Is Your Business Fundable?
from our BLOG-magazine
As a current business owner or even a new company, you already know the importance of having significant financing to start, grow and expand your business. Obtaining business financing is a major road block for many business owners.
So you know what you need. But like so many others, or what you might not know, is how to get it.
Taking the FREE business fundability test will show you how fundable your company is right now.
A common mistake that business owners make is applying for financing before their company is ready. And this results in being declined. That is why the business fundability test is so important. There is no point in applying for business financing if you are not ready or if your company is not fundable yet. The FREE business fundabililty test is the first step to ensuring your business will have access to financing and credit whenever it needs it.
Our patent pending test reviews the critical financial measures that lenders and credit providers are looking for and will show you which funding programs are available to you right now. It will also produce a report that will help you understand from the lender’s prospective the strengths and weakness of your company. If you are not fundable yet, don’t worry. We will show you exactly where your company falls short and can provide solutions to increase your business funadability as quickly as possible.
So, is your company fundable? Find out by taking the FREE business fundability test now.
Business Selling Tips
From the Fieldquestions-answers-recommendations for business owners and acquisition managers.
For additional information, contact the Novars Group
at 571-306-3590, |
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JOBS Act and Your Small Business
from our BLOG-magazine
Getting Washington to agree on anything these days takes a Herculean effort. Given that this is an election year, both Democrats and Republicans are looking for ways to show the voting public that they are, indeed, striving to look after everyone’s best interests. In the case of the JOBS or Jumpstart Our Business Startups bill signed into law last Thursday by President Obama, both sides can now claim that they are helping beleaguered small businesses.
at our Money Management BLOG
Pros and Cons of Seller Financing
Small businesses that are being sold in this tough economy are almost guaranteed to go with seller financing in order to close the deal. Most lenders have tightened up credit to the point where only the strongest deals have a chance of receiving bank backing.
Gone are the days when banks routinely approved "goodwill financing" as lenders are much more interested in financing what is tangible than ethereal attributes such as brand perception, customer loyalty or employee happiness. While those things are important for any business, banks are looking to finance concrete numbers only.
Getting Your Business Sold
So, what does this mean for you if you are selling your business? Is owner financing of the last resort or are there some aspects of this option worth considering?
With the tighter lending restrictions, bankers who are willing to finance small business sales are only covering 50-60 percent of the purchase price - the buyer or seller must cover the rest. With buyers typically putting 15-20 percent down, the remaining funds need to be financed. That is where the seller comes in.
Sellers aren't usually thrilled to offer financing for their businesses, preferring to close the deal and walk away with no further obligations. But, that option leaves open the possibility for the seller to take back the business if the new owner doesn't meet certain performance benchmarks.
Securing Your Position
Benchmarks ensure that the new owner doesn't drive the business into the ground without paying the consequences. If the business begins to flag, then the seller can retake possession to protect his stake. Of course, under that legal arrangement the buyer loses his down payment as well as his interest in the business.
Small business sellers may look at seller financing with skepticism especially if it leaves open the possibility that they may have to run the operation again if the new owner can't. But the leverage exerted by the seller could actually help the buyer work diligently to make sure that his own interest in the company is preserved.
Seller financing may not be the favorite choice of either party, but if that's what it takes to get the deal done in 2010, then that is what needs to be considered.
View more money management ideas at our Money Management BLOG
What Staffing Do You Need to Start a Business?
from our BLOG-magazine
If you’re planning to start a new business, you’re in good company. Hundreds of thousands of new businesses launch every year from the freelancer who works at home to the Silicon Valley start up which aims to become the next Google, Microsoft, or Oracle. Depending on the size of your enterprise, you may need to hire staff to handle some of the responsibilities associated with running your business. In times past, you would have hired a permanent employee, but today your options are broader and include the following three options.
at our Money Management BLOG
Texas, California Rank Best and Worst for Business
from our BLOG-magazine
Chief Executive Officers know full well just how challenging it can be to do business. Some states are decidedly business-friendly including Florida, which has promised to provide the most welcoming environment for businesses. Some states, however, make it difficult for businesses to succeed, burdening them with high taxes, onerous regulations or simply making it difficult for workers to enjoy a decent quality of living.
at our Money Management BLOG
Smart Considerations When Shopping for Life Insurance
from our BLOG-magazine
A life insurance policy can offer protection to your family, providing your spouse and children with the funds needed to maintain their lifestyle after your die. Without such a policy, you could doom your family to a lower financial position, perhaps impoverishing them as your surviving spouse seeks to make ends meet.
at our Money Management BLOG
4 Simple and Easy to Apply Business Tips
from our BLOG-magazine
If you are a small business owner, you may find that your limited resources restrict you from competing with the big guys. Well, those big guys usually started out as small guys. Indeed, Apple, Google and Mattel each got started in a garage and are now among the largest businesses in the world.
at our Money Management BLOG
View more money management ideas at our Money Management BLOG
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