Business Resources Library

Viewing Category: Business Loans and Financing
5 Best Practices to Increase Your Profitability in the New Year

The New Year is a time for reflection and planning. For small business owners, that means reviewing your year-end financial statements to see how you did and planning for the future. If you’re interested in improving your business’s financial image, here are five ways to boost profits. 1. Small Markup vs. Big Markup: It’s important to focus your efforts and know what works best for your company. If your business has a small gross margin (think: small mark-up) cutting costs by [...]

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How to Increase Revenue

Stimulating growth in your small business can be done in a number of ways, but most business owners focus on increasing revenue. There are two key ways for small businesses to increase revenues. The first and most commonly applied way is to increase sales revenue by adjusting prices, increasing sales volume or a combination of both. The second way, and one that’s often overlooked, is by increasing operational efficiencies. Every business can benefit from increasing their operational [...]

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Refinance Small Business Debt

Eventually, there comes a time when small business owners set their sights on growth and expansion. Doing so often requires more capital, and many small business owners consider replacing their existing business debt with a new, more affordable loan. This process is called refinancing and can be a critical step to grow your business. When done correctly, refinancing your business debt can lower your monthly payments, APR, and interest payments, improve your overall credit score, and most [...]

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When and How to Prepare for a Small Business Loan

All businesses need capital to grow, and the questions of when and how to apply for loans are two that many small business owners ask.  In this article by the Excelsior Growth Fund (EGF) Business Advisory Services team, we look at how to determine when an existing small business needs funding and steps to help you prepare an application and increase your likelihood of approval.     1. Evaluate your business’s funding needs As your business grows, you may find yourself [...]

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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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