The Entrepreneur Fund is an eligible financial institution to qualify for the MN DEED program MINNESOTA – The Minnesota Division of Work and Economic Advancement (DEED) is accepting apps from businesses seeking to enhance efficiency by means of automation. The Automation Bank loan Participation Method is built to help production, technologies and warehousing firms with much…
As I have met small business owners over the last two decades, I have realized that financial illiteracy is rampant. Less than 50% of those I have met can read their profit and loss statement and only 25% can understand their balance sheet. My guest on The Small Business Radio Show this week says this…
Eden Prairie-based-Lariat Companies has expanded its portfolio of spaces for small businesses with the purchase of this multitenant building at 10701 N. 93rd Ave. in Maple Grove. (Submitted photo: Premier Commercial Real Estate) By: Anne Bretts September 8, 2022 4:12 pm Amazon may need a million square feet of space, but Ed Flaherty, president of…
Over the past year, we have reported on the new wave of laws enacted and proposed in various states requiring consumer-like disclosures in commercial financing transactions. These state laws are often titled “Commercial Finance Disclosure Laws.” New York and California are two states that have enacted similar CFDLs. Those laws will not go into effect…
Small businesses are incredibly important for the economy, but they often lack access to important tools or the resources necessary to make things easy on themselves. Viably’s solution is simple: a powerful app that allows small businesses to manage their finances proactively. It has banking, insights, and financial management all in one place, intending to…
As a small business, finding the right financial support can be difficult and time-consuming. From applying for loans to finding the right type of credit, navigating the financial landscape can be both challenging and confusing for many entrepreneurs. Luckily, embedded finance is making it easier than ever for small businesses to get the support they…
CDC Small Business Finance continues to lead economic development in Arizona, earning recognition as the top U.S. Small Business Administration lender in the state for 7A and 504 firms. Through Q2 of the 2022 Fiscal Year, from October 2021 through March 2022, CDC Small Business Finance approved 54 loans totaling almost $60 million in the…
getty While larger businesses often have the resources to recover from a financial misstep, small businesses may not have that luxury. Certain money mistakes can be devastating for an entrepreneur or small company that is seeking to maintain steady revenue, especially in a challenging economy. From falling prey to escalating bank fees to overusing personal…
After a career in corporate America, IyaSokoya Karade turned her love of gymnastics and her retirement savings into a new enterprise: opening a youth fitness center in her local community. She soon learned that having a passion wasn’t enough to create a sustainable business. One of her earliest mistakes, she said, was not paying herself…
The holiday shopping season is a critical time for most retailers. In fact, Black Friday, the day after Thanksgiving that is generally regarded as the first day of the holiday shopping season, got its name because it traditionally begins the period when stores go from being “in the red” and “into the black” (profitability). Retailers…