Remove Forecast Remove Revenue Remove SBA Remove Startup
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10 Reasons You Don’t Qualify for an SBA Disaster Loan

Up and Running

Luckily, the SBA has created a separate COVID-19 Disaster Loan, with less stringent eligibility criteria and a streamlined application process to hopefully make more funds available for more businesses. . Most banks will not issue traditional SBA loans to brand new businesses. Your business is brand new.

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9 Steps to Handle Business Loan Rejection

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Where you borrow money from angel investors or venture capitalists willing to lend money to startups for more interest and usually an equity kicker as well. You can also ask your bank about SBA-backed borrowing. Start by adjusting your milestones and forecasts. The average SBA loan amount is $107,000.

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You’ve Got Funding: 5 Things to Do With the Money Right Away

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How to spend your startup funds is the most important decision a business faces at this crucial stage. Look closely at your cash flow forecast so that you can spend accordingly. You can always upgrade all of these items as your business starts to bring in revenue. Create a must-have list. Evaluate technology needs.

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Do You Know How Your Business Is Doing and Where It’s Going?

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A formal business plan can be a great tool for businesses at any stage of development—not just for startups looking for capital. I believe your business plan should be a living document that you regularly consult (think at least quarterly) to measure how you’re doing today versus what you forecasted in your plan.

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Tips for Writing a Successful Business Plan for a Daycare Center

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Like it or not, this will likely affect your revenue and enrollment, especially if you are offering part-time care. Your financial projections should include forecasted income, expected enrollment growth, balance sheets, cash flow statements and projected/needed capital expenditures. What is your business model? Projected costs.

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The Importance of Burn Rate and Cash Runway

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If you’re running a startup or small business in these times, you have to be thinking about a Plan B and even a Plan C. This is where forecasting and budgeting are crucial for the survival of your business. You’ll need to create multiple sales forecasts and expense budgets to explore different scenarios.

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8 Alternative Funding Options for Small Businesses

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SBA and small business lending funds, for example, act as alternatives to typical bank loans. . Typically, they also offer more attractive terms and less severe penalties which can be beneficial for startups that are just starting to navigate their financial needs. Don’t be discouraged if you’re not a tech or medical startup.