Category Archives: Lending News

Announcing SBA 504 Refinance Opportunity

HappyFather's DayWeekend-3


Today, June 24, 2016 marks the first day that SBA will accept applications for the new 504 Refinance program. To better understand the benefits of this program, we’ve provided an example case study below.
Continue reading

Managing a Seasonal Business

managing a seasonal business

While recently chowing down on too many pounds of crawfish, a conversation sparked up with the guy who runs the local crawfish hut famous for their spicy mudbugs. Crawfish season generally begins in March – depending on how mild the previous winter was – and ends on July 4th weekend. So, curiosity sprang up on where crawfish hut/shack/truck owners go and what they do in the off-season. The answer? “I go back to my regular job and work the nine to five.” Rather than quenching the curiosity, it only sparked more questions. What profession allows a 4 to 5 month break? Is this the case for other seasonal businesses like ice cream trucks, sno cone shacks, ski lifts, etc.? How much revenue do they have to pull in to stay float in the off-season?

After digging in, we found how these men and women stay successful and there are only a few minor differences from the year-round businesses.
Continue reading

How To Manage Your E-Mail Inbox

arkansas small business loans

When you added your work e-mail to your new iPhone, did a part of you feel like you were throwing away any chance at peace and quiet ever again? That little chirp coming in every few minutes stating that someone or something else requires your undivided attention is enough to make your eye twitch and your blood pressure spike. But in your industry, it’s a necessary evil. You have to be on top of things; but in order to have the most productive day, the most intense focus, the best work results, you have to practice expert time management skills and that includes managing how much time you spend with e-mail.
Continue reading

How to Market to Existing Customers

Screen Shot 2016-06-08 at 10.24.26 AM

We often find ourselves using family analogies when discussing our small businesses. In the case of discussing how to market to existing customers, we want to use you – the small business owner – as the parent figure. You’ve just had a new baby girl. You spent months preparing for this baby and you want to give her all your attention and care. But she’s not your first baby. You have another one who just turned 5. If you’re focusing all attention, expense, and effort on the new baby, what happens to the 5-year old? You see where this is going.

As a small business owner, you might have a tendency to focus all your attention on growing your client base. But in the meantime, your existing one starts to feel the neglect. There has to be a balance in the focus. So we’ve provided some tips on great ways to continue the marketing effort on attention on existing customers.
Continue reading

How to Turn a Business Failure Into a Success

business failure into success

“I didn’t see it then, but it turned out that getting fired from Apple was the best thing that could have ever happened to me. The heaviness of being successful was replaced with the lightness of being a beginner again, less sure about everything. It freed me to enter one of the most creative periods of my life.” – Steve Jobs

One of the most famous Steve Jobs quotes references the time he was pushed out of what was once his own company, Apple. While being fired marked the beginning of “one of the most creative periods of his life,” it probably didn’t feel like it in the moment. Stomach-churning, ego-wrecking failure is often a part of the entrepreneurial life. What marks those entrepreneurs that find a way to turn that failure into a business success is the ability to stop focusing on the fact that they did not succeed, and instead view the failure as an opportunity to learn, grow and become a smarter, better business owner than before. This is because failure forces you to …
Continue reading

Discover the Age These Famous Entrepreneurs Got Their Start

Copy of Myth-2

Before starting a company, most future entrepreneurs wrestle with reasons they shouldn’t take the plunge. Of course losing money and having to drastically reduce personal time are on this list of fears for startup owners, but there’s another key factor that can prevent entrepreneurs from pursuing their dreams: age. Older people fear their time has passed, and they won’t have the energy to start a business. Middle-aged people feel more responsibility to provide for children and aging parents, and don’t think the risk of starting their own company is worth it. Young people worry they lack the experience and knowledge to run their own company. While all of these are valid concerns, we want to encourage those with solid business ideas to think instead about the positive aspects of their age over the negative. Not sure what those are? Read on.
Continue reading

Why Students Should Be Taught Entrepreneurship

arkansas entrepreneur

In most fields, a lack of innovation usually results in a downward spiral of the entire industry, and the same is true of education. For too long, children have been taught their ABCs and 123s without enough education on how their knowledge will apply in the real world, and too many unique teens with different goals, talents and gifts have been forced down the same conventional path like it’s a one size fits all solution. While many things need to change to fix this problem, there’s one great place to start: teach entrepreneurship to students. Here’s why:
Continue reading