The bank needs to know how your business is doing right now (usually the most recent 30 or 60 days), rather than rely on your current year’s tax return that may have aged several months.
Private firms that need to raise relatively modest amounts of capital have a hard time finding money. Now three Indianapolis entrepreneurs think they have the answer: crowdfunding. Individuals make small investments that are aggregated to fund a business. Indianapolis-based Localstake wants to be the matchmaker.
Unexpected problems add to the headaches of opening or relocating a business, and we hear a lot about the hang-ups of required, but annoying, environmental investigations.
Small amounts of funding often ignored by larger banks.
Volume nevertheless is expected to fall short of last year’s record numbers
A recent study from Credit Suisse found that over $15 billion of small commercial mortgages (under $5 million) are coming due in the next few years.
Prepare to talk in detail about your business, the plans you are making and the reasons for expanding before you show the banker the facts and figures.
During these difficult times, small-business lenders are looking harder at intangibles—including a borrower’s character.
Low-income women could receive loans in weeks.
The Indiana Statewide Certified Development Corp. has been recognized as the most robust lender through the SBA’s 504 loan program.
Property tax billing and collection were at their most confusing during the recession, when businesses were experiencing lost revenue, poor projections and, in general, toughing it out as best they could.
New law allows banks to refinance existing real estate and equipment debt through the U.S. Small Business Administration 504 loan program.
Small-business owners looking for working capital would be well-served to do their research in advance and can ask their bankers about several approaches, including financing based on assets.
The amount of money banks loaned through U.S. Small Business Administration programs shot up close to 30 percent in Indiana this year, a sign that the state’s small businesses—including Pat Wolfred’s CCA Inc.—have started coming back to life.
Scoring a prized political victory five weeks before the Nov. 2 elections, President Barack Obama on Monday signed a bill to help small businesses expand and hire by cutting their taxes and creating a $30 billion loan fund.
This may be a golden opportunity for small-business owners to lock in a low rate to finance expansion. But make sure you understand
the loan agreement.
Federal loan programs that help fund company expansions are seeing more activity from program administrators in Indianapolis.
No incentive can make a bad deal bankable. But President Obama’s stimulus measures are spurring some promising small businesses
to begin borrowing again, despite the recession.
SBA loan approvals above $100,000 for the Indianapolis area for November 2009
SBA loan approvals for the Indianapolis area for October 2009.
