Business Resources Library

Viewing Category: Business Loans and Financing
What are SBA Microloans

Among all of the small business loans that are available, one of the most popular for expanding businesses is the U.S. Small Business Administration (SBA) Microloan. With loans typically ranging from $599 to $50,000, the SBA Microloan is the ideal loan for businesses that need modest funding to grow. In this brief article, Excelsior Growth Fund (EGF) explains what SBA Microloans are, why they work so well for many small businesses and how to get one. What are SBA Microloans? The Microloan [...]

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Balancing Motherhood and Entrepreneurship

As the founder and majority owner of North East Atlantic Construction (NEAC), Nury Gomez knows a lot about the importance of building solid foundations. As she’s grown a successful business, she’s also learned that for women to balance the challenges of both motherhood and entrepreneurship, it’s essential to build solid foundations in their personal lives. Taking the leap Although she was formally educated as a journalist, Nury had long been interested in [...]

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The Small Business Banker’s Guide to Alternative Financing

When your clients need financing to grow their businesses, they turn to you to help them find the product that will best fit their needs. For those that don’t qualify for a bank loan, alternative financing may be a good solution. To help you better navigate the alternative lending landscape and find the best financing options for your clients, we’re sharing our recently updated guide to alternative financing. This guide highlights several alternative financing options available [...]

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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 [...]

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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 [...]

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