Your Money
Where's the Bank Credit?
By Eric Hagerman Thursday May 20, 2010The point of all that TARP money funneled to banks beginning in late 2008 was to end the credit crunch. And in recent months at least three of the country's biggest lenders have announced ambitious plans to ramp up lending to small businesses this year.
Beyond Banks: New Rules of Small Business Finance
Small businesses everywhere say it’s impossible to get a loan. Banks have stimulus money to lend, but are afraid of making bad loans. And in the hunt for working capital, people are turning to fallow credit lines only to have their banks shut them down. What’s a business to do? Plenty. Here are a few alternative-finance tactics to get your hands on the cash you need now.
Loan Denied? Here's Your Plan B
By Eric Hagerman Thursday May 20, 2010When the bank says no, that’s only the beginning of a small business owner’s quest for credit. There are other ways to find your financial footing, both public and private, and some may be right in your backyard.
7 Secrets to Landing an SBA Loan
By Eric Hagerman Thursday May 20, 2010At a time when banks everywhere are denying loans and severing credit lines, SBA loans are actually up. But what are they, and how do you get one?
The Smartest Financing Opportunity You've Never Heard of
By Eric Hagerman Thursday May 20, 2010When Joseph Reini walked into his bank in late 2008 looking to finance the steady growth of his engineering firm, Mason-Grey, he ran into a brick wall. Reini needed his bank to extend his credit line so he could hire more people to take on more business. But in a classic chicken-and-egg scenario, his bank wanted to see the increased revenue on the books before they would extend the line.
Your Credit Cheat Sheet
By Eric Hagerman Thursday May 20, 2010ABL: Asset-Based Loan or Asset-Backed Loan
Should Interest Rates on Medical Debt Be Capped?
By Bruce Phillips Friday May 7, 2010Here's an interesting proposal: as part of the financial reform debate raging in Congress, one Democrat senator proposed a permanent cap on interest rates charged by national issuers of credit cards (currently only state-chartered lenders are subject to caps).
Salary Push by Doctors Speaks to Cost Challenges
By Bruce Phillips Wednesday Apr 28, 2010Last week a consortium of private and government doctors, medical schools and government officials declared that the only way to meet the needs of the 32 million uninsured individuals who will soon have medical coverage thanks to the health care overhaul is to vastly increase the number of primary care physicians.
Why Airline Mergers Are Bad for Small Business
By Bruce Phillips Thursday Apr 15, 2010Do we really want only four major airlines in this country? I don't think so.
When Alternative Financing Won't Work
By Gary Honig Thursday Apr 8, 2010A not-too-uncommon situation business owners have getting an upcoming contract underway is the capital to get organized. A problem arises when assuming that a purchase order or contract award for a product or service will allow the business to get cash from a commercial finance company in order to perform on the contract. While there are purchase order finance companies and contract finance opportunities, the business owner needs to understand the limitations of each.