Business Resources Library

Your SBA Loan Road Map

When your small business needs financing, there are numerous options to choose from. If you’re just starting out, you may need to rely on friends and family to support your capital needs, and if your business is more established you may qualify for alternative lenders or even a conventional bank loan. Each option has its benefits and could be a good fit for your business. One of the best financing options regardless of the stage of your business is the U.S. Small Business Administration [...]

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NYC Contract Financing Program

It’s essential to know what your financing options are when you’re a small business owner. The City of New York Contract Financing Loan Fund Program, available through Excelsior Growth Fund (EGF), provides working capital loans at 3% interest to prime or sub-contractors working or bidding on a project with a NYC agency or the NYC Economic Development Corporation (NYCEDC.) This 45-minute webinar will give you a full overview of the loan program and how it can benefit you and your [...]

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What small business owners need to know about loan fees

With so many lenders and loan options available to small business owners today, how can you choose the best loan for your business? While many potential borrowers focus on interest rates, there’s an equally important consideration: loan fees. These vary from lender to lender and can have a significant impact on the amount of money you’ll owe upfront, throughout the loan, and at payoff time. To help you better understand the lending landscape, Excelsior Growth Fund (EGF) put together [...]

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When should small businesses hire employees?

While a few small businesses may never intend to grow beyond the amount of work that the owner can take on, eventually, most small businesses need employees. Since bringing on employees is both costly and time-consuming, Excelsior Growth Fund asked for advice and insight from Holly Nowak, President and Lead HR Developer of HMN Resources, LLC. Here are some key signs that it’s time to hire and advice on how to do it well. Determine what you want for your business Before hiring [...]

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