'Biz Corner' NBA's Electronic Newsletter - September 15, 2011

In Partnership with the Self-Employed

Borrowing Money
Credit: U.S. Small Business Administration

Borrowing money is one of the most common sources of funding for a small business, but obtaining a loan isn't always easy. Before you approach a lender for a loan, it is a good idea to understand as much as you can about the factors the bank will evaluate when they consider your application. This page outlines some of the key factors a lender uses to analyze a potential borrower.

 

Types of Financing - There are two types of financing: equity financing and debt financing. When looking for money, you must consider your company's debt-to-equity ratio. This ratio is the relation between dollars you've borrowed and dollars you've invested in your business. The more money owners have invested in their business, the easier it is to attract financing...

To learn more, visit the SBA website by clicking here.

 

Facebook is a hot button topic for marketers. Some say it ushered in a new era of advertising, rendering traditional media obsolete. Others insist it has no place in the business world, especially for small business!

 

Well, it turns out they're both partially right: Facebook has ushered in a new era of advertising, BUT it is an add-on to traditional media in most cases. I can't imagine a dentist filling their schedule using Facebook alone!

 

What is its use in business and how can you make it work for you? Well, one of the reasons folks don't buy from you is lack of trust. Facebook - and all social media - is a great way to allow prospects to get to know you and thus, trust you.  Click here to read more...

 

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Your Featured Member Benefit - First Step Review

 
First Step Review In recognition of the importance of small business to a strong economy, the First Step Review was developed to help meet the informational needs of existing business owners and aspiring entrepreneurs.

 

First Step is a screening tool to help smaller businesses (with less than 100 employees and annual sales of less than $5 million) determine the likelihood of success in gaining a guaranteed loan. If you gain a score of 70 or more on First Step, then the next step would be to find a lender who is SBA certified loans.Click here to learn more!

National Business Association
In This Issue
Borrowing Money
What Facebook Can Do for Your Business (And What It CAN'T!)


Washington Watch

 

Washington Watch

 

U.S. Small Business Administration (SBA)

 

Created by Congress in 1953 to help America's entrepreneurs form successful small enterprises. Today, the SBA program in each state offers financing, training, and advocacy for small firms.

 

As a 21st Century Leading Edge Financial Institution, the SBA will provide great service and utilize productive partnerships in providing innovative, cost-effective, and electronically accessible credit to those that need it the most.

 

As a spokesperson and strong advocate for those small businesses that need it the most, the SBA will increase its outreach, marketing, business development and use of electronic tools to create procurement opportunities for small businesses - especially small disadvantaged and women-owned businesses.

 

National Small Business Week honors America's top entrepreneurs and names the National Small Business Person of the Year during ceremonies in Washington, D.C.  

 

To learn more,click here...

  

 


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