For the first time in almost a decade, the Fed has raised interest rates. What does this mean for franchising? Mike Rozman, President and CEO of BoeFly shared his thoughts today since franchisees and franchisors alike have raised their hands. “The economy is healthy and that’s good news for growth,” said Rozman. Coming out of the recession the Fed’s interest … Read More
After being defeated, Vince Lombardi, the legendary football coach said that his Green Bay Packers didn’t lose the game, “we just ran out of time.” Similarly, business owners are worried they will run out of time to refinance their balloon mortgages coming due. So if you own your office building, warehouse, restaurant, small hotel or franchise, you need to know … Read More
Entrepreneurs in the clean tech and renewable energy sectors may want to look to the U.S. Small Business Administration for help financing their operations.
In addition to pressing the flesh, my mother told me not to slouch, look ‘em straight in the eye and dress “clean cut.” Although I never quite understood what clean cut meant, I don’t think she envisioned the dark, pinstriped, vested suits that I wore two decades ago during my commercial real estate and business financing career. Sure, the digital … Read More
If your business is like most U.S. small businesses, you will be, subject to certain exceptions, eligible for an SBA loan. The specific rules regarding SBA Loan Requirements are found in a series of Standard Operating Procedures (SOPs) that the SBA has promulgated to guide SBA Lenders as well as in Title 13 Parts 120 and 121 of the Code of … Read More
Last week Karen Mills, SBA Official, announced that the SBA hit an all-time record in small business lending this fiscal year, with over $30 billion in lending, supported to over 60,000 small businesses. This signals a record year in the nearly 60-year history of the SBA itself. While this news should signal the rise of small businesses looking for capital, … Read More
Small businesses, from mom-and-pop shops to independent franchise owners, have faced enormous challenges in seeking financing since the beginning of the credit crisis. When Standard & Poor’s downgraded U.S. sovereign debt on Friday August 5th, countless small business owners wondered whether access to financing would become even more difficult. Beyond the small businesses themselves, the larger economy seeks to understand … Read More