Financing Your Business With A Microloan

If you have been looking to finance your start-up but the major banks have turned you down? then you may to consider getting funds from a microlender. Accion New York is the top microlender in New York.

Microloans generally cost more than bank loans, though some subsidize rates with grants. Accion’s rates range from 11% to 18%, and Business Outreach Center’s rates are about 8% to 12%. Banks charge around 9.25% to 11.25%

Compare to see if these loans may have better rates than a business credit card. Also check to see if the rate is fixed or variable. A fixed rate is better for cash management.

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Microloans, which typically range from $500 to $35,000 and are often doled out by nonprofits, are helping entrepreneurs citywide build day care centers, spruce up storefronts, outfit restaurants and launch beauty salons.

“It’s important for people to understand that there is this source of capital,” said Paul Quintero, interim CEO of Accion New York. “Microloans are credit for the unbanked or underbanked.”


Quickbooks + Typepad = Small Business Blogging

I have been blogging for nearly four years, and I have used  different blogging platforms  including Blogger, Typepad and WordPress.  I often tell my small business clients that they should blog, and apparently Quickbooks and Typepad agree. The two companies have teamed up to encourage entrepreneurs to blog and they provide a convincing argument. For some who already blog it is more like “preaching to the choir”, but if you are not convinced, then read this reasons below.

Blogging is good for business.

Blogging is a simple, low cost solution for staking out a claim on the Internet and connecting to your customers. Best of all, it gets results. More and more companies consider them to be an essential part of their marketing strategy.

  • Create an inexpensive online presence. Blogs are a quick, easy and low-cost alternative to a traditional website. They’re especially handy for small business owners who may not have a large budget or technical know-how.
  • Generate traffic and drive more sales. Blogs create a strong two-way connection with your customers. You can collect feedback directly from them and stay on top of what they want.
  • Distinguish yourself from larger competitors. This more personal online presence helps your company develop a more “human” voice, and forge a stronger connection with customers. It’s powerful way for a small or medium-sized business to stand out in crowed marketplace.
  • Build stronger customer relationships. Create a 1:1 dialogue with potential customers. Blogs build a bond with customers by proving that you’re interested in what they have to say.
  • Rank high in search engines. Search engines prefer frequently updated, well constructed web pages and content. Frequent updates help ensure that search engines add your content to their search index, allowing more customers to find your business.
  • Share your enthusiasm. A blog shouldn’t be used to just sell or push a product. Instead, blogs are an effective way to share your enthusiasm and passion for your business with a broader range of customers.
  • Generate buzz. Talk about what’s happening in your business. Promote an upcoming product or trade show. Or use the forum to respond to comments and questions from your readers.
  • Test ideas and products. Because blogs encourage conversations, people can easily comment on their experience with your product or service. They can share valuable ideas, and ask questions while allowing you to gather their input as research.

Even better,Typepad is offering a discount to Quickbook users.

Resources For Women Entrepreneurs

Women are outpacing men with starting new businesses. Here are some resources and communities that may help these business succeed.

Check out to find the right fit for you, and don’t just network with women. Tell everyone what you are doing and who knows who may be a client, customer or business partner.

Mint : Personal Finance Application

While Geezeo and Wesabe have been buzzing around the past few months, another personal finance application has won over the Tech Crunch crowd winning for best presenting company at the Tech Crunch 40.I have yet to check out Mint, but I will and let you know in a full out review.

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Mint is a personal finance application that lets users track and monitor their financials in one place without the need of routine maintenance or accounting knowledge. Their application tracks bank, credit union and credit card transactions and alerts users to upcoming bills, low balances or unusual spending. Mint’s patent-pending technology automatically categorizes transactions, so users know with precision where they are spending money, what their bank and credit balances are, and how much interest they have earned.

Their application also helps people find ways to save money by constantly searching for deals on credit cards, bank accounts, etc. Mint’s technology also analyzes your finances and makes suggestions all while using the same security systems as top banks.

Do It Now: Motivation Tips

Here’s a great way to kick off “Hump Day”. Incorporate these motivation tips and you will be humming along to Friday.
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Motivation Tips

Despite your best efforts, passion, habits and a flow-producing environment can fail. In that case, it’s time to find whatever emotional pump-up you can use to get started. Here are a few:

  1. Go Back to “Why” – Focusing on a dull task doesn’t make it any more attractive. Zooming out and asking yourself why you are bothering in the first place will make it more appealing. If you can’t figure out why, then there’s a good chance you shouldn’t bother with it in the first place.
  2. Go for Five – Start working for five minutes. Often that little push will be enough to get you going.
  3. Move Around – Get your body moving as you would if you were extremely motivated to do something. This ‘faking it’ approach to motivation may seem silly or crude, but it works.
  4. Find the Next Step – It’s impossible to work on a project. All you can do is focus on the next immediate step. Fighting an amorphous blob of work will only cause procrastination. Chunk it up so that it becomes manageable.