What is an SBA Microloan and what does it do for you?

The purpose is to provide Business loans up to $50,000 for working capital, equipment, or supplies. The mission is to integrate micro-level financing with training and technical assistance (TA). TA refers to the education and guidance provided to entrepreneurs to help them grow their business. The objective is to provide business-based training to support business owners’ success and help navigate ...
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microloan
technical assistance

Steps to increase profitable growth

Success is defined differently by every person. In business, success is often defined by consistent profitable growth. Below is a checklist with simple questions you can ask yourself to assess how well you are positioned for profitable growth and what changes you can make to ramp up future growth. First you must understand where your business is. Then, identify what ...
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marketing
operations
product
sales
vision

Understanding revenue and expenses

The main goals of any business is to drive revenue and profitability. However, some business owners may not fully realize the importance of tracking their revenue in detail, along with the money their business spends. Not every business owner is an accounting expert, but a little knowledge can go a long way when it comes to tracking revenue and expenses. ...
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accounting
expenses
financial statements

What is a line of credit?

Understanding Business Lines of Credit (LOC) The main advantage of a Line of Credit is the ability to borrow only the amount needed and pay interest only on the amount borrowed. How a LOC works: Typically, a LOC is for 12 months. It’s short term. It’s a pre-set borrowing limit normally used for working capital to operate a business. The ...
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capital
line of credit