One of the most common requests I get is to help people access “free money” to help them start their business. Regretfully, my response is there is little, if any, free money available. Instead business owners need to depend on their own personal funds, family and friends, or good bootstrapping. At some point though, most…
Starting a business means a need for money to help pay for a variety of things from registration fees to getting the store ready for customers to buying initial inventory. Potential business owners often struggle to find those first dollars. Asking for help to find grants, or ‘free money,’ is a common request. While there…
For a business to exist for the long term, it must make money. Yet other values also can influence whether a business stays in business. It is surprising by the number of business owners who never have taken the time to determine if they are profitable at a basic level. There is money in the…
Small businesses used to have a hard time getting approved to accept credit cards. Getting set up for a merchant account involved passing a credit check, agreeing to a long-term contract, paying monthly fees even if you didn’t accept any payments, and acquiring specialized equipment often with another monthly payment. Square and its competitors…
A local credit union partnered with community organizations to facilitate loans for small businesses with needs not met through traditional lending. Leslie Ackerman of Alternatives Federal Credit Union is using this model and presented on it at the BALLE Business Conference. The community organization brings the mission and raises the money.The local investors and community…
Many small businesses can’t qualify for a small business loan from a traditional local bank. A bad credit record disqualifies many. Lending standards have tightened. Some small towns are limited by local banks that don’t support small business; others don’t have locally-owned banks any more. The good news is that alternatives are available. We are…
Many small businesses can’t qualify for a small business loan from a traditional local bank. A bad credit record disqualifies many. Lending standards have tightened. Some small towns are limited by local banks that don’t support small business; others don’t have locally-owned banks any more. The good news is that alternatives are available. We are…
Small town businesses are starved for capital, but small town people continue to bank and invest their money with corporate behemoths based on Wall Street. What if we could change investing from a gamble in the stock market into a local development tool? Local investing is the answer. Local Dollars, Local Sense and Locavestingcomplement each…
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