Access to Capital

Understanding Collateral

Bank loans are usually the least expensive way to finance a small business. However, it is not easy to get a bank loan, as banks have strict standards for lending. As a general rule of thumb, banks will require a borrower to put up collateral for a loan. The only exception to this rule is for clients who have a long-term relationship with banks and whose business has proven to be profitable over a multi-year period.

How to Create a Small Business Marketing Plan

You’ve created a business plan for your small business, in which you laid out your vision, strengths, resources and goals for the future. Now it’s time to think about a marketing plan. The two documents will work together in helping you realize your small business’s potential. In fact, your marketing plan will build on the goals you’ve already laid out in your business plan.

Minority Business Development Agency Releases Report on Contracting Barriers Impacting Minority Firms

WASHINGTON, Jan. 18, 2017 /PRNewswire-USNewswire/ -- The U.S. Department of Commerce, Minority Business Development Agency today released a new report, Contracting Barriers and Factors Affecting Minority Business Enterprises: A Review of Existing Disparity Studies. The report, which spotlights disparities in state and local government contracting between minority-owned and nonminority-owned business enterprises, provides an in-depth review and analysis of disparity studies, summaries, and reports.

This Entrepreneur Has Been Thinking About Business and Community Since He Was a Kid

Minority entrepreneurs represent some of the fastest-growing segments of business in the United States today, and make up about 17.5 percent of all employers in the country. Yet they often face a dilemma when it comes to marketing their product: How do they appeal to the widest possible audience while also banking on their background and directing services to the communities they came from?

The Paperwork You Must Complete for a Friends or Family Business Loan

When borrowing from family and friends is the only way to start or fund a business, the following steps can greatly reduce that risk. First, you must inform the person you’re borrowing from how much money you need, what you’ll use it for and how you’ll pay it back. Next, draw up the legal papers -- an agreement stating that the person will indeed put money into the business.

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