Home | TrendTracker | PowerBlog Reviews | The Experts | Newsletter
SMALL BUSINESS TRENDS brings you daily updates on trends that influence the global small business market.
Anita Campbell, Editor
Past life: CEO, corporate executive, tech entrepreneur, retailer, general counsel, marketer, HR ... (more)
email me
free business magazines
Trade publications FREE to qualified professionals. No hidden offers and no purchase necessary.
On Wall Street
The Deal
Computing Canada
Employee Benefit
Oracle Magazine
100+ additional titles. Click to browse.
Previous Small Business Trends articles can be found at the links below:
October 2003
November 2003
December 2003
January 2004
February 2004
March 2004
April 2004
May 2004
June 2004
July 2004
August 2004
September 2004
October 2004
November 2004
December 2004
January 2005
February 2005
March 2005
April 2005
May 2005
June 2005
July 2005
August 2005
September 2005
October 2005
November 2005
Or, use the search box below to find a
specific post:

Sign up for our FREE Small Business Trends newsletter. (View Current)

We publish regularly and promise we won't share your email address with anyone. (Privacy Policy)
* Don’t have time to read several dozen blogs a day? Pick two or three. Your brain will thank you for it.

Small Business Trends Radio
Tuesdays, 1:00 PM Eastern U.S. time
on Voice America network
Click to listen

November 1st: Torsten Jacobi, CEO of Creative Weblogging, joins host Anita Campbell. Sponsored by Six Disciplines. Show details.
Wednesday, June 08, 2005
Bank Loans for Startup Funding
When I sent out the last Small Business Trends newsletter, I answered a reader question as I always do in the Letters to the Editor feature. The question was: "How Do I Find Capital to Start a Business?"

My answer was: (1) family and friends, (2) angel investors, or (3) work two jobs and save your money.

Shortly afterwards, I received this email containing additional resources for startup capital here in the United States. I reproduce the entire email here:

    Dear Anita,

    There are more resources available to start-ups. Here are some of the ones we help our clients access.

  • Count-me-in, an online microlender for women.

  • SBA Community Express loans, available through Innovative Bank and local business organizations (such as ours).

  • Community lenders. Check the SBA site, click on your state, then click on financing.

  • State governments often have financing programs - check with the economic development units at the city, county and state levels to find out what incentives may be available for your type of business.

  • Network in small business and economic development circles.

  • Also, note that getting a bank loan is a process that you can get help with. Locate a convenient Small Business Development Center or Women's Business Center and meet with their counselors. These organizations have relationships with local banks and can help you find the right lender. They also provide the kind of business planning counseling and courses -- often delivered by lenders -- that leads, eventually, to successful loans. (We have a number of success stories.) They also teach the process of developing a relationship with the right bank so that, over time, you position yourself for a successful loan application.

  • Interestingly, a high proportion of potential business loan applicants have credit problems. Anyone who anticipates needing business financing should first learn their credit score and raise their credit rating.

    I hope you will be able to share this information with your readers. Thanks so much!

    Kind regards,

    Susan M. Kuhn
    Vice President, Entrepreneurial Programs
    National Women's Business Center
Thank you, Susan, for taking the time to add your information for our readers.
More news... more trends... more insight...

Home | Privacy | Terms | SmallBizTrends
(c) Copyright 2003 - 2005, Small Business Trends LLC. All rights reserved.