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What Small Businesses Can Do To Survive And Thrive During The Pandemic

YoungUpstarts

Maybe because they have often been called the backbone of the American economy, small businesses are among those with the heaviest burdens to bear. The sad reality is, some of these small businesses may never open their doors again. The odds were always difficult for small businesses even before the pandemic.

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10 Reasons You Don’t Qualify for an SBA Disaster Loan

Up and Running

Maintaining your business through the coronavirus crisis has likely led you to cut costs, revise your sales projections, and potentially seek out a loan to help you stay afloat. Your business is brand new. Most banks will not issue traditional SBA loans to brand new businesses.

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6 Stories of Successful New Entrepreneurs to Inspire Your Business

Up and Running

However, the challenges you face are the same ones that every successful small business owner has faced and then surmounted in some way or another. It can be instructive and inspirational to hear about businesses that triumphed over adversity. How these six businesses worked with the SBA to grow.

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5 Creative Ways To Finance Your Small Business When Revenue Is Low

The Startup Magazine

In a perfect world, small businesses would have an endless stream of revenue coming in and there wouldn’t be need to worry about financing. Sometimes businesses have to get creative when it comes to their small business financing, especially when revenue is low.

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4 Reasons Small Businesses Fail

YoungUpstarts

Most entrepreneurs start a new business with dreams of success, but the unfortunate fact is that too many of them fail. Census Bureau showed the reality in hard terms – 400,000 small businesses opened and 470,000 SMBs closed their doors just last year. Small Business Administration. LendingClub Inc. ,

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Is Life Insurance Required For Your SBA Loan Approval?

YoungUpstarts

When applying for a loan through the Small Business Administration (SBA), you have to meet some basic qualifications. For example, you need excellent credit , $5 million or less in annual revenue, and a net worth equal to or less than $15 million. Why is life insurance required to get an SBA loan?

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9 Steps to Handle Business Loan Rejection

Up and Running

Banks compete for small business customers and sometimes a borderline case can get approval from a different bank. For example, even after that loan is paid, the investors who lent the money end up with one or two percent of your business, as shareholders. You can also ask your bank about SBA-backed borrowing.

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