- The Scoop on Access to Capital and Your Credit Score
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written on August 09, 2010
by Marsha Powers
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Access to Capital
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Is your credit score impacting you getting more money for your business? And you don’t even know it? Here are some tips on how to access more capital with some basic financial house cleaning techniques to improve your credit score.
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- New SBA Stimulus Update
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written on June 17, 2009
by Marsha Powers
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Access to Capital
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The new stimulus law allows the U.S. Treasury Department to lend money to brokers to buy up pools of Small Business Administration (SBA) 7(a) loans on the secondary market thus making money available to banks to make more loans. Further, the U.S. Treasury Department will spend up to $15 billion to buy those pooled loans itself. It will also use the money to buy up the bank portion of debt on SBA Certified Development Company (CDC) 504 loans. The changes are effective immediately and will continue through out 2009 or the depletion of the available funds, whichever is first.
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- Snapshot of 3rd Quarter Funding Opportunites in NEO
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written on June 17, 2009
by Marsha Powers
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Access to Capital
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Even financially healthy companies will continue to feel the credit pinch throughout the remaining 2009. It will take several quarters to see how President Obama's new Economic Stimulus Package will ultimately play out in getting liqiuidity flowing again on a national level. My forecast as to when this will happen is during the second quarter of 2010. In the meantime, here are existing funding sources to consider:
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- Does International Competition Hurt or Help US Manufacturing Small Biz
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written on March 31, 2008
by Marsha Powers
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Access to Capital
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Many have being asking this question. While most all accept the notion that we are in a global market place, and to play, we must think and act globally, trying to understand what the impact of international competition for small biz has been somewhat challenging to understand as it relates to his or her business development.
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- Surviving Recessionary Blues In A Shakey Economy
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written on March 18, 2008
by Marsha Powers
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Access to Capital
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With last weekend's news on the Bear Stearn's meltdown, many small businesses are rightly concerned about how to best protect their business and personal assets. Added to this, elections, other market corrections, the US dollar getting beat up by the Euro and you may be reaching for an headache pill. Even if your company is doing well, you are probably now having the "What if?" blues for the next six to nine months. Here are ten simple, but essential, guidelines to use to protect your business and personal assets in an uncertain economy:
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- Ins and Outs of Venture Capital
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written on November 05, 2007
by Marsha Powers
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Access to Capital
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With the push underway to create new industries in Ohio, the bar has been lowered for smaller businesses and eager entrepreneurs with a great innovative idea to get into the venture capital game. Historically this more sophisticated form of financing was primarily reserved for companies with sales generally from $25 million and up looking for $10 million of new private equity and up.
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- Port Authority Reaches Out to Fund Smaller Projects
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written on November 05, 2007
by Marsha Powers
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Access to Capital
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You're in the market to finance construction, land and building acquisition, facility improvements or maybe major capital equipment. You'd like to look at funding sources other than just your bank. Consider talking with the Cleveland-Cuyahoga County Port Authority's Development Finance Group. The Development Finance Group, is an independent lender, with some very attractive rates and terms, for not only just the big box deals, but also for small businesses seeking financing of $1 million or more for fixed assets for their business.
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- Passport to Export Financing
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written on November 05, 2007
by Marsha Powers
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Access to Capital
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Small businesses interested in opening or further developing new markets overseas for their products and services, while reducing their risk, have many options available.
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- Negotiate Better Deals Before You Need Money
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written on November 05, 2007
by Marsha Powers
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Access to Capital
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It is vital that your business is able to access capital funding whenever it needs it. If you have a good track record and have been paying your loans back on time, but now find yourself jumping through hoops for your lender, it may be time to start shopping around - before you really need the money. There is a lot of truth in the old saying that a bank only lends money when you don't need it. The good news is that there are a lot of banks competing for your business. Many businesses today now work with more than one bank - just to keep a level playing field.
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- Prepare Loan Requests Like the Pros to Access More Capital
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written on November 05, 2007
by Marsha Powers
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Access to Capital
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The best approach to take advantage of the available funds if you are requesting a significant increase in credit is to prepare a complete loan package, prior to meeting with a lender and submitting your credit request. Consult with your financial advisors and take control of the credit process by understanding what is required prior to meeting with a lender. This pro-active strategy helps to clarify real cash needs and makes your loan request stronger. You look smarter while helping the lender to make a decision faster.
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- Know the Signs of Lender Fatigue
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written on November 05, 2007
by Marsha Powers
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Access to Capital
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Annually many banks assess how profitable their individual client relationships are to the bank, their shareholders and their ratings on Wall Street. In many cases, these audit reviews are conducted by your relationship manager when your company's line of credit is up for renewal or when there is an increase in the activity in your company's financing needs, like increasing or terming out debt. Other instances occur when the bank's credit portfolio audit monitoring team reviews the portfolio's performance in order to make corrections and match up the portfolio with updated bank corporate goals and objectives.
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- DeMystifing National Institutes Of Health Small Biz Grants
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written on November 05, 2007
by Marsha Powers
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Access to Capital
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Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs, managed by the National Institutes of Health (NIH), are federal financial grants targeted for small business. NIH's mission is to improve human health through biomedical and behavioral research, research training and communications. In 2006, the NIH reserved $640 million (SBIR/$571 million and STTR/$69 million) for Biomedical/Behavioral research and funding. The grants are available in a cross section of participating agencies in which a small business can partner with.
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- Helpful Tips for Start Up Businesses
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written on October 02, 2007
by Marsha Powers
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Access to Capital
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Below is an Excerpt from: How to Change the World" from Guy Kawasaki's Feed Blitz "How To Change The World." This is a very realistic overiew of what really happens with many start ups. Great advise. Great reading! Marsha Powers
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- SBA 504 Guarantee Fee Eliminated
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written on September 24, 2007
by Marsha Powers
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Access to Capital
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Commencing October 1st, the up-front Small Business Administration (SBA) Guarantee fee, ranging to up to 1/2% of the loan is being eliminated. This one-time engagement fee historically has been paid by the borrower. Fees the particpating bank normally charges, paid on the first mortgage amount, is unchanged.
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- State to Pump 500 Million into Small Biz by Reviving Link Deposit Program
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written on September 20, 2007
by Marsha Powers
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Access to Capital
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In hope of growing the state's economy, Ohio Treasurer Richard Cordray is revving up a small business program that has languished in recent years.
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