According to the Congressional Budget Office, the five-week closure cost the economy $11 billion, and $18 billion in federal spending was delayed.
A K-9 officer for the Indianapolis Metropolitan Police Department and his wife have completed a $2.1 million expansion of their 15-year-old kennel and animal-care business.
Dozens of small businesses have been helped by microloans—smaller than $50,000—from the Indy Chamber’s Business Ownership Initiative.
According to the Federal Deposit Insurance Corp., at the end of 2008 Indiana financial institutions had $4.6 billion in small-business loans on the books that originated for less than $1 million. That figure stood at $3.8 billion this past June, about 17 percent lower.
Loan approvals resumed after going on hold Thursday, when the SBA reached its $18.75 billion annual limit for loan guarantees.
You certainly don’t want to keep paying a mortgage if it restricts your business in other areas. But you don’t want to cough up too much at once and have the same effect.
To write (or refresh) your mission statement, think about what you do, how you do it and why you want to do it.
Indiana businesses borrowed $424.7 million through U.S. Small Business Administration programs in 2012, an 18-percent decline from 2011, latest SBA statistics show.
The bank needs to know how your business is doing right now (usually the most recent 30 or 60 days), rather than rely on your current year’s tax return that may have aged several months.
Private firms that need to raise relatively modest amounts of capital have a hard time finding money. Now three Indianapolis entrepreneurs think they have the answer: crowdfunding. Individuals make small investments that are aggregated to fund a business. Indianapolis-based Localstake wants to be the matchmaker.
Unexpected problems add to the headaches of opening or relocating a business, and we hear a lot about the hang-ups of required, but annoying, environmental investigations.
A recent study from Credit Suisse found that over $15 billion of small commercial mortgages (under $5 million) are coming due in the next few years.
Prepare to talk in detail about your business, the plans you are making and the reasons for expanding before you show the banker the facts and figures.
During these difficult times, small-business lenders are looking harder at intangibles—including a borrower’s character.