Funding Circle is different than many of its competitors that offer small business loans. Many of its competitors have completely automated the process of loan approvals. They have a formula which, based on a number of numerical inputs, determines whether a small business can get approved for a loan, at what interest rate, how long,…
Who Will Lend to You to Start or Buy a Franchise? An Interview with BoeFly CEO Michael Rozman
BoeFly is an online platform for finding banks and financial institutions to lend money to businesses. While the platform can be used to find many types of financing, it has developed a reputation for being a great place to get a loan to start, buy or grow a franchise. I had a chance to interview…
Who’s in-charge of overseeing the SBA? An Interview With Chairman Chabot
The House Small Business Committee oversees the Small Business Administration. Recently, the Committee acquired a new Chairman, Congressman Steve Chabot of Ohio. While new to the chairmanship, Congressman Chabot has been serving on the Committee for 19 years. I had the chance to interview the Chairman on a late Friday afternoon. As I am not…
Why and when do small businesses borrow? An Interview With The CEO of Kabbage
I love talking to CEOs that are also company founders. They are excited about their businesses, and love talking about it. They don’t duck tough questions or give meaningless answers. The co-founder of Kabbage, Rob Frohwein, fits this description perfectly. I was told that Rob could only spare 10 minutes. We ended up talking for…
An Interview with Dealstruck’s CEO Ethan Senturia
Do you and your business meet the following 4 basic criteria? Your business has been around more than 1 year. Your business has more than $20,000 in monthly revenues. Your business is profitable. You have a personal credit score above 600, and no major recent blemishes on your credit history. If you meet those criteria,…
How To Find & Lease Office Space
If you are a small business owner who is looking to lease office space for your business, then this article is for you. In order to get the most helpful information possible, we talked with Adam Von Romer, CCIM (Adam’s Website), Senior Investment Sales Associate at the Fitzgerald Group. Adam has 30 plus years of…
How To Make A Promissory Note To Fund Your Small Businesses
Borrowing money from friends and family is a frequent method of financing when starting a business, and during the early stages of growth. A promissory note is a very common legal document that a business owner signs to legally formalize the borrowing arrangement. In this article we go in depth on how to make a…
Raising Money From Friends & Family: Loans Or Equity?
The first financial supporters of new businesses are often family and friends of the founders. According to research, 36% of funding for startups comes from family and friends. Furthermore, family and friends invest on average $23,000 in a startup. This article will explore the complexities of accepting this money in the form of equity or…
Lendio: Equipment Financing Is An Option For Small Businesses
I recently interviewed Brfock Blake, the CEO of Lendio. Lendio connects small business owners with financing. A small business owner can fill out a short online form to have multiple interested lenders contact them. There is no fee to the small business owner for this service. Lendio has a wide range of lending products, ranging…
BlueVine: Bringing Invoice Factoring Into A New Age
BlueVine is trying to make invoice financing more streamlined and with less friction than existing services. During invoice factoring, a company typically sells invoices (future payments from clients based on specific work or services that the firm has performed or ordered) in exchange for immediate cash provided by the factor company. The factor company pays…
Cash Flow & Common Sense: A Conversation With Marsha Bailey
I instantly liked Marsha Bailey, the founder and CEO of Women’s Economic Ventures & Small Business Loan Fund of Santa Barbara. The conversation began with a question which I have been wanting to ask for a while, “How is a Women’s Business Center different than similar services which don’t have “women” in the title?” Marsha…
Fundbox: An Alternative To Invoice Factoring or Discounting
When you visit the homepage of Fundbox, and accounts receivable financing company, you don’t see the words invoice factoring or short-term business loans. Instead, the headline reads: Overcome Cash-Flow Gaps. Get Paid Instantly. One of the first things that Eyal Shinar, the CEO of Fundbox, said to me during a recent interview was “businesses don’t…
