Insights into the world of small business lending and development

Blog

This article originally appeared on USA TODAY.

Rhonda Abrams, Special for USA TODAY

America loves small business, and from April 29 to May 5, America observes “Small Business Week,” dedicated to recognizing the best small-business owners and entrepreneurs.

I also want to recognize the best small-business support in the country: the consultants of America’s SBDC — Small Business Development Center — network.

National Small Business Week, which began on Sunday, April 29 and runs through Saturday, May 5, is a time to highlight the role small businesses play in our economy. Small businesses represent 99% of all employer firms and account for half of our nation’s jobs and economic output. Innovation by small businesses spurs growth throughout the entire economy and boosts prosperity in their local communities, and NSBW is an important time to celebrate these contributions. It’s also an important time to consider policies that can help facilitate entrepreneurial activity year-round. No resour...

A few years ago, Rachel Bernier-Green was looking for an outlet from the stress of her intense job at a multinational accounting firm and discovered a passion for baking. It didn’t take long before friends and family were encouraging her to sell her baked goods to the masses. Rachel founded ‘Laine’s Bake Shop, LLC in 2013 using a shared kitchen space, working on the side to get her business off the ground. After a few years of baking part-time, Rachel decided to finally quit her job and start a bake shop full-time with her husband Jaryd. 

As a start-up, Rachel struggled to g...

This article originally appeared on Forbes.com

Rohit Arora, Forbes.com Contributor

Each year since 1963, the President of the United States has issued a proclamation calling for the celebration of National Small Business Week, which in 2018 spans from April 30 – May 5. The Small Business Administration (SBA), which provides services through an extensive network of field offices and partnerships with public and private organizations, is the driving force behind Small Business Week. The agency provides access to training and mentoring programs, assistance in exporting, and, im...

Alfredo Zendejas co-owns Accesorios Zendejas along with his wife, Leticia Sanchez, in Los Angeles, California. A true mom-and-pop enterprise, Alfredo and Leticia work together to design, create and deliver custom decorative pieces for quinceñeras, baptisms, weddings and other special occasions.

Accesorios Zendejas is not Alfredo’s first business venture: he co-owned a business in downtown L.A. for many years, but he and his partner were forced to sell after financial setbacks caused by the 2008 recession. But it didn’t take long for Alfredo to bounce back and return to his entrepren...

April is often associated with spring cleaning and reorganizing, which means you finally made the time go through that overflowing junk drawer or to organize last year’s financial statements for the tax filing deadline. But when it comes to your finances, you can use this time to do more than just file your tax return documents thanks to the resources provided as part of National Financial Literacy Month.

Financial literacy simply means that you have the knowledge necessary to make informed and positive decisions about handling your money. The concept is especially important for sma...

This article originally appeared on Forbes.com

Rohit Arora, Forbes.com Contributor

Small business loan approval rates at big banks continued the upswing with yet another new high last month, according to the Biz2Credit Small Business Lending Index™ (March 2018 figures). Big banks (assets of $10 billion+) are granting more than one-quarter of the small business loan applications they receive. The 25.5% approval percentage, up one-tenth of a percent from February, represents a post-recession high point for big banks.

With the Federal Reserve’s continuing path of intere...

Throughout Women’s History Month, we celebrate the economic, social and political contributions that women make to our world. Women account for roughly half of the American workforce, attain higher levels of education than men and are an increasing share of primary or solo breadwinners. There is no doubt that for America to thrive, we must promote the economic empowerment of women. Central to women’s economic success is women’s entrepreneurship, which contributes significantly to overall economic growth and prosperity. Yet female entrepreneurs still struggle to access the tools and resource...

As Black History Month comes to a close, it’s important to take some time to focus on the contributions and potential of African-American entrepreneurs. Businesses owned by people of color are crucial to growing the American economy, adding more than $300 billion in sales in 2012 alone. Between 2007 and 2012, the number of African-American-owned firms rose 34.5%, from 1.9 million to 2.6 million, accounting for roughly half (49.9%) of all small businesses owned by people of color. Yet, while minority entrepreneurship is on the rise, these founders still face significant challenges to their g...

Small Business Majority is proud to announce it is taking the lead on Venturize.org, an online resource hub for small businesses that need help accessing responsible capital and becoming loan ready. Here’s a little about us and how we plan to take Venturize to the next level.

Small Business Majority is a national small business advocacy and education organization, founded and run by small business owners to ensure America's entrepreneurs are a key part of an inclusive, equitable and diverse economy. We actively engage small business owners and policymakers in support of public po...