WOJTOWICZ: Prepare, then apply for small-business loan
To write (or refresh) your mission statement, think about what you do, how you do it and why you want to do it.
Small business loans
Articles
Microlenders aim to help businesses grow, survive
Indiana has three certified, not-for-profit SBA microloan intermediaries, which not only make short-term microloans—as any lender can—but also use the SBA grants they receive to offer business coaching along with the financing.
Indiana SBA lending drops in 2012, but still exceeds 2010
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.
Small loans for small businesses
Business Ownership of Indiana is ramping up its micro-lending program, awarding a $10,000 loan to Indianapolis-based Stage Ninja LLC. Can such small amounts make a difference to fledgling firms?
WOJTOWICZ: Lenders need financial statements to protect investment
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.
Web startup aims to connect private businesses, investors
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.
WOJTOWICZ: It pays to know environmental requirements
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.
Not-for-profit hoping to grow microloan program
Small amounts of funding often ignored by larger banks.
SBA lenders optimistic about year’s loan output
Volume nevertheless is expected to fall short of last year’s record numbers
WOJTOWICZ: Temporary program helps refinance commercial mortgages
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.
WOJTOWICZ: Do homework before meeting business lender
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.
WOJTOWICZ: Character always counts—even in loan decisions
During these difficult times, small-business lenders are looking harder at intangibles—including a borrower’s character.
Global micro lender Grameen ramps up in Indianapolis
Low-income women could receive loans in weeks.
Small Business Administration announces top state lender
The Indiana Statewide Certified Development Corp. has been recognized as the most robust lender through the SBA’s 504 loan program.
WOJTOWICZ: Missed tax payments could affect business loans
Property tax billing and collection were at their most confusing during the recession, when businesses were experiencing lost revenue, poor projections and, in general, toughing it out as best they could.
WOJTOWICZ: Relief available for firms with falling real estate values
New law allows banks to refinance existing real estate and equipment debt through the U.S. Small Business Administration 504 loan program.
WOJTOWICZ: How to lay your hands on working capital
Small-business owners looking for working capital would be well-served to do their research in advance and can ask their bankers about several approaches, including financing based on assets.
Small-business lending rises 30 percent in Indiana
The amount of money banks loaned through U.S. Small Business Administration programs shot up close to 30 percent in Indiana this year, a sign that the state’s small businesses—including Pat Wolfred’s CCA Inc.—have started coming back to life.
Obama signs $30B small-business lending bill
Scoring a prized political victory five weeks before the Nov. 2 elections, President Barack Obama on Monday signed a bill to help small businesses expand and hire by cutting their taxes and creating a $30 billion loan fund.
WOJTOWICZ: Be careful when locking in low loan rate
This may be a golden opportunity for small-business owners to lock in a low rate to finance expansion. But make sure you understand
the loan agreement.