Business Resources Library

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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Business financial management software

Having organized, digital financial documents is important for many reasons. By using software for invoices and bill payments, you’ll make your life as a small business owner much easier, as well as for your bookkeepers and accountants. These software programs can help you track business income and expenses, and also help you get invoices out in a timely way, follow-up on accounts receivable and pay pending bills on time. They can also help you easily pull up-to-date financial reports that [...]

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QuickBooks Webinar Series

QuickBooks is a great tool to ensure your business’s finances are managed properly to lead your company to financial stability. Our two-part webinar series reviews everything you need to know about QuickBooks. From getting started to generating and reviewing reports, we’ll help you better understand how to use this resource to positively impact your business’s financial health.  In this webinar you will learn: How to navigate QuickBooks and view reports How to [...]

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Common Financial Challenges

While many entrepreneurs thrive on driving business dreams toward success, financial challenges can drain the energy from even the most committed business owners. The good news is that with some planning, attention and advice, the most common financial challenges won’t be barriers to growth. In this article by Excelsior Growth Fund’s Business Advisory Services team, we look at five common growth-stage financial challenges and how to prepare for and overcome them. 1. Challenge: [...]

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