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The Capital Conundrum: Funding Your Small Business Dreams

For enthusiastic entrepreneurs across America, the allure of running your own small business remains magnetic. However, securing sufficient capital is one of the toughest early obstacles. In fact, inadequate capitalization leads directly to high rates of company failures. Clearly, capital matters – but not all funding sources are created equal. Startling Statistics The numbers reveal … Continued

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What Is Loan Amortization?

As a small business owner, you know securing financing can be critical to starting or growing your company. One term you’ll come across when applying for a loan is amortization. But what exactly does it mean and why does it matter? Let’s find out. The Basics of Loan Amortization Amortization refers to the process of … Continued

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How to Build Business Credit in Michigan

As a Michigan small business owner, establishing strong business credit should be a top priority. Good business credit opens up funding opportunities, provides flexibility, and enables you to grow on your terms. According to statistics from the SBA, only 0.01% of US businesses are classified as not being small in size. Here are tips to … Continued

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Top Tips to Receive Startup Funding

Obtaining startup funding can seem incredibly daunting as a new entrepreneur. After all, only 9% of small businesses received no capital after applying for a loan according to Fundera. However, securing those critical startup loans or investments is very achievable if you lay the proper groundwork first. Use these key tips to get on the … Continued

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How Do I Get an SBA 504 Loan?

As you seek funding for your small business, you may want to look into SBA loans. The 504 SBA rates may be more favorable than other means of funding. Here’s how you can get an SBA 504 loan. Stay Out of Trouble On paper, your business is the perfect candidate for an SBA loan. You’re … Continued

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Get to Know the Requirements of SBA Loan Eligibility

Are you interested in business loans? If you’re operating a small business that has shown some growth, business loans in MI may help take it to the next step. Over 32% of small business loan applicants used online lenders to source their funding last year, according to Fundera. Here are some of the requirements for … Continued

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504 SBA Loans Explained

The Small Business Association is known for providing various types of funding to help small businesses. Funding options vary, including specific research, growth, and other funding. According to Fundera, about 48% of small businesses have their financing needs met, making access to additional funding essential for these companies. Today, 504 SBA loans are quickly gaining … Continued

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What Benefits Can a CDC Lender Provide My Business?

If you’re a small business owner exploring financing options, you may be wondering what benefits a CDC lender can provide your company. CDC lenders, or Certified Development Companies, are nonprofit corporations that provide financing assistance to small businesses. Here are some of the key advantages CDC lenders offer. Getting Low-Interest, Long-Term Loans One of the … Continued

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What Business Owners Should Know About The SBA Loan Approval Process in 2024

Getting a small business off the ground can feel like a daunting task. Loans from the SBA can be an essential part of the process. According to Zippia, the average SBA loan is in the amount of $417,316, while the maximum is estimated to be around $5 million. With these essential funds, potential small business … Continued

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What Is a Certified Development Company?

There are many obstacles for potential business owners when they are trying to get their business started. Finding financing is probably high on the list of stressors. When investigating finance options, you’ll see many different types of loans and lenders. Understanding how these different options work will be crucial to your long-term success. Certified development … Continued

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