Business loans from Uncle Sam
The government can help you get cash with the SBA’s 7(a) program, but banks still hold the purse strings.
Chris Holm, LUK Industries, Chandler, Ariz.
I run an Internet retail store that has been in business for just over a year. The business is running in the black, so I want to move some of our start-up costs to a fixed-rate loan. Is an SBA 7(a) loan the right choice for us? Read more…
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DiggHow to go global
An Indian textile business checks with Ask FSB’s experts for advice on international expansion.
Abhiram, New York City
I have a handloom and textile business in India and I would like to start an import/export business in New York City this year. Can you suggest a good book on how to get started and be profitable? I want to start with the least burden. I want insight into the problems, and also I’d like to read real-time scenarios. Read more…
The high cost of doing business with Wal-Mart
A small apparel manufacturer struggles to comply with the giant retailer’s requirements.
Carolyn Deason, San Antonio, Texas
I got lucky and showed my shirts to Wal-Mart locally. They love them, and one store has already ordered $2,700 worth of shirts and plans to order more this month. Other stores wish to order as well. I am a home-based business, very small, in business less than a year. Wal-Mart pays their invoices net 30 and requires me to tag the shirts with bar codes. Once I am in their vendor system, I can sell nationally. It’s a great opportunity, but how do I afford the initial expenses to do business with Wal-Mart? It will run close to $6,000 to pay for manufacturing, printing, bar codes and tags.
Do I need a license to sell on the Internet?
What paperwork you’ll need varies widely by location.
Chuck Jones, Akron, Ohio
Dear FSB: Do I need a license to sell retail clothing via the Internet and word of mouth? There’s no storefront involved.
Read more…
Need a loan? Don’t let bad credit get in the way
The micro-finance industry is helping entrepreneurs bypass banks.
Jennifer, Kent, W.A.
Dear FSB: I have my own gift-basket business and a janitorial business that I run with my husband. We are having trouble securing business capital. Our business is an LLC and we have a tax ID number and a business account with deposits averaging at least $7,000 a month. We are in the process of repairing our credit due to fraudulent information. Where can we find and secure a business line of credit that doesn’t require a personal guarantee? Read more…
How to stand out on the Internet
Geri is launching a Web site for her business. How can her site stand out amongst a sea of e-commerce? Share your ideas here.
Should I relocate my bra business from the suburbs to the city?
Patti is considering relocating her bra business to the city to increase foot traffic. Should Patti relocate? If not, how can she increase foot traffic?
How to get your product on Whole Foods’ shelves
Marissa asked FSB’s advice on how to get her natural food line off the ground. Where can Marissa sell her natural food products?
How Can I Write Off Defective Imports?
Christopher wants to know how to handle write offs for defective imports on his taxes. Do you have experience with defective imports? How did you handle the situation?
How can we sell in big retail stores?
How can Rebecca get her product into retail stores? Share your advice for Bug Catcherz here.
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