New Funding Source Available For Small Businesses

Bentonville, AR (BlackNews.com) -- Existing small business owners and entrepreneurs with hopes of starting up continue to seek access to capital in the form of bank loans, yet are still struggling to land credit. Only half of small businesses that tried to borrow last year got all or most of what they needed, according to a survey by the National Federation of Independent Business. In the mid-2000s, 90% of businesses said they got the loans they needed.

To help support small business and its business members, Sam's Club has announced that it is testing an online program with Superior Financial Group, the Nation's leading Small Business Administration (SBA) lender, which would make $5,000 to $25,000 loans available to its members who qualify. In a November 2009 state of small business survey conducted by Sam's Club, nearly 15 percent of its business members reported being denied a loan to run their operation, up from 12 percent in April 2009.
The Sam's Club small business loan pilot will focus on serving Main Street minority, women and Veteran owned small business owners as well as micro-entrepreneurs under the SBA's Premier Outreach Express products such as Community Express, Patriot Express and Export Express loans.
Sam's Club members who apply for a small business loan online during the pilot will receive a $100 off the application fee, a 20 percent discount and a 7.5 APR, which is 25 basis point discount. The terms of the loans will remain at 10 years, which is common to help keep monthly payments low. There is no penalty for early repayment. Business memberships cost $35 annually at Sam's Club.
For more information or to apply, visit:
www.samsclub.com/sams/pagedetails/content.jsp?pageName=sbaLoanProgram

Business Without Borders

Thank you all for joining this group. I just wanted to give you an update about what I've been up to with setting up The Liberia Project. As you may know I've been given an acre of land to go to Liberia to build a womens business center. I am traveling to Liberia in November to identify other opportunities that you all may want to take advantage of. Just a little bit about Liberia resources. Liberia is rich in rubber, coffee, coco, palm oil, gold, diamonds, kosava and rock salt. I've already identified two other business opportunities based on this information. Once I hit the ground I will be gathering more information that will help to bridge the gap between business owners there and business owners here. These opportunities will create jobs for the people of Liberia and help us to expand our businesses. We are having a fundraiser on October 29th. To find out more about what you can do to get involved visit http://www.TheNewLiberia.com/.

Until next time
Make It A Great Day!
Audrey

Making The Adjustment

Yesterday when I was hosting my radio show Business With Breakfast I talked about making adjustments.  Every Saturday during the Fall and Winter months I bowl in a league.  When I first started bowling a few years ago I sucked.  But as time went on I improved.  One of the things that I learned from bowling is that when the ball does not go the way you want it to you sometimes have to make a small adjustment until it hits the head pin and you get that strike you were striving for.  Maybe your first adjustment brings you a little closer to the head pin and you have to make another adjustment and if that is the case that's okay as long as you see the head pin and believe that with every adjustment you make you are that much closer to getting the strike.

The same thing hold true for business.  Sometimes you have to make small adjustments to hit your goal.  You have to remember that your business is always a work in progress.  You will always be making adjustments for one reason or another.  If you are just starting out you will have to make adjust to grow the business.  If you are a successful business owner you may have to make adjustments to expand the business or sell the business.  The thing about adjustments that you must understand is that it is okay to make them.  Making an adjustment to your business does not mean that you have failed.  It simply means that you have figured out that your business is not progressing as you would like and in order for that to happen you have to change some things.

I hope that this article help you in all parts of your life.

Until Next Time
Make It A Great Day!