: The Microloan Program was developed by the SBA in 1992 to increase the availability of very small loans to small-business borrowers. It achieved permanent status in 1997. The program uses nonprofit intermediaries to make loans to new…read more

How-To Start A Business: Community Development Financial Institutions (CDFIs)

So you’re not “bankable” according to traditional rules–your community may still have resources to help fund your business. What It Is: CDFIs primarily provide loan financing to businesses in areas that need economic development. CDFIs make loans that are generally “unbankable” by traditional industry standards. Appropriate for: Startup to established companies that can demonstrate the…read more

How-To: Startup Financing

What It Is: Startup financing is the initial infusion of money that advances an idea or an intention into something tangible. Appropriate for: Any business Supply: Even though it’s everywhere, it’s sometimes difficult to find. Best Use: Commencing initial operation to the point where outside investors can see and feel the venture, as well as…read more

Should I Start a Coupon Biz? Q&A

Q: I am interested in producing targeted coupon books for my community. Do you have any further research on this topic? A: The web is affecting the local coupon business in several ways. First, it can help you distribute your coupon books. Someone entering a city name and the word “coupon” into a search engine…read more

3 Pointers for Choosing a Business to Start

Q: I love kids and would like to start a service-oriented business. My head hurts from trying to decide what to do…children’s day care, after-school care, exercise gym, summer camp. Could you give me some advice? Mel Miami A: You’ve made a great start by identifying the types of businesses you’d like to own. Here…read more