Archive for December, 2010

Are you one of the many people who find themselves in need of working capital, but have a history of bad credit scores?  If so, you may find no lending institution will consider your loan application, even for amounts as small as $1000.  Faced with this dilemma, many people run out of ideas on how to get the cash you need to run your business.  Don’t despair, however – spending a little time researching the subject, you may find that you can get a business loan from the very same bank that previously denied your application.

Research and Network

Start by networking with people you know, as poor credit scores are common in today’s economy, and many people are in the same situation.  Through networking, or through an Internet search, you may very well find valuable suggestions on how to get the loan you need.  Many lending institutions understand the economy and are willing to give small business loans to people with poor credit scores but strong working ethics.  You should be willing to offer any assets your business has as collateral, such as your home or other equity.

Get Someone to Co-Sign for your Loan

Alternatively, look for a friend, family member, or business partner with good credit who will agree to co-sign on the loan for you.  Often you will need to offer these individuals collateral (such as a percentage of your business) as well, but this is a small price to pay to get the loan you need and keep your business afloat.  The bottom line; small business loans for business owners with bad credit are available, if you’re willing to do your homework.

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Ringing in the New Year for small businesses means a fresh start.  It is out with the recession and in with a positive viewpoint for 2011.  The main concern is to make sure history does not repeat itself.  With these top three business tips, you shall be certain to earn profits and not lose any sales.

Start Planning in January

Start outlining the plan of attack for 2011 in the beginning of the year.  It provides a clear picture of what the goals are helping the entire company stay focused on reaching them throughout the rest of the year.

Examine the Little Pieces that Make Up the Big Picture

You cannot solely concentrate on the main goal.  You have to consider what it takes to reach it.  Think about the little steps it requires to attain the final achievement then break it down into daily, weekly and monthly tasks.  Think of it as your checklist keeping the entire team on the right track.

Set Realistic Goals

Thinking a small business is going to earn a million in the first year is a bit exaggerated.  Even if you have an extraordinary product, services, and employees there are other bills that deduct from the bottom line.  There are payroll dues, taxes, and accounting costs.  Marketing, promotions and advertising budgets subtract from it too.  You need to set realistic goals.  Ones attainable ensuring you experience a successful year with lots of growth and expansion potential.

If you are opening the year in a financial slump, then talk to one of our unsecured business loan or small business loan professionals today!  You need proper cash flow to operate effectively.  Otherwise, you are starting where you left off and that is not a good place for any business to be.

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small-business-loan-oprah-favorite-things-holiday-marketingIn ode of Oprah’s favorite things, here are my top holiday marketing ideas for your business.  These ideas increase sales and customers by putting you in the forefront of the competition.

Donate a Percentage of Profits

It is time to give back to the community, causes and non-profits.  Choose one that means something to your business, staff, employees and give a portion of profits to it.  This is a win-win situation.  It drives public attention to your product and the cause.  It lets people know when they buy your product they are also helping raise funds for a worthy foundation.

Provide Giveaways

By placing your product as a giveaway for a local company holiday party, you are putting your product in the face of potential consumers.  It is an effective way to spread the word about your services.  If your target market includes teenagers, donate to a high school holiday event.  If your business caters to college students get involved with a well-known sorority or fraternity on campus.  Is your product for working parents?  Donate a gift giveaway to a daycare.

There are different tactics to get your product in front of your target market.  Use these holiday marketing ideas to lure potential and repeat clients.

To receive additional funding for holiday marketing plans, talk to one of our small business loan or unsecured business loan experts today!

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