Insights into the world of small business lending and development

Blog

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...

Building a successful business is no easy feat and many owners learn what works by trial and error. That’s why we’ve rounded up some of the best financing lessons learned from the small business owners we talked to this year.  

Beware of online lenders
When Maria Cruz, owner of Heavenly Flowers Too, had an unexpected flood in her shop, she went to her bank to apply for a loan. Even though she had been a customer since she started her business, the bank denied her application. “Because I was so desperate, I decided to go with online funding … The online process was appealing b...

7 Signs That You Shouldn’t Sign (or E-sign) on the Dotted Line

As a small business owner, you are probably used to doing just about everything online - from invoicing and paying bills to marketing and ordering inventory. So it might seem natural to look for a small business loan online too. And with platforms like Accion, SimpleGrowth and NYC Local Lending, there are some great options online.

However, many online lenders target small business owners who have less than perfect credit and/or were denied traditional bank loans. The quick application process and lax criteria ca...