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Due to economic challenges or government stay-at-home orders, some of your small business customers may not be able to operate at all. Make it easy for them to contact you to discuss their situation. Furthermore, before you declare a default, talk to your customer to alert them of this possibility and give them every opportunity to start paying again. As you investigate your options, look into whether places like the SBA have programs for which your company may qualify. The size adjustments mean 59,000 more businesses are now classified as small businesses and eligible for SBA financing. The SBA still … Read more

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One also shouldn’t forget that even if you aren’t in a rush, securing some kind of loan might be the only way for your company to get any equipment at all. The majority of small businesses in the industries that require heavy machinery and various sophisticated equipment have a rather limited cash flow. Therefore, saving up for the extremely expensive machines isn’t an option by default. The application process for equipment loans is fairly straightforward and applications can often be approved quickly. It’s possible to finance up to 100 percent of the cost of equipment, but it’s common for lenders … Read more

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We have over 20 lending partners in our network whom we have done business with for many years and trust to take care of our small business clients. Our number one priority is our relationship with our clients, and we want to do everything we can to help you find the best financing solutions. If you carry significant debt, buyers may not want to take on your loans. You’ll have less money in your pocket if paying them off becomes a condition of the sale. Be conservative when estimating how much more productive your business will be with new machinery.… Read more

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Setting aside some time for daily monitoring of your books means you’re well-informed of all income and expenditures. It also means you can catch any financial problems early on and do something about it before it becomes a serious issue. Here are some smart tips to manage small business finances so you can rest assured your company will grow and remain stable even during challenging times. By managing your small business finances in a smart and proactive way, you’re giving your company a strong financial footing to grow in the future. Financial management allows you to see the bigger picture … Read more

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Although the sound of debt is never appealing, this option is very popular among small business owners, especially owns who want to call all the shots. “Whether our customers are large fleet operators or small business owners, they are at the core of everything that we do,” said Santosh Aiyer, Managing Director, Volvo Financial Services India. While these loans are no longer available for COVID-19 reasons, disaster-hit businesses can still apply for government aid under certain conditions. Are firms that invest in businesses in exchange for equity as well. These firms tend to invest in businesses that have high growth … Read more

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Firms are viewed through a financial growth cycle paradigm in which different capital structures are optimal at different points in the cycle. We show the sources of small business finance, and how capital structure varies with firm size and age. The interconnectedness of small firm finance is discussed along with the impact of the macroeconomic environment. We also analyze a number of research and policy issues, review the literature, and suggest topics for future research. ​The Broward County Office of Economic and Small Business Development supports Broward County businesses and their success by providing a comprehensive roster of client-focused services.… Read more