Articles
5 Habits of Outrageously Successful Small Business Owners
Successful small businesses succeed on their own terms. The true legends stake out their own place – they don’t follow a well-worn path. However, that doesn’t mean that successful businesses don’t share a number of common traits. 1. Have a well-defined business plan and vision No business succeeds by copying others. And, your business can’t…
What the SBA’s New Guidelines Mean For Your Small Business
The U.S. Small Business Administration has changed the guidelines it uses to determine what a “small business” actually is. The new criteria now now allow an estimated 8,500 additional businesses to be eligible for the “small business” title, which comes along with certain federal assistances. According to a recent Wall Street Journal report, the criteria…
Business Financing Through Unconventional Methods
For those small business owners that think a small business loan is out of their reach – prepare to be inspired. Jake Fitzsimmons, opened a hamburger bar in Colorado in 2010. He thought the odds of obtaining a loan were so low that he often asked himself, “why even bother [applying]?” However, because he had…
How the Gender Gap Affects Small Business Loan Approvals
If you’re looking to get a small business loan, there are many factors that come into play. Your credit history, your business’ cash flow and numerous other things will be looked at by lenders. However, there’s another factor that seems to be coming into play: gender. According to recent reports, female small business owners are…
Preparing for Taxes, Year Round
Every year in April, small business owners scramble to pay all the taxes that their business owes. This can sometimes be a stressful process: you’re scrambling in search of documents, digging through drawers in search of receipts, hiring accounting firms and much more to make sure you get every deduction owed to you. What if…
The 3 Fastest Growing Small Business Industries
Across the country, there are a number of industries that are beginning to bustle with activity as more small businesses get in on the action. And if you’re looking for a tip on what these growing industries may be, then Inc. Magazine has you covered. The news outlet recently specified some of the fastest growing…
You Can Trust Small Businesses – And A Study has Proven It!
When you’re a small business owner, one of the most powerful tools in your arsenal is trust. Think about it: consumers have no idea who owns Wal-Mart, in fact, they probably don’t know a single person who works at their local branch of the brand. Yet, they do know the individuals who run their local…
3 Foolproof Ways to Show Lenders you’re a Low-Risk Borrower
Whether you’re looking at a traditional bank, or a nonbank lender like OnDeck, applying for a small business loan is all about illustrating your overall risk profile. A lender is looking to determine ways how likely you are to repay your loan – in full and on time. In order to make your application as…
The Friendliest States for Small Businesses
According to a recent study, some U.S. states are far more friendly and accommodating to small business owners than are others. The third annual Small Business Friendliness Survey, conducted by Thumbtack, aimed to determine the states and cities that offer regulatory standards and conditions that best accommodate small business owners. According to the small business…
How Busy is Too Busy for Main Street?
Give Back to Employees with a Summer Get-Together
Getting your employees motivated can sometimes be a tough task. Sure, milestones will always spur the team forward – obtaining a high-level new customer, for example, or reaching a new sales goal. Yet most of the time, the hard work required by the job can be draining – especially in those sweltering summer months. That’s…
How to Meet the SBA’s loan criteria
To be eligible for a loan from a U.S. Small Business Administration-approved lender, you need to meet a lot of standardized criteria – all of them listed on the SBA’s website. However, you’ll need to do more than just meet the bare minimums, no matter what lender you’re applying to. Listed below are four tips…
Your Business and Personal Credit Scores are About to Mix
Many small business owners likely think that their business credit scores and their personal credit scores don’t have an effect on each other. That’s never been entirely true – and recent developments mean that business and personal credit scores are going to start impacting each other even more directly. According to a report from the…
The Coolest Small Businesses in America
We think every small business is “cool”, but the list below takes cool to a whole new level. – The Blue Starlite Mini Urban Drive-In, a miniature drive-in movie theater, located right in the middle of Miami, that allows space for a scant 18 cars per screening. – The Carousel Bar, which is exactly what…
OnDeck Generates $3.4B In Economic Impact & 22,000 Jobs Nationwide
We’re beyond excited to release our first economic impact report, which shows an estimated $3.4 billion in business activity and 22,000 jobs created from our $1 billion in small business loans delivered to date.