Monday, April 26, 2010

Big gains for small business in Dallas-Fort Worth

According to the Dallas Business Journal loans from the U.S. Small Business Admisistration have increased 84 percent in recent months. This increase is due to an improving economy, lenders who are able to lend and entrepreneurs who are taking risks.

The trend is expected to continue in 2010 and could be one of the best years every for small business lending and finance in Dallas - Fort Worth.

While SBA guaranteed loans are not a sure thing, business owners that are looking to grow their business should be aware these loans are out there but may take some time and effort to get.

For more information on the SBA loan programs you may visit or a local participating lender.

Tuesday, April 20, 2010

SBA to help small business owners grow their business.

Many small business owners have been looking for growth capital and lines of credit to help their business grow during the past several months. Most lenders however, have been reluctant to make small business loans due to the uncertain market. As a result, many business have sought other financing sources for their business needs.

Well... there is good news for small businesses as some may benefit from a Small Business Administration loan. During the past several months new government legislation has allowed the SBA to guarantee a higher percentage of loans. These loans originate from a typical lender but are guaranteed by the Small Business Administration.

Althought the higer percentage may only be a temporary fix, there are SBA loans available from a variety of banks .

Consult your local SBA office for more details or look for lenders in your community to see what SBA programs they may be offering

Monday, April 19, 2010

Cash under the mattress?

A recent study conducted by Brother International asked 500 business owners what they thought about the current economic conditions. Of the 500 surveyed 53% said stockpiling cash was the best strategy for getting their business through the tough economic conditions. While this theory may not work for everyone having ready cash reserves is always a good idea.

Efficiency is also a concern with most surveyed saying they will strive to make their companies more efficient this year. Cutting costs whereever possible and holding off on those large expendetures may be a necessary way of reaching this efficiency.

Planning of course is the key to running any business. While most companies do utilitze a business plan certain circumstances make sticking to it difficult. The current economic situation is a good example. Whatever the current climate always try to at the very least prepare yourself with a financing plan. There are a number of alternative financing opportunities for businesses like SBA loans, asset based loans, and invoice factoring to name a few. While having a little cash under the mattress can't hurt, these other sources of financing might be a safer bet.

Tuesday, April 6, 2010

Advice for Small Business

What makes a small business successful? The list is long and each business owner has his or her own formula for success. Here are a few tips for just about any business:

1. Treat people as you wish to be treated - This does open doors and has its own psychological rewards.

2. Make sure to match your strengths with the right opportunity - Don't venture into a field in which you have limited experience.

3. Systems and procedures - No matter how profitable a business or how hard you have worked if you don't have the right systems, equipment and procedures in place your business can be reduced to virtually nothing over night. Invest in a website, equipment and professional consultants. It's money well spent.

4. Plan for a rainy day - Business will have its ups and downs, you can count on that. But if you have a strategy to deal with problems they are more easily handled as they happen. Work the solutions and learn from the results.

5. Have a long term plan - Know where you want to be and when and plan for it. Arrange financing whether it be with a bank, venture capital company, factoring company or other. Financing is vital to the success of a growing business.

6. Employ the right people - Find the right people for your business and tap into their talents. Employees are an asset for any business and finding the right ones can be a challenge.