small business owners

NY Small Business Owners Protest $15 Minimum Wage

March 8, 2016
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In November last year, Cuomo announced that New York will raise the wages of permanent and seasonal workers to $15 by 2021

American Express wants to lend more to small businesses

February 10, 2016
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AmEx hopes for the small-business loans to make up for the lost revenue from the Costco deal

The Importance Of A Profitable Business Model And Creative Financing For Your Broker Office

August 10, 2015
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Continuing The Year Of The Broker Discussion, I wanted to touch on another aspect that isn’t discussed too often in our space (Independent Broker or Independent Agent space), and that’s the importance of creating a profitable business model and rounding up creative debt financing for our Office. I believe it was the Roman Playwright, Plautus, […]

The Funding Calls That Won’t Stop

November 23, 2014
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“Your business has been approved for a loan…” Last week, Chicago Public Radio (WBEZ 95.1 FM) investigated a trend in the small business community, the use of merchant cash advance financing. The station called me in advance to answer some questions about merchant cash advances and I gave my best explanation of the industry and […]

Access to Capital – A Dose of Reality

June 15, 2014
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new jersey

So much for a lack of transparency… While sitting directly next to Maria Contreras-Sweet, the head of the Small Business Administration, OnDeck Capital’s CEO corrected U.S. Senator Cory Booker’s comments about the APR of their loans. High teens? Not so, said Noah Breslow who explained their average 6 month loan has an APR of 60% […]

The Deal

May 25, 2014
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When times are tough, small businesses take chances. Last year, a family run business in Cohasset, MA made a snap decision and agreed to a $75,000 loan with infinity percent interest, literally. The principal was completely repaid in just 74 days but as per the contract, they still had to make fixed interest payments for […]

The Real Impact on Small Business

May 22, 2014
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the truth

It’s not easy being in the lending business. Just talking about money can make people uncomfortable. Bringing up how much money you have, don’t have, or wish you had is like bringing up politics at Thanksgiving dinner. It’s taboo in this society. It’s even rude to ask somebody how much they make a year. That’s […]

Federal Reserve Examined Alternative Business Lending

March 20, 2014
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Federal Reserve

Back in January, 3 staff members of the Federal Reserve board investigated peer-to-peer (p2p) business lending, particularly by comparing it against p2p consumer lending. It offers this introductory background, “As distrust and dissatisfaction with commercial banks grew during the recent financial crisis,there was large growth in nonstandard types of borrowing arrangements.” That’s usually where we’d […]

What’s the Reason Behind the Rise of Non-bank Financing?

March 6, 2014
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OnDeck Capital CEO Noah Breslow is no stranger to CNBC. Just as word hit the press that his company had raised another $77 million, he made a television appearance to discuss their success. So why are small businesses owners turning to alternatives? Many businesses that use alternatives such as OnDeck qualify for traditional bank financing […]

How Will Obamacare Affect Small Businesses?

December 12, 2013
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It’s one thing to assume how small businesses feel about Obamacare and another to hear it straight from the horse’s mouth. New York-based funding provider Merchant Cash and Capital surveyed their clients and this is what they learned: Nearly one third of respondents believe the Act will increase operational expenses. 40 percent aren’t sure how […]

Can An Increase In Cosmetic Surgery Open New Markets For You?

November 13, 2013
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cosmetic surgery

As reported by the American Society for Aesthetic Plastic Surgery, cosmetic surgical procedures have increased more than 3 percent in the past year, with approximately 1.7 million procedures performed in 2012*. This may not appear to be a drastic rise, but considering that in the past 16 years the number of cosmetic procedures for women […]

The Entrepreneur

October 13, 2013
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entrepreneurial warriors

They paint their faces, they unsheathe their swords. They look fearless even if they are in fact full of fear. Some wear a full body of armor and others have no armor at all. We’ve all seen them, but they are not easily understood. The entrepreneur storms the castle not because he believes he will […]

The Economics of Lending: Money vs. Goods and Services

May 21, 2013
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money exchange

If I were to offer you the choice between a free DVD with a retail value of $20 or a free $20 bill, which one would you take? Unless the DVD was something you were going to buy anyway or unless it was a rare item that is hard to find, you’d probably accept the […]

Merchant Cash Network Hosts MCA Info Session

April 20, 2013
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merchant cash network

I recently had the opportunity to sit in on an informational session for small business owners hosted by New York City based ISO, Merchant Cash Network (MCN). On Wednesday April 10th, small businesses packed into a room at 1375 Broadway to learn about alternative financing with a focus on Merchant Cash Advance. MCN’s vast knowledge […]

First Ever Small Business Community Chat: Join in!

March 28, 2013
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social circles

The Small Business Community on Google Plus recently broke 1,000 members and to make the most of it, we’re kicking off the first ever Small Business Chat. The chat events will be held weekly, and each week it will cover a different topic. The first chat will be on Tuesday, April 2nd at 8pm to […]

Don’t Get Banned by Your Target Market

March 19, 2013
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kicked out?

I’ve watched this happen a lot over the last several weeks, particularly on Google Plus. Businesses both large and small join a community, start posting links to their blog and then they get banned. Some are posting crap and others are posting genuinely good content, but the good content is being pushed on people and […]

Small Business Loans for Men? Not a Good Idea…

March 18, 2013
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business loans for men

A man walks into a bank and says “I want to know what kind of programs, discounts, and benefits you offer for men owned businesses.” The bankers exchange glances with each other and reply together, “For men? Sure! We love men!” Sounds a little outrageous doesn’t it? Don’t worry, this doesn’t usually happen, at least […]

The Financial Statement Problem

February 26, 2013
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balance sheet

The Banks Know When You Don’t Keep Track In the land of underwriting, sometimes Assets do not equal Liabilities + Equity. This only happens of course when a Balance sheet is prepared so poorly that it doesn’t even do the fundamental thing, balance… and I’ve seen plenty of these in my career. I’ve hung around […]

Your Life or Your Bank Statements

February 20, 2013
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bank statemetn

“Um, I don’t feel comfortable sending them to you because they’re private.” One of the most interesting things I experienced as a broker and underwriter is the amount of times I heard merchants tell me their bank statements were too private to send in. I understand it’s not exactly the same thing as telling someone […]

Where’s the Reserve?

February 15, 2013
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cash reserves

5 years ago it was merchant account sales. These days it’s all about the average daily ending balance in the business bank account. As the alternative business lending industry evolved, so too did the criteria to qualify, and nothing is more important now than historical cash flow. I spent a lot of time underwriting MCAs […]