Entries from BizBox Blog on Slate tagged with 'Banking'
Did Your Bank Take Federal Money?
Although it ran over two weeks ago, this Wall Street Journal article on the community banks--those small (under $1 billion in assets), locally-focused financial institutions that we've covered extensively--is still very, very much worth your time. It does a phenomenal...
A New Bank, And An Extremely Cool New Gadget
I recently moved my main business checking account to a new bank, for the best reason possible: my new bank--a small, locally focused institution--offered me a significant line of credit for my business. I have to admit I had...
The Bank-Pickin' Is Mighty Fine
We thought we'd highlight a wonderful blogpost we just came across from the blog Your Friendly Neighborhood Computer Guy, which chronicles, among other things, the blogger's quest (his word) to start his own computer business. His latest topic: how...
How To Choose A Bank
We've been trying to show you alternate ways to obtain credit as banks, the traditional, logical source for borrowing money, have had precious little to lend. Yet banks remain a prime place to go to put to work what...
A World Without Banks
What would a world without banks look like for an entrepreneur? Two words: Seller Financing. In an era of tighter financing standards and risk-averse banks, it’s worth approaching your small business challenges as if next year will be a world...
When a Small Business Customer Goes Bankrupt
Small business trouble can mirror what’s going on with large companies and the stock market. Unfortunately, I got a dose of that this past fall. I suspect many of us small business owners will be working through these problems in...
Online Money? For My Business? Really? - Part III: Prosper.com
The problem: You need a small amount of capital such as $25,000 at a reasonably low interest rate, to be paid back over a period of time such as three years. A complication: You do not feel right about asking...
Online Money? For My Business? Really? - Part II: CircleLending, aka Virginmoney.com
CircleLending satisfies the entrepreneurial dilemma about borrowing money by assuming, at the outset, that you’re going to have to get some funding from friends and family. Which, I have to admit, is a pretty good assumption when it comes to...
Online Money? For My Business? Really?
The basic problem of getting flexible, cheap, dependable financing is one of the never-ending issues for entrepreneurs. In the next few posts I’ll review my experience with some of the fast, cheap, on-line methods of finding small business funding. I’ve...
To Thine Own Banker Be True
“Neither a borrower nor a lender be, for loan oft loses both itself and friend”—Polonius to his son Laertes, Hamlet Act 1, Scene 3 As small business owners, we don’t have the luxury of following Polonius’ sage advice to his...
So What Do Banks Do, anyway?
I previously wrote that Banks do not lend to small businesses, so some readers may be wondering what, exactly, do banks do? Let’s approach this by process of elimination: They don’t make small-business loans. Unless bribed by the SBA through...
Small Business and Banks, and the Tooth Fairy
When I think about my small business trying to get a loan from a bank, I’m reminded of Randolph and Mortimer Duke from Trading Places torturing Eddie Murphy and Dan Akroyd’s characters for sport. I imagine myself walking empty-handed out...
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