Archive | Small Business Tips

Three Alternatives to Big-Bank Borrowing

If you haven’t had luck landing a business loan or credit line from the big banks you’ve approached, don’t expect your odds to improve any time soon. The Basel III guidelines, intended to prevent further financial crisis, will require lenders such as Bank of America, Citigroup, JPMorgan Chase, and Wells Fargo to substantially increase the … Read More »

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What’s the Most Important Skill for an Entrepreneur to Have?

I want to open my own business but I’m not sure I have what it takes. There are a good number of skills that are important. But in any business, nothing happens until a sale is made, so I would say the number one skill is learning to sell – or how to sell better. … Read More »

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Good Business Starts with Your Story

Something I learned early on as an entrepreneur and small business owner is that starting and maintaining a successful business depends on how well you understand and tell your company’s story. It sounds overly simplistic. Still, identifying and staying true to your new company’s story creates the foundation for a strong and healthy business. Consider … Read More »

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Bank of America Ranked No. 1 for SBA 504 Loans in 2010

CHARLOTTE, N.C.- As part of its broad support for small businesses, Bank of America ranked No. 1 among all banks in the amount of credit extended through the U.S. Small Business Administration’s 504 loan program during the last fiscal year, according to SBA figures. Bank of America originated more than $297 million in first-trust deed … Read More »

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Why Successful Football Strategies Should Be Applied to Business

Running a successful business is much like running a successful football team. What are the common characteristics between successful football teams and successful business teams? 1. A true “team” must be formed initially. All members must share a full commitment to excellence in all they do. This is a horizontal must in any organization—across the … Read More »

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Citigroup Hires 200 Bankers to Target Small Business

Citigroup Inc. Chief Executive Officer Vikram Pandit, who for the past two years has championed the U.S. bank’s “globality,” may be getting a new mantra: locality. Citigroup, which claims 2,500 of the world’s 3,000 largest corporations as clients, now says it also is targeting U.S. companies with less than $20 million of annual sales, and … Read More »

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