Business Resources Library

Viewing Category: Business Loans and Financing
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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How to Finance Your Manufacturing Business

Small manufacturing businesses are a diverse and evolving driver of the U.S. economy. In fact, according to the National Association of Manufacturers, for every $1.00 spent in manufacturing, another $1.89 is added to the economy, proving that this sector continues to thrive. While the opportunities are tremendous, most entrepreneurs face a primary challenge in funding their manufacturing companies, as they tend to be more expensive to get off the ground than many other types of small [...]

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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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