Business Resources Library

Viewing Category: Featured
Personal Guarantee

If you’ve applied for a small business loan or are considering doing so, there’s a requirement that most lenders have and it often comes as a surprise to borrowers: it’s the personal guarantee. In this article, we look at what lenders mean by personal guarantee, why it’s required and what they include. What is a personal guarantee? Simply put, a personal guarantee is a business owner’s promise to repay a business loan personally, in case the business is ever [...]

Read More

Short-term business loans

When small business owners find themselves short on cash, many take on short-term debt in hopes that quick funding will help them overcome the cash crunches they’re facing. But are short-term loans the best solution? In this article, we explain what a short-term loan is and offer advice to help you determine the best solution for your business’s needs. What is a short-term business loan? Short-term loans are essentially funds that are paid back within 12 months, although some [...]

Read More

Jean Kristensen

“Even today, studies show that only about three to four percent of women-owned businesses achieve one-million dollars or more in annual revenue,” says Jean Kristensen, owner, president and CEO of Jean Kristensen Associates, LLC. “And for businesses owned by women of color, the rate is even lower.” Businesses owned by men, on the other hand, are three times as likely to achieve that. “Women face a lot of the same business challenges as men, like accessing capital [...]

Read More

Small Business Expansion Issues

Expansion often means something different for every small business. Whether you’re looking to open a new location or add new products or services, it’s important to properly prepare to ensure your business grows successfully. In this article, we outline five common expansion issues and what you can do to avoid them. These steps will help you optimize your business for expansion and will dramatically increase your chances of success. Common Small Business Expansion Issues 1. [...]

Read More

How to improve your personal credit

While business loans are technically made to businesses, most lenders will review your personal credit history when you apply for a business loan. A personal credit score provides a more accurate picture of your ability to pay back your debts, especially if your business has not yet established a business credit score. Given this, if your personal credit history has some weak points, you’ll want to take time to improve it before applying for a business loan. What lenders look for in a [...]

Read More

<