SmartBiz in the News

When your business is looking to expand or make a large investment, a long-term business loan is the way to go. The benefits of long-term loans include more time to repay and lower monthly payments than you’ll find with short-term business loans.

What’s so great about the Small Business Administration? Pretty much everything. You always knew it was a source of loans when banks turned you away. But beyond that, the SBA’s significant role in supporting small and startup businesses makes it an important driver of the U.S. economy.

What do business owners, professionals and experts expect 2016 to hold for small business? Business News Daily got in touch to find out, and, overall, the consensus is that it will be a year ripe with opportunity, yet also teeming with new obstacles to overcome.

Borrowing money helps small businesses grow and thrive. Access to funds can help small business owners buy new equipment, hire staff, consolidate debt and more. With new online lenders emerging, access to affordable funds is increasing and small business owners are feeling better about their prospects. According to research this year from American Express OPEN, of the small business owners interviewed, 93% said that they were confident they could access the capital required to grow their businesses.

Bye bye Black Friday. The big day for small business owners is November 28th this year.
Launched in 2010, American Express Small Business Saturday has become an annual tradition celebrating independent retailers. It’s a great way for small local businesses to compete with larger companies for holiday dollars.

Any entrepreneur can have a hard time getting a small business loan. Veterans may have a more difficult time because of the length of their military service. Here are five small business loan options veterans should explore from NerdWallet.com.

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Starting a franchise restaurant can be less risky than opening a brand-new, untested small business. Consumers already know the brand, and the franchiser typically offers support and guidance. But you’re responsible for finding your own franchise funding, which can cost hundreds of thousands of dollars.

When Dawn Brolin, owner of Windham, Connecticut-based Powerful Accounting, needed capital to fund her firm’s growth, she decided to skip the bank and try an online lender. Although she was qualified for a traditional bank loan, she wanted to test the waters of alternative lending and share the experience with her small-business clients.

If you’re a U.S. doctor, you’re probably bracing yourself for the financial fallout from ICD-10 — a major shift in the way physicians document medical diagnoses. The change, which takes effect Oct. 1, has prompted some doctors to look for small-business loans to finance necessary software, training programs and more, which could cost hundreds of thousands of dollars.