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FINANCING

Should You Consider Revenue-Based Financing For Your Business?

By The BIDaWIZ Team on October 4th, 2012 at 5:30 pm

The small business lending environment continues to be tight with banks holding potential borrowers to strict criteria. As a result, businesses have begun to explore new ways to gain financing. One such method is called revenue-based financing (RBF). Is this an option for your business? .
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FINANCING

A Tax Free Way To Use An IRA or 401K to Start Your Own Business

By The BIDaWIZ Team on August 9th, 2012 at 9:00 pm

The traditional lending market continues to provide little, if any, leniency when it comes to newbie entrepreneurs. In the past, we’ve discussed this issue and have recommended several alternative financing options to help fund new businesses. However, we’ve yet to discuss how funds in an IRA or 401K can be used as an effective way of getting started. Recently, we sat down with Jeremy Ames, the CEO and Co-founder of Guidant Financial, to discuss this attractive option. Read More.

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FINANCING

What Banks Review First When Evaluating A Business Loan Application

By The BIDaWIZ Team on May 18th, 2012 at 2:00 pm

Banks are still fairly risk averse when evaluating a small business loan application. Most loan officers will try to answer a few very basic questions before getting into all of the details. Can the borrower pay us back? Will they pay us back? Do they have sufficient collateral that we can obtain if they don't pay us back? The amount of cash the potential borrower has on their balance sheet will not sufficiently answer these questions. Find out what bankers review first on a loan application. .
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FINANCING

Should I Seek A Business Term Loan Or A Line Of Credit?

By The BIDaWIZ Team on April 5th, 2012 at 10:30 pm

Most businesses just starting out or looking to expand or fill a production order, will need outside financing. Should they seek a term loan or a line of credit? .
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FINANCING

What Can I Do To Get a Small Business Loan at a Favorable Rate?

By The BIDaWIZ Team on March 19th, 2012 at 11:30 pm

It's still difficult to land a small business loan, let alone at a favorable rate. With that said, there is one step that small businesses can take that will certainly increase their chances of obtaining a loan at a favorable rate. .
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FINANCING

Should I Use A Crowdfunding Site To Raise Capital For My Venture?

By Susan Ladika on March 7th, 2012 at 1:00 pm

With banks continuing to be reluctant to lend cash, some with a small business or creative project they want to get off the ground are turning to crowdfunding websites to finance their ventures. Before you sign on with a particular site, it's important to understand the ins and outs, and if the site you have in mind has restrictions on the kind of projects presented there. .
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FINANCING

Should You Consider Alternative Financing For Your Business?

By The BIDaWIZ Team on February 3rd, 2012 at 2:00 pm

When many businesses think about financing, getting a loan from the bank is usually the first thought. While that can be an effective way to grow your business, it's not always an option for every business. Alternative financing is often overlooked because of the lack of transparency but it should be considered as it can be a difference maker. .
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FINANCING

How Should a Small Business Negotiate a Loan for 2012?

By Susan Ladika on December 14th, 2011 at 12:30 pm

This is a common scenario these days, "The loan for my small business is coming due next year. I've heard it's hard to get a new loan, so what do I need to do to get one at the best terms?" It's good that you're thinking about your loan now, rather than when it comes due. A conversation with your banker today can help eliminate surprises and help smooth things along down the line. .
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FINANCING

Seeking a Financial Partner To Launch A Business

By The BIDaWIZ Team on January 17th, 2011 at 10:06 pm
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The first step is to explore the viability of partnering with an angel investor or an investment group such as a venture capital firm. They offer industry expertise & a strong network of contacts which will allow you to grow internally as well as having the opportunity to form strategic partnerships with larger companies. Keep in mind that it can be very difficult to obtain financing from these investors but if you succeed, it can be very helpful. Read More.

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FINANCING

How Do I Get A Small Business Grant?

By The BIDaWIZ Team on December 16th, 2010 at 4:30 pm

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Congratulations on launching a new venture. Now to the tough part -- funding the launch and operations of the business. Small business grants can be helpful to a business but getting one is no cakewalk. .
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