Am I Fundable? How Your Business Credit Score Affects Your Fundability

David NayorSmall Business Lending

Similar to consumer credit scores, small businesses also have credit scores. In a like manner, a small business credit score furnishes lenders with fast, objective measurements of credit risks. The Small Business Scoring Service (SBSS) has made significant improvements to the business financial scoring process. Now a major benefit of utilizing the SBSS is accelerating the funding process by allowing … Read More

Start-Up Small Business Loans & Business Loans Under $150K Increase

David NayorSmall Business Lending

  Small business loans for start-up businesses under the SBA’s 7a loan program, increased to 8,320 for the seven month period ending April 30, 2014 according to the U.S. Small Business Administration. This represents an approximate 5% increase over the same period last year.  These start-up loans represented approximately 31% of the business loans approved during this period. The emphasis … Read More

5 Steps To Startup Success For Your Business

Bob TannenhauserSmall Business Lending

 Starting a new business is difficult. Many businesses fail early, so startup success is important. There are a few steps you can take to make any business startup a success. By: Bob Tannenhauser   1. Write a Business Plan Writing a business plan helps business startups solidify what they are really trying to accomplish. It allows you to state exactly … Read More

Small Business Lending Increases as Lending Standards Ease

Bob TannenhauserSmall Business Lending

Both the number and dollar amount of small business loans increased in the fourth quarter of 2013 for the first time in fifteen quarters according to the SBA Office of Advocacy.  Small business loans under $1 million increased by 0.4% during the quarter, up from a 1% decline in the previous quarter. Commercial and industrial loans (C&I loans) and Commercial … Read More

The 5 Keys to Getting a Small Business Loan

Bob TannenhauserSmall Business Lending

BoeFly.com, the only pure online marketplace used by thousands of small businesses for almost four years, to efficiently connect with over 3,600 participating lenders. BoeFly analyzes their financing requests and compares them with the lending preferences of its network of lenders to provide this guide for business borrowers. The basic principles set forth apply whether it is a start-up business, … Read More

Veteran Small Business Loans

Bob TannenhauserSmall Business Lending

They served valiantly with great skill.  They endured tremendous hardship on our behalf.  Many were injured and suffer permanent disabilities.  Now, veterans are facing the specter of unemployment. With the war in Afghanistan winding down, budget constraints being imposed on the defense department, and the use of technology increasing, there is a dramatic rise in the number of military personnel … Read More

How Lending Platforms are Enhancing The Business Finance Market

Bob TannenhauserSmall Business Lending

Regarding a recent article published in the NY Times ‘Can’t Get a Bank Loan? The Alternatives Are Expanding’ discussing the new opportunities for businesses with alternative lending, Author Amy Cortese outlines how new lending software and platforms have made obtaining financing much more efficient for borrowers. After 2008 many businesses have struggled to grow and enhance their business due to … Read More

CAN ACCEPTING BITCOIN HELP YOUR SMALL BUSINESS?

Jessica SarterSmall Business Lending

BitCoin and Small Business Owners

Everyone is talking about Bitcoin—it certainly has generated lots of recent buzz, but is it right for you—the small business owner?   But first, exactly what is Bitcoin?    According to Wikipedia, Bitcoin is a peer-to-peer payment system and digital currency that provides for instant payments to the vendor; it is an alternative way to accept payments, much like credit cards and … Read More

NEW YORK IS RIPE FOR SMALL BUSINESS

Jessica SarterSmall Business Lending

Small business owners and entrepreneurs —listen up.  Now is the time to start or expand your small business in New York.  As of January 1, 2014, New York State has become much more tax friendly for entrepreneurs and small business owners.  Thanks to Governor Cuomo’s groundbreaking program, START-UP NEW YORK, tax-free zones have been established throughout the State for new … Read More