On March 16, 2009 President Obama, in a long awaited address, finally reached out to the 27.2 million small businesses in this country and extended his hand. He may not have gone to the mountain, but he certainly walked down Main Street and acknowledged the perils of struggling small business owners. And it was just a matter of time that he did so. After all, the American Recovery and Reinvestment Act of 2009 (“Recovery Act”) nicely laid out beneficial provisions for small businesses and just as promised, regulations have come out by the SBA to start the ball rolling. And I’m not talking about more government promises or red tape, but bottom line capital to be infused into the coffers of deserving business owners. So let’s roll up our sleeves and see one of the more important elements that was put into place on Monday.

When the Small Business Act was enacted in 1958, it had a very simple mission. Find Read the rest of this entry »

The last few decades the number of African American women who participate actively in the business and general economical and financial life of the US is increasing, bringing a new wind of change to many aspects of the business life. One of the major changes that have been observed is women’s ability to apply and take loans more easily.

Whether looking for a capital to start a business, or enhance its performance, since many women are involved in the field of engineering, PR or marketing, or seeking to buy a house, there is an array of loans and loan givers today for African American women.

American and International organizations, profit or non profit, favor the African American Women, supporting their engagement in business of efforts to succeed personally. This is why there are many loans given to them, with relatively better conditions and rates. These organizations announce their grants online and inform all public offices so women who are interested in examining the option can always look on the Web, or ask at a local public office.

There is a wide selection of projects supporting African American Women run by the Government. The majority of fields of public sectors provide…
Finish: Finding Loans for African American Women here

One of the biggest obstacles to getting started working at home, or expanding your current small business, is finding a profitable niche to target. Well, I have done a significant portion of the hard work for you in this article.

Below are ten small business niche ideas to help you start your small business today.

1) Having a Collection – Many people collect things. Your small business could target product niches such as trading cards, coins, nick-knacks, dolls, plates, old books, glassware, comic books, stamps, or anything else you can think of that people tend to collect.

2) Attracting Men/Women – Most people want to be attractive to the opposite sex, or even the same sex in many cases. You could target product niches like flirting tips, makeovers, attractive clothing styles, perfumes, colognes, etc…

3) Saving Memories – Pretty much everyone likes to retain memories of special occasions, parties, vacations, and anything else worth looking back on. They want to maintain them and have them to show to their families and friends. Your website could target….

Finish: Home Business Niches here

digitalwomen Women Building Future Identity on the Web http://tinyurl.com/cz3jzz

6 Sources of Inspiration for Tech Bloggers http://tinyurl.com/bpluyw

Women who have succeeded in technology deserve recognition.. http://tinyurl.com/7a6557

Women-2009 New Voices Due: Feb. 12, 2009 Eight projects will receive up to $25,000 in start-up funding. http://www.j-newvoices.org/

Women! J-Lab will fund three more projects with $10,000 grants in 2009. DUE: March 31, 2009 http://www.newmediawomen.org/

It’s not easy getting a business loan for anyone, but minority business loans may be even more difficult. That’s why the federal government established the Minority Business Development Agency. The Minority Business Development Agency’s mission is to help minority business owners and operators achieve parity with other entrepreneurs in America by focusing on the key elements of success.

First on that list is access to financing and assisting minority entrepreneurs to access minority business loans. The Minority Business Development Agency does this by providing training and information that can better equip minority business owners to prepare quality loan and grant applications that will give them a better chance to securing the much need minority business loans.

Another group that plays a strong role in helping minority businesses compete in the modern marketplace and secure the necessary minority business loans is…

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Obtaining minority business loans involves a specific process. It is very important that anyone who is seeking this type of loan takes the time to make sure he or she is well prepared before actually applying for the loan.

There are several steps that should be taken when seeking minority business loans. Be able to demonstrate to lenders that you…

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Statistics on Women Business Owners

According to the Center for Women’s Business Research (CWBR), 10.1 million businesses are owned by women and this accounts for 40% of all privately held firms in the United States. These women-owned businesses firms employ a total of 7.3 million people generating 1.1 trillion dollars in sales.

The CWBR finds that women business owners are likely to adopt new technology in their businesses as much as their male counterparts. Their top concerns about technology are security of internet purchases (82%), computer viruses (81%), protecting business data (77%) and general system failure (73%).

The center also finds that women business owners emphasize relationship and fact gathering to manage their businesses and are more likely to consult with experts, employees and fellow business owners in decisions that affect their businesses than their male counterparts. For example, 67% of women business owners choose their financial products and services based on their relationship and experience with the lender.
The same center finds that 66% of women business owners are willing to take above average or substantial risks for business investments.

A 2008 report on statistical information about minority-owned businesses states that a higher percentage of women(54%) choose to have home-based businesses versus male owned business (47) but the rates decline sharply with employment size.

For Women or Minority Loans click here

Applying for a Business Grant

Sooner or later, most established businesses start a major project that requires a subsidy. This is also true of start-up businesses. The logical approach when large funding is required that exceeds working capital or capital revenues, is to seek out a business grant. Many small research and development businesses rely heavily on these grants and find that their projects wouldn’t succeed without it.

The first consideration in applying for a business grant to is to seek out the proper resource for the grant. Pharmaceutical, scientific and other types of businesses often use government sources for business grant applications. Large and small businesses often rely on private grants as well as government grants.

The second consideration is the business grant application itself. It requires in-depth information about the business that is applying, how the grant allocation will be used and terms of the grant funding. A grant, in essence, is a subsidized loan. A business requires a certain amount of funds. When applying for a grant, unlike bank loans, the terms of a grant can be very specific. Thus, it’s important to prepare an accurate representation of the need for the grant and how the grant will be used. This is crucial. The business grant application will be reviewed for validity as well as for accuracy of content. Only when the business grant application has satisfied review specifications, will a grant be approved. Be thorough, be accurate and be patient is the key to any business grant application process.

See more Business Grants for Women here

The Small Business Administration helps people start, build and grow businesses in the United States of America, Puerto Rico, and Guam. The SBA does this by guaranteeing, think co-signer, to commercial lending institutions that the loans they make to SBA qualified businesses are safe loans that will be honored.
Getting a loan through the Small Business Administration is not easy but it is also not impossible. Most businesses who apply for SBA loans do not get them because they do not understand the process. Your small business will stand a better than average chance of getting an SBA loan if you understand the process, the rules you need follow, before you apply. So let’s look at the process.
The SBA approved lender is going to want to see a lot of information from your business. This information will qualify your business for a loan. You will need the following information to apply for a Small Business Administration loan from an approved SBA lender.
1. A business profile
This document describes the type of business you own, its annual sales, the number of people your business employs, how long your company has been in business, and a profile of the business owners.
2. A loan request
This document will detail how the loan funds will be used. It should include the purpose of the loan (to buy machinery, real estate), the amount of the loan, and the type of loan you are looking for.
3. Collateral statement
This document will offer a description of the collateral offered to secure the loan and should include the equity in your business, borrowed funds, and available cash.
4. Business financial statements
You will need to show complete business financial statements for the previous three years and an interim financial statement for the current fiscal year.
5. Personal financial statements
Your business will need to show the personal financial statements for all partners, including shareholders who own more than 20% of your business even if they are not hands-on involved in the day-to-day managing of your business, for the past three years.
Once you have gathered all the above information you will need to fill in the SBA loan application, form 4 or 4I, a SBA personal history form, SBA form 912, and the SBA personal financial statement, form 413. You will also need a detailed P&L (profit and loss) for 90 days and a detailed, one year, income projection.
Take all of your information to a Small Business Administration approved lender; most large banks and credit unions are SBA approved. They will collect your information and make a decision based upon the data provided.

Guide to Small Business Loans
Starting a small business is the dream of many, but in order to do so sufficient capital must be secured to cover the many costs associated with start-up. The most frequently used option for obtaining capital used by many entrepreneurs is a small business loan. Before you apply for a small business loan; however, it is important to make sure that you understand what is required.

Requirements for a Small Business Loan

As is the case with any loan, when you apply for a small business loan, lenders want to be sure that the level of risk they take on is as small as possible. This means that applicants for small business loans will need to demonstrate that they are credit worthy. Your ability to present your business as a responsible, credit worthy entity will greatly improve your chances of being approved for a small business loan.

When applying for a small business loan you should be prepared to provide a number of documents to the lender. These documents include tax returns, personal financial statements, a business plan and monthly cash flow projections. You should also make sure that you have a detailed plan that will demonstrate how you plan to use the proceeds of the loan.

The exact approval guidelines for small business loans tend to vary from one bank to another and can be applied on a case by case basis.

Options for Financing a Small Business Loan

When looking for small business loans, you should also know that you have different options available to you. One of those options is to apply for a loan with a local bank or a bank with whom you already have an established relationship. This can be a good option if you have a good credit rating and can provide a well thought out business plan.

There are also other options which you may wish to consider as well. Private financing is one of those options. Private small business loans are typically more expensive than loans that are obtained through banks because the interest rates are higher, but they are advantageous in some situations. The most common situation in which private small business loans are used is when the entrepreneur’s personal credit rating does not allow them to qualify for a loan through traditional methods.

In addition to these loans, there are other options for financing a small business as well. One option would be to obtain a line of credit. This option is typically used for paying for the day to day operating expenses, with the maximum amount of the credit line determined by the business’ accounts receivable.

Leasing is another financing option that can be used in many situations. This is a good option for procuring equipment and other forms of fixed assets. Rather than buying the assets outright in the beginning, the items are instead leased and then purchased at the end of the lease period.

Business credit cards are also commonly used to pay for business expenses as well. These are a good option for paying for regular or recurring expenses. Business credit cards are usually only provided with the personal guarantee of the business owner.

Other options are SBA small business loans. There is a variety of SBA loans which are either partially or fully guaranteed by the Small Business Administration. Business owners apply for the loans through a lender, but must be approved by the SBA prior to the loan being approved.

Time frame for Securing a Small Business Loan

The amount of time that it takes to secure a small business loan depends upon the method used by the business owner. Applying for a non-SBA loan through a lender can be a somewhat faster process, but it can still take a few weeks, depending on how long it takes the lender to review the necessary documentation. Loans that are guaranteed by the SBA will take longer because the loans must be approved by the SBA in addition to the lender.